Sports Betting Surpasses Traditional Entertainment Spending in the US

Key Highlights

No longer a niche industry, sports betting is now easily the most popular form of entertainment in the United States. In 2025, legal sportsbooks accepted $166 billion in wagers, more than double the combined spending associated with films, music, books, and museums.

Sports Betting Surpasses Major Entertainment Industries

The milestone reflects how quickly sports betting has evolved into one of the country’s largest forms of entertainment since the acceleration of state-by-state legalization. The $166 billion figure only represents a portion of the overall market, as well. Factoring in prediction markets and unreported tribal wagering, total sports betting activity in the US may have been near $300 billion last year.

The industry’s growth has been fueled by mobile betting apps, broader legalization, and expanded wagering options. Bettors can now place pregame, live, and player prop wagers within seconds, making sports betting more accessible than ever. Betting has even spilled over to Hollywood, with the entertainment betting sites offering odds on TV, films, and awards, among other markets.

“They’ve taken something that was just who’s going to win, and now you’re actually able to get involved in certain other events of the game. That’s a form of engagement as opposed to what we knew previously,” notes Martin Conway, a Sports Industry Management program lecturer at Georgetown University.

Betting Handle Doesn’t Reflect Player Losses

While the betting handle reached record levels, it shouldn’t be confused with consumer losses. Handle measures the total amount wagered, and sportsbooks return more than 90% of that money to customers through winning bets.

Using the legal sportsbook handle, the average American adult wagered roughly $1,000 during 2025. Estimated losses averaged closer to $100 per player after payouts were distributed.

Online sportsbooks and betting apps may also be changing where consumers spend their gambling dollars rather than replacing traditional entertainment altogether. Lottery sales have declined in some states with legal online sports betting, suggesting convenience may be pushing many consumers toward mobile wagering.

Growth Brings Increased Financial Concerns

The rapid expansion of sports betting has drawn greater attention from economists, regulators, and public health researchers. A New York Federal Reserve study found higher credit card delinquencies among millennials and Gen Z in states with legal sports betting, suggesting some consumers may be financing gambling with debt.

Concerns about responsible gambling are also becoming more prominent. According to a U.S. News & World Report survey, one in four sports bettors said they were worried about their ability to control their gambling.

While these findings don’t mean every bettor experiences financial harm, they highlight the challenges accompanying the industry’s rapid growth. As sports betting continues to expand in the US, policymakers and operators are facing increasing pressure to balance market growth with stronger consumer protections.