In 2024, top women’s sports leagues are projected to generate global revenues of $1.28 billion.
This is according to a new report from Deloitte that includes:
- Commercial revenue (sponsorships, merchandising): $696 million
- Media rights: $340 million
- Matchday (tickets, concessions): $240 million
If their numbers are correct, it will be the first time annual global revenues for women’s sports will exceed $1 billion.
On the heels of that report, many panelists at the recent SBC Summit North America conference predict 2024 will also be a record-breaking year for women’s sports betting activity.
More Fans Than Ever Betting on Women’s Sports
Integrating sports betting more comprehensively into women’s sports represents a logical step forward for fan engagement. As the coverage and popularity of women’s sports continue to expand, fans increasingly turn to sports betting as an elevated means of connecting with their favorite teams, leagues, and athletes—something they’re already doing. This growth in sports betting opportunities enhances the fan experience and contributes to the commercial viability of women’s sports leagues and events.
Syd Harris, director of brand and content at Digital Gaming Corporation (owner of Betway), highlighted the growing interest in women’s sports. As women’s sports gain prominence, viewership transcends gender boundaries. This trend extends to sports betting as well: the more people watch women’s sports, the more they engage in betting.
“If you have a male who’s a basketball fan, hopefully, we can take that basketball fan and bring them over,” said Nicole Pawlak, senior director of special projects at Athletes Unlimited. “Sports betting is an entertainment product, it keeps viewers engaged. You’ll start seeing it grow with the WNBA where more people are going to start betting and it’s going to be common, not taboo.”
Women’s Basketball Poised for a Huge Betting Year
Sportsbooks anticipate heightened betting activity across various women’s sports. Notably, this year’s Olympics, where the U.S. women’s basketball team has secured seven out of the last eight gold medals, is expected to draw substantial wagering.
Johnny Avello, Director of Sports Operations at DraftKings, emphasized the increasing star power in women’s basketball, “There is more star power in women’s basketball than ever before,” he said.
And it’s already happening. According to the Associated Press, DraftKings took 3 1/2 times more bets on this year’s women’s college basketball tournament than in the year before, and nearly four times as much total money was wagered on the games. At BetMGM, the amount of money bet on WNBA futures, predicting things like the eventual champion or most valuable player, is up 175% this year.
According to Fanatics Sportsbook, the most money on any WNBA futures bet is for Caitlin Clark’s Indiana Fever to finish the season with under 21.5 wins, as reported by spokesman Kevin Hennessy.
Other Women’s Sports Generating Sports Betting Revenue
The women’s Olympic soccer team has already demonstrated its appeal to betting enthusiasts.
During last year’s Women’s World Cup soccer tournament, FanDuel collaborated with a female-owned coffee roaster to help viewers stay awake during live matches held on the other side of the globe. And, despite the women’s soccer World Cup in Australia and New Zealand taking place during overnight hours for North American viewers, it still garnered significant viewership.
There’s also the National Women’s Soccer League and Athletes Unlimited’s leagues in basketball, softball, volleyball, and lacrosse.
According to Jennifer Matthews, a FanDuel vice president, the women’s hockey final is one of the most-watched and bet-on Olympic events. And the Professional Women’s Hockey League (PWHL) recently concluded its first season. PWHL’s top games drew attendances of around 20,000 during its inaugural year.
The bottom line is that bettors are approaching women’s sports more sophisticatedly instead of treating them as novelties. And it’s only the beginning.
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