There are many questions surrounding the thought process of betting if you are getting into the sports betting world. One specific question that would come to mind is, what is the average sports bettors bet amount on a sport?
The answer to this question will significantly vary from one person to the next. It all depends on your comfort level, cash flow amounts, and experience in sports betting in general.
Americans seem to be spending a lot of money betting on sports, with those numbers continually rising each year. To get a rough estimate of how much they spend, only legal land-based and domestic online sports betting is actually tracked and kept to use for those data purposes.
How Much Money Sports Bettors Bet In Las Vegas?
For this example, we will look at the “gambling capital” of the United States. Las Vegas has been the number one hot spot for a gambling tourism destination since 1992.
Nevada remains high at the top of the list as the nation’s best leader in both betting handle and revenue. The monthly betting handle routinely tops half a billion dollars. These numbers frequently keep breaking financial records with major sporting events such as the Super Bowl, Olympics, and NCAA Men’s Basketball Tournament.
In 2019 alone, Nevada had its hands on a total of $5.32 billion in sports bets. A majority of this money is bet by tourists from all around the world just to play at Las Vegas’s famous casinos.
In 2018 with the most recent year to have available in-depth data, roughly 42.12 million people visited Las Vegas. If you combine that figure to the state’s population estimated at 3.03 million, you get a per-capita betting handle of $117.81. Shifting focus on only sports fans, this statistically makes up 60% of the American population, and that number shoots up to $194.79.
What Is A More Accurate Number?
If you are looking at the population as a whole and ignore some outliers, such as the professional sports bettors bet amount that wager $5,000 at a time, you can get a better number to look at.
Using the example above, you are coming in at $117 for an average bet. By assuming roughly 80% of US adults or about 198 million people actively gamble, you can plug in the sports-betting-handle-per-person figure from Nevada to get an average of $118.71.
So on average, the nation’s average is not too far off at all from Las Vegas. Being the gambling hot spot that is has been for years, this is identical numbers here and shows that online sports betting has slightly made a move ahead of the land-based sports betting.
What Is A Good Average Bet For Me?
Taking into account the information posted above, you would have to run yourself through a checklist first. To get where you are going, you will need to see where you are now in terms of cash flow, comfort level, and experience with sports betting.
How much money do you have extra each month? If you can set up a budget or figure out how much money you have left over each time you are paid, this is the first step.
If you want to bet $300 on an event but only have the budget for $189, you will have to set yourself limits or find ways to cut back your normal expenses.
Once you have your cash flow figured out, you need to know how much money you are comfortable with losing. After you have saved all that extra money to place a bet, and then you lose that $200 bet, can you stomach this type of loss?
What would you consider your experience level? Are you a newbie, moderate bettor, or expert? Your experience should go hand in hand with your cash flow management and comfort level.
It is always best to brush up on these categories regardless of what your experience level of a sports bettors is. As a newbie, you need to practice these guidelines a little more just to make sure you mitigate your risk as best as possible.