Data Shows Sports Gambling Outpaces Movies, Music + Museums
Research Shows Sports Gambling Outpaces Movies, Music and Museums
- Sports betting revenues exceed combined revenues of major entertainment industries.
- Sports betting has become a form of fan engagement, replacing other entertainment.
- Actual sports betting may be significantly higher than reported figures.
America’s New Favorite Pastime? Sports Gambling Outpaces Movies, Music and Museums
The rapid expansion of legalized sports betting is reshaping how Americans spend their entertainment dollars, with new data showing that wagers on sporting events now exceed what consumers spend on several traditional forms of entertainment combined.
According to a recent analysis published by Fortune and syndicated by Yahoo Finance, Americans placed an estimated $166 billion in sports bets during 2025—more than the combined revenues generated by the U.S. movie industry, live music, recorded music, book publishing and museums.
The staggering figure highlights just how dramatically sports gambling has grown since the U.S. Supreme Court struck down the federal ban on sports betting in 2018, allowing states to legalize and regulate the industry individually. Today, legal sportsbooks operate across much of the country, making betting more accessible than ever.
According to Fortune, North American movie theaters generated $8.87 billion in box office revenue in 2025. Recorded music brought in approximately $11.5 billion, while live concerts and festivals earned $18.5 billion. Book publishers reported roughly $14.6 billion in revenue, and museums generated an estimated $16.4 billion.
Combined, those industries produced about $70 billion—less than half the amount Americans wagered on sports during the same period.
Why Sports Betting Is Booming
Industry experts say the popularity of sports wagering goes far beyond simply predicting who will win a game.
“It’s a form of engagement as opposed to what we knew previously,” Martin “Marty” Conway, an adjunct lecturer in Georgetown University’s Sports Industry Management program, told Fortune.
Conway added that sports betting has become increasingly woven into the fan experience.
“It fills that void, and it will crowd out other forms of entertainment, other forms of hospitality, for sure.”
The True Number May Be Even Higher
Researchers believe the reported $166 billion total may actually underestimate Americans’ betting habits.
The figure does not fully account for sports wagers placed through tribal gaming operations in states where reporting isn’t required, including Florida. It also excludes growing activity on prediction-market platforms such as Kalshi and Polymarket, which have expanded into sports-related contracts.
Victor Matheson, an economist at the College of the Holy Cross who studies sports gambling, told Fortune that Florida alone could account for billions in additional wagers.
“The $165 or $170 billion number is low,” Matheson said.
When tribal gaming and prediction markets are included, analysts estimate Americans may have wagered close to $300 billion on sports during 2025.
What the future holds
As more states continue expanding legal sports wagering and new betting products emerge, analysts expect the industry to remain one of the fastest-growing segments of the entertainment economy.
Research Shows Sports Gambling Outpaces Movies, Music and Museums was originally published on rnbphilly.com
