The highest amount ever won at a sportsbook is hard to pinpoint. As sportsbooks operate in different markets and don’t always disclose details. However, here are some notable wins:

• William Hill: In 2011, Steve Whiteley, a 61-year-old heating engineer, won £1.45 million ($2.4 million) from a £2 horse racing accumulator at William Hill.
• Bet365: In 2017, an anonymous punter won £223,000 ($300,000) from a £0.50 12-fold accumulator on football matches.
• Betfair: In 2017, a UK punter won £1 million ($1.4 million) from a £1 horse racing accumulator.
• Betway: The biggest win was by Jon Heywood in 2015, who won £13.2 million ($20 million) on a £0.25 spin on the Mega Moolah progressive jackpot slot. Although not a sports bet, it remains one of the largest payouts in online gambling history.

In traditional sports betting, the biggest wins typically come from accumulators. Where punters bet on multiple events. All selections must be correct to win, leading to payouts in the hundreds of thousands or even millions, depending on the odds and stake.

What sports betting is the most popular and profitable?

Profitability for Bettors vs. Sportsbooks

While these sports are popular and profitable. Sportsbooks maintain an edge through the vigorish (bookmaker’s commission). Bettor profitability often relies on knowledge, strategy, and occasional luck.

Some bettors succeed in niche markets by leveraging specialized knowledge. Others focus on live betting or specific bet types to gain an advantage. However, over time, the majority of profits usually go to the sportsbook, reinforcing their inherent advantage.

Has Horse racing declined in the United States?

Yes, horse racing has seen a decline in popularity and participation over the years in the U.S. This decline is evident in several key areas:

Attendance and Viewership

• Attendance: Historically, horse racing was a top spectator sport in the U.S., with large crowds at events like the Kentucky Derby. However, attendance at many racetracks has dropped, leading to some closures due to dwindling numbers.
• Viewership: TV ratings for horse racing events have also decreased. With fewer viewers tuning in to major races. The sport struggles to compete with other sports in broadcast viewership.

Betting Handle

• Betting Handle: The total amount of money wagered on horse racing in the U.S. has decreased. This reflects reduced interest as other gambling forms. Such as sports betting and casinos, have gained popularity.
• Shift to Online Betting: While online betting has helped, it hasn’t fully offset the decline in traditional in-person wagering.

Racetrack Closures

• Racetrack Closures: Many racetracks have closed or reduced their schedules due to financial issues. Historic tracks like Hollywood Park have shut down and been redeveloped for other purposes.

Competition from Other Gambling

• Casino and Sports Betting: The expansion of casino gambling and legalized sports betting has provided strong competition to horse racing. Drawing bettors away from the tracks.
• Lottery and Online Gambling: The rise of state lotteries and online gambling. Platforms has also contributed to horse racing’s decline in the gambling market.

Aging Demographics

• Older Audience: Horse racing’s core audience tends to be older, and the sport has struggled to attract younger fans. This demographic shift poses long-term sustainability challenges.
• Cultural Shift: Younger generations prefer faster-paced, interactive entertainment. leaving horse racing with a shrinking fan base.

Animal Welfare Concerns

• Public Perception: Growing concerns over animal welfare have contributed to the sport’s decline. Incidents involving horse fatalities have sparked negative publicity. Calls for reform or even a ban on horse racing.
• Regulatory Scrutiny: Increased regulatory scrutiny due to these concerns has led to stricter rules. Some cases, reduced race schedules.

Economic Factors

• Economic Downturns: Recessions and downturns have reduced disposable income. Leading to decreased spending on horse racing. The sport has struggled to fully recover from these economic impacts.

Shift in Cultural Interests

• Entertainment Options: The rise of various entertainment options, including digital media. Streaming services, and video games, has created stiff competition for horse racing. Making it harder to capture people’s leisure time and money.