It’s no secret that the sports industry is wildly lucrative; just looking at the income of the world’s top athletes and players shows us that. However, figuring out where all the money comes from is less evident since there are so many different sports, leagues, and major events to consider. As surprising as it may sound, just because the world’s highest-paid athletes have managed to generate massive incomes doesn’t mean their sports are the highest revenue earners.
By looking at different sports and their professional leagues and events, we can build a better picture of which sports are the biggest, financially speaking. And here, we’ll do just that, starting with football.
Football
Football, as in soccer, is undeniably the world’s most popular sport, and the revenue it generates naturally reflects that. Between its many professional leagues and enthralling global events (like the FIFA World Cup), this sport brings in billions every year.
Some of the highest-earning leagues (based on the 2022/23 fiscal year) include the English Premier League with a revenue of $7 billion, La Liga with $3.54 billion, Bundesliga with $3.54 billion, UEFA Champions League with $3.4 billion, and Serie A with $3.2 billion.
These numbers are just the tip of the iceberg when it comes to professional football leagues. The revenue already exceeds $20 billion when you add in major football events like the FIFA World Cup, which typically earns another $18 to $20 billion, so the total amount this sport brings in leaves other sports in the dust.
The dominance of football worldwide is often credited to how accessible the game is. Unlike most sports, all you need to start playing the game is a ball and something to mark goalposts. It’s a simple game that many have been able to learn, and when you can play a game yourself, watching it unfold on the world stage is even more exciting (especially when the star players are from your home country).
American Football
In the United States, American football is a hugely popular sport, with millions tuning in to watch broadcasts and fans flocking to stadiums to attend live games. In 2022, the NFL (National Football League) brought in $18.6 billion, a record year that made it the biggest sports league in revenue (even beating out major football leagues).
The US delivers most of this sports revenue, but it’s not the only country contributing to the earnings. Football is also popular in Canada, with its national league, the CFL (Canadian Football League), generating another $45.4 million in 2022. Canada and the US’s other neighbouring country, Mexico, are also known to contribute to the revenue generated by the NFL – with audiences in both these countries tuning in for regular games and major events like the Super Bowl.
Even though American football doesn’t hold the same level of appeal and excitement at the global level as soccer, it’s still a highly valuable part of the sports industry.
Basketball
The American National Basketball Association (NBA) brings in an annual revenue of $10.58 billion. Surprisingly, the revenue isn’t just from America’s interest in the sport. The NBA captivates audiences around the world, with S&P Global saying that “being a basketball fan is generally synonymous with being a fan of NBA basketball.” This global interest primarily comes from countries like the UK, Germany, and China, and this greatly contributes to the league’s overall revenue.
Like football, basketball is a game that doesn’t require much equipment to start with, making it easily accessible. The sport has also produced some of the wealthiest athletes in the world, like LeBron James and Stephen Curry – though admittedly, a significant chunk of their earnings is attributed to off-court partnerships and deals.
Baseball
Between Japan, Canada, and the United States, baseball is a surprising revenue driver. The national leagues each earn billions for the sports industry – Major League Baseball (MLB) most recently earning $10.3 billion and Nippon Professional Baseball (NPB) earning $6.61 billion. The appeal of baseball is different from other sports. It’s not just about the action and excitement (though it does provide that) but rather the skill, atmosphere, and, for many, the stats that go into a series.
Cricket
Cricket is a hugely popular sport among countries like India, the United Kingdom, and Australia, so much so that it’s become a multi-billion dollar industry. Among the top cricket revenue earners is the Indian Premier League (IPL), which was valued at $8.4 billion in 2022 but saw a decrease in revenue in 2023. Even with this recent revenue decrease, this league is the most widely known and frequently tops lists ranking the best cricket leagues in the world.
Tennis
Tennis may not be the highest revenue-driving sport on this list, but it still brings in an impressive amount of cash globally. Major tennis tournaments like the US Open, Australia’s Grand Slam, and the UK’s Wimbledon Championships bring in well over $100 million each. National-level programs and associations add to this sport’s revenue, including the Lawn Tennis Association (LTA), which brought in $100 million in 2022, and Tennis Canada, which generated $95.4 million.
Final Thoughts
With these six sports leading the way, the sports industry is wildly profitable. It spans from selling gear and team-branded merchandise to amateur players and fans to generating revenue from broadcasting games (or matches) and sports betting through sportsbooks and top-rated casino sites for global players – creating thousands of ways for fans to engage with their favourite sports.
Disclaimer: Gambling carries significant financial risks, is potentially addictive, and may violate laws in your area. Please gamble responsibly within your means, and ensure compliance with all applicable regulations before proceeding. This content is for informational purposes only.
