Summary
- A recent survey estimates that up to $45 billion will be bet on illegal sports websites in 2024.
- The activity primarily involves baseball and soccer, along with various other sports.
- Although there is a significant increase in illegal sports betting, there remains little interest in legalizing it domestically.
The Council for Sports Ecosystem Promotion (C-SEP) reported that illegal sports betting in Japan amounted to $45 billion (6.45 trillion yen) in 2024 alone. These findings were revealed at a symposium in Tokyo on May 14, as reported by the local media outlet, Mainichi, highlighting the widespread popularity and impact of sports betting in the country.
Japan shapes out to be a nation of sports bettors, wagering billions
Instead of sitting out and missing opportunities to place wagers, many Japanese sports bettors have turned to overseas sportsbooks, investing significant sums in this activity. To determine the exact amount wagered, C-SEP had to adopt a different approach, as most sportsbooks are unwilling to disclose the volume of bets they process from Japan due to the unregulated nature of the activity. Rather than relying on data from betting companies, C-SEP sought insights from overseas partners and internet service providers to estimate the total amount wagered. Through this method, they concluded that approximately 1 trillion yen was bet on domestic sports, with professional baseball leading the way, totaling $3.68 billion in wagers. Soccer followed closely, generating an estimated $2.32 billion in 2024, while baseball accounted for about $606 million. This occurs within a broader context where the market for professional Japanese sports is estimated to be worth $34.18 billion globally, as the country continues to host some of the world's premier athletic competitions.
Despite a huge betting handle, there is little interest in legalizing sports gambling
Japan's passion for baseball has made it a significant focus for many international sportsbooks and fans. Despite this interest, there seems to be little movement towards regulating the industry. Currently, Japan is finalizing plans for an upcoming integrated resort project, the MGM Osaka, which will be followed by two other major projects. While these efforts concentrate on land-based gambling in specific areas, online gambling, whether for sports or casinos, remains prohibited. Recently, the Diet, Japan's legislative body, announced plans to introduce new anti-gambling laws aimed at addressing iGaming and reducing its impact. These measures will also focus on raising awareness about important issues like addiction and gambling-related harm.
