Women's sports betting surges 40% as basketball popularity soars
17 April 2024(PRESS RELEASE) -- The world of sports betting is experiencing a significant shift, with a remarkable 40% increase in betting volume on women's sports. Growth in betting on women's sports was strong alongside the record-breaking success of the 2023-2024 women's college basketball season, according to Cloudbet, a leading crypto casino and sportsbook.
The rise of basketball stars like Caitlin Clark and Angel Reese has captured the attention of fans worldwide and sparked growing interest among bettors. Cloudbet reported a 500% increase in bets placed on the NCAA Women's Championship finals compared to the previous season, with the Final Four matchup between UConn and Iowa and the championship game between Iowa and South Carolina driving the highest betting volumes.
"We're seeing a significant shift in the betting landscape," said a Cloudbet spokesperson. "There's been tremendous growth in women's sports betting, particularly around basketball. We see it in both the WNBA and the NCAA. The audience is growing, and betting is growing with it."
The NCAAW championship game attracted a record 5.6 million viewers, making it the most-watched women's college basketball game ever according to Nielsen. This surge in viewership is almost certainly linked to the increased interest in betting on women's sports.
Cloudbet's data also suggests that the increased popularity of women's basketball may be having a halo effect on other women's sports, with betting volumes on squash, volleyball, and tennis seeing year-over-year increases of 290%, 57%, and 48.9%, respectively.
In response to this trend, Cloudbet plans to expand its offerings for women's sports, with competitive odds and promotions around women's games. The sportsbook aims to be at the forefront of the growing women's sports betting market, leveraging the security and convenience of cryptocurrency transactions.
"People often joke about 'crypto bros' and say that men don't care about women's sports," said the spokesperson. "Looking at the data, we can clearly say there is a high and growing demand for betting on women's sports with crypto. Read into it what you will. As a sportsbook, we're excited, and plan to put a lot of resources into being the best place to bet on women's sports online."