Top 10 Richest Sports in the World in 2024
Sports symbolise passion, rivalry, and intense feelings of euphoria. This is not because of the emotional pull that draws people worldwide to it, but because the industry is alluring because of its economic success and belief in its future prosperity.
Sports help to build character, and even in 2024, sports will play an important role in our physical shape if taken seriously. Sports generate the highest revenue of any corporate job.
Let’s take a look at the top 10 richest sports in the world:
10. Boxing
Boxing is undoubtedly among the most financially lucrative sports globally. On October 22, 2022, in Budva, Montenegro, Aoife O’Rourke from Ireland faced Elzbieta Wojcik from Poland in their middleweight 75kg bout. Boxing has a rich history and is widely recognised and captivating. Nevertheless, the average income for professional boxers stands at $50,000.
As amateurs, professional fighters make between $1,000 and $4,000 per match. Similarly, it gradually increases from $5,000 to $10,000 for each bout. Not to mention, boxers have their own sponsors and endorsement deals and receive additional rewards for winning matches.
9. Motorsport
Motorsport is also one of the ninth richest sports in the world. Mick Schumacher and Haas F1 Team driver goes during the qualification at Formula 1, in Yas Marina Circuit, Abu Dhabi, Motorsport has already surpassed the $5 billion threshold in the global market. This is anticipated to have reached the US$6.5 billion mark, making it one of the richest sports on the planet.
One of the biggest motorsports competitions, Formula One, brought in $1.83 billion in revenue in 2022. Lewis Hamilton earned a total of US$82 million, including US$70 million from on-track earnings.
8. Tennis
Tennis is the eighth top richest sport in the world. Casper Ruud comes to take the shot against Carlos Alcaraz during the 2022 US Open at USTA Billie Jean King National Tennis Center on September 11, 2022, In this, the sport does not only do the best athletes compete in this game but some of the wealthiest do as well.
With a total market value of about US$6 billion, tennis has emerged as one of the richest sports in the world. One of the top tennis competitions, the French Open or Roland Garros, brought in nearly $2.6 million in prize money in 2022. Rafael Nadal also made it into the top 20 with a total income of $41.4 million. RECOMMENDED FOR YOU Anthony Joshua says what matters most to him is making money ahead of the clash.
7. Cricket
Cricket is definitely the seventh richest sport in the world, it unquestionably deserves to rank among the richest sports in the world this year. A recent estimate places the industry value of cricket at $6 billion for the year. In 2023, it is predicted that a professional cricketer’s average yearly salary will also reach almost $60,000. The Indian Premier League, one of the biggest cricket tournaments, made $633.62 million in revenue last year. In addition, the average income for each franchise in that tournament was $79.2 million.
6. Golf
Golf is the sixth top richest sport in the world. In this sport, we have seen Adam Scott of Australia during Day 4 of the 2022 ISPS HANDA Australian Open at Victoria Golf Club on December 04, 2022, in Melbourne, Australia. Golf, frequently referred to as the sport for the rich, has steadily gained popularity. The popularity of the sport has dramatically increased in recent years.
In the US, golf attracted 2.6 million new players in 2018, nearly the same number as the year before and a record high, according to a Golf Adviser article from 2019. Tiger Woods, a golfing legend, earned US$72 million in 2022, more than any other golfing celebrity.
5. Baseball
The sport of strength and energy baseball is also the fifth richest sport in the world. Bryan Abreu of the Houston Astros delivers a pitch against the Philadelphia Phillies during the 2022 World Series at Minute Maid Park on November 05, 2022, in Houston, Texas. It is difficult to believe that baseball is only prevalent in the United States and that a few plots of land outside the country can generate such enormous sums of money. Baseball is one of the richest sports in the world.
Currently, a professional baseball player makes $8.5 million a year on average, with star players earning significantly more. The value of baseball as a company is about $40 billion. Only a few nations, though, actively participate in this sport.
4. Ice Hockey
Ice Hockey is the fourth top richest sport in the world and the game of intelligence. David Savard of the Montreal Canadiens plays against the Seattle Kraken at Centre Bell on January 9, 2023, in Montreal, Quebec, Canada. Ice hockey is one of the most popular sports in America and Canada, a fast-paced, highly specialized activity that has dominated Western props.
According to sources, NHL franchises collectively brought in US$6.1 billion in revenue during the 2021/22 season, including earnings from non-NHL events. The sport’s total market value is estimated at around US$60 billion. Connor McDavid of the Edmonton Oilers has the highest cap hit of any player in the league for the 2021–2022 season, coming in at $12.5 million.
3. Basketball
Basketball is definitely the third most played sport in the world. Stephen Curry known as the Golden State Warriors, drives to the basket during the game against the Phoenix Suns on January 10, 2023, at Chase Center in San Francisco, California. According to recent reports, the global market value of basketball is currently estimated to be over $90 billion. And without a doubt, the United States owns the most significant portion of it.
NBA players now make an average annual salary of around $3.8 million as of 2023. This is not quite surprising that this sport draws some of the richest athletes in the world, with LeBron James of the Los Angeles Lakers earning a staggering US$96.5 million in 2022.
2. American Football
American Football is Rams tight end Tyler Higbee bulls his way over a trio of Broncos defenders in the second quarter at SoFi Stadium in Inglewood on Sunday, Dec. 25, 2022. After being played only in the United States, the National Football League (NFL) has a market worth about $200 billion, according to recent estimates.
It is one of the most well-known games in the country, and significant money is made from it. The NFL brought in an astounding $11,394 million in revenue last year, more than any other league in any sport. According to Forbes, American Football has some richest sportsmen in the world, including Tom Brady, who is among the top 10 highest-paid athletes.
1. Football
Now, football is one of the most anticipated sports in the world. Allan Saint-Maximin of Newcastle United FC controls the ball as Bukayo Saka of Arsenal defends during a match at Emirates Stadium on January 03, 2023, in London, England. Photo: Serena Taylor. The most popular sport in the world and the one with the largest market share is football. There are several popular leagues that are very famous in the world.
The Premier League made $5.43 billion in revenue in the 2021-22 season, and other leagues like La Liga, Serie A, and Bundesliga also made a sizable amount of money. The average salary for a professional athlete in this field is $4 million.
What is the richest sport in the world?
Football or Soccer is still considered the richest sport in the world as of 2023 and one can make billions of dollars when it comes to football clubs while football or soccer players enjoy as much as millions of dollars in salary per week. This makes the game both exciting to watch, play and also invest in!Where can I find more information about the richest sports in the world?
More information about the richest sports in the world can be found through sports industry publications, financial reports from sports leagues and governing bodies, and analyses by sports economists and analysts. Additionally, news outlets and financial websites may cover developments related to sports business and finance.
How does boxing rank among the richest sports?
Boxing, with its marquee matchups, pay-per-view events, and endorsement deals with major brands, generates significant revenue, particularly for top-tier fighters and championship bouts.
Are there other factors besides revenue that determine the wealth of a sport?
Yes, besides revenue, other factors such as athlete salaries, infrastructure investment, media coverage, fan engagement, and the sport’s overall economic impact on local communities and industries can also influence its wealth and financial standing.
Why is cricket considered one of the richest sports?
Cricket is considered one of the richest sports, particularly in countries like India, England, Australia, and Pakistan, where it enjoys immense popularity and attracts substantial investment from broadcasters, sponsors, and advertisers.
What role does merchandise sales play in sports revenue?
Merchandise sales, including team jerseys, apparel, accessories, and memorabilia, contribute to sports revenue streams. Fans purchase merchandise to show support for their favourite teams and athletes, generating additional income for sports organizations.
How does American Football generate its revenue?
The NFL generates significant income from lucrative TV deals, ticket sales, sponsorships, and merchandising, which contribute to its high revenue.
What makes American football one of the richest sports?
American football is one of the richest sports due to its popularity in the United States, where it generates significant revenue through television contracts, sponsorships, and ticket sales.
Football or Soccer is still considered the richest sport in the world as of 2023 and one can make billions of dollars when it comes to football clubs while football or soccer players enjoy as much as millions of dollars in salary per week. This makes the game both exciting to watch, play and also invest in!
