The financial winners and losers from the World Cup

The expansion of the FIFA World Cup into a 48-team tournament across 16 host cities in the United States, Canada, and Mexico has driven record financial returns for soccer's governing body, broadcasters, sportswear manufacturers, and betting operators. However, these commercial gains contrast sharply with the experiences of match-going supporters facing unprecedented ticket costs and host city hoteliers confronting softer-than-expected accommodation demand.

Under FIFA President Gianni Infantino, the tournament expanded from 32 to 48 teams, propelling FIFA's four-year financial cycle revenues toward $13 billion. This builds upon the 2022 World Cup in Qatar, which generated a record $7.6 billion (£5.6 billion). FIFA derives its primary income from broadcasting rights, corporate sponsorships, licensing, hospitality, ticket sales, and a 15 percent transaction fee on secondary market ticket resales. Deutsche Bank Research Senior Strategist Marion Laboure detailed how these commercial strategies and revenue models have shaped the financial outcomes of the tournament and impacted hospitality trends.

Broadcasters and corporate partners capitalized on an expanded schedule of more than 100 matches. Fox Sports, which paid $485 million for U.S. broadcast rights, commercialized three-minute hydration breaks during matches. A 30-second advertisement slot cost between $200,000 and $300,000, rising to $750,000 during late-stage matches involving the United States. Major ad campaigns prominently featured Sir David Beckham, co-owner of Inter Miami, a club valued at $1.45 billion.

In the retail sector, kit sales for sportswear maker Nike doubled compared to figures from the 2022 Qatar tournament, while retailer JD Sports reported that Scotland was its top-selling jersey overall. Culture journalist Cee Valentina highlighted that football jerseys have become mainstream streetwear staples, a trend that also drove a rise in counterfeit sales.

The sports gambling industry also experienced massive activity following a 2018 U.S. Supreme Court ruling that allowed individual states to legalize sports betting, though it remains illegal in major states such as California and Texas. Macquarie analyst Chad Beynon detailed a distinct shift toward in-play betting, where wagers are placed live during matches. Total projected wagers reached $50 billion across the tournament, averaging approximately $500 million per match across more than 100 fixtures.

Conversely, match-going fans encountered severe price pressures. Dynamic pricing pushed opening match entry to $1,000, while face-value tickets for the final reached $32,970, and secondary market resales surpassed $2 million. U.S. President Donald Trump publicly criticized the $1,000 opening ticket prices, while Infantino defended the pricing structure. Supporters were further squeezed by inflated travel and transport expenses.

The local hospitality sector saw demand lag well behind expectations. By April, 80 percent of U.S. hotel operators reported pre-tournament bookings below initial forecasts, echoing patterns from the 1998 World Cup in France, where hoteliers also experienced lower-than-expected demand. Although U.S. pubs, bars, and restaurants recorded a temporary hiring spike in May ahead of the event, host cities realized limited long-term economic benefits. Oxford University fellow Alexander Budzier noted that host communities do not generate long-term wealth from such events due to their reliance on existing infrastructure and potential drops in regular tourism. This outcome stands in contrast to the 2012 London Olympics, which delivered lasting urban regeneration to the Stratford area.

Looking ahead, sponsored hydration breaks are expected to remain a permanent broadcast advertisement inventory due to the vast scale of media coverage. Meanwhile, FIFA is considering expanding future World Cup tournaments to 64 teams to access major commercial markets including China and India, balancing ongoing commercial expansion against audience accessibility.