Many people who want to pursue a career in sports are often confronted with this question, which sports make the most money? If you want to become a millionaire, pursuing a career in sports can help you become one. There are many athletes and sportsmen making millions in different sports. But then, to make good money in sports, you need to consider your passion, skills, and expertise.
Sports teams make money through ticket sales, the sale of merchandise, sponsorships by brands, and viewership rights sold to TV networks.
What Sport Do You Make the Most Money In?
The following are some of the sports that make the most money in the world:
The highest paying sport in the world is basketball. Basketball players are paid hefty salaries. The average basketball player earns $4.9 million a year. The NBA is the most popular and highest paying basketball league. That is why every basketball player dreams of joining the NBA league.
Michael Jordan was the highest-paid NBA player until when he retired in 1993. He was being paid $343 million a year. Kobe Bryant of the LA Lakers earned $30 million in the 2013/14 season. Basketball players earn huge salaries through endorsements and sponsorships.
Boxing is one of the oldest sports and yet one of the sports that makes the most money. Boxing is popular in the US, EU, Asia, and Africa. To succeed in this sport, you need to be physically fit.
Some of the highest-paid boxers in the world include Floyd Mayweather who is worth $560 million. Other boxers who make millions in boxing include Mohammad Ali and Mike Tyson. Boxing makes money through betting, endorsements, and pay-per-view.
Also read: Professional athletes who went broke.
Soccer is the other sport that makes the most money. It is the most popular sport in the world. The average salary of an average footballer is $3.9 million. For instance, the National Football League (NFL) is one of the most popular football leagues in the world, followed by EPL, La Liga and then the UEFA champions league.
Some of the highest-earning soccer plays include Cristiano Ronaldo earning $200 million a year followed by Lionel Messi and Kylian Mbappe. Soccer is one of the sports played in almost every country around the world.
Baseball is a common sport in the USA and countries like Japan. It is one of the sports making the most money and its revenues have been increasing every year. The average wage of a Major League Baseball player is $3.8 million a year.
Baseball makes money through sponsorships and endorsements. Some of the highest-paid baseball players include Max Scherzer and Justin Verlander with an annual salary of $43.33 million.
5. Ice Hockey
Ice Hockey is another sport that is making the most money in the world. This sport is popular in the US, Canada, Russia, and Australia. However, it has a massive following all over the world.
Some of the highest-earning Ice Hockey players include Connor McDavid making $12.5 million every year. Others include Artemi Panarin and Auston Matthews.
Golf is a sport for rich people, yet one of the sports that makes the most money. It is one of the easiest sports to learn and yet one of the hardest sports to become a perfectionist. Most millionaires play golf for fun during their free time.
Some of the highest-paid golfers in the world include Tiger Woods with a net worth of $800 million. Other players making money in golf include Rory Mcllroy and Sergio Garcia. Golf makes money through endorsements, corporate events, and sponsorships.
Also read: Why do rich people play golf?
Tennis is considered one of the most challenging sports in the world, yet, it is one of the sports making the most money. It is one of the sports for the rich people. It requires mental and physical stamina. Tennis can be played either individually against a single opponent or between two players.
Some of the highest-earning Tennis players include Roger Federer, Naomi Osaka, and Serena Williams earning over $50 million a year. Tennis makes money through appearance fees, tournament prizes, endorsements, and brand deals.
8. Auto Racing
Auto racing is a popular sport in the USA and in the EU. It is an interesting sport to watch, but it is a dangerous sport. This sport comes with high rewards making it one of the best sports in the world.
Currently, the highest-earning car racer is Lewis Hamilton making $82 million yearly. The richest auto racer is the former German driver Michael Schumacher with a net worth of $800 million. He holds a record for the fastest raps and having the most races.
What is the Highest Paying Sport?
Basketball is the sport that makes the most money in the world. For instance, NBA generated revenues of 10 billion in the 2021/22 season. Some of the best-paying basketball leagues include EuroLeague, NBA, LNB Pro A, and Spain’s Liga ACB.
Also read: Which league makes the most money?
Who is the Richest Sportsman?
Michael Jordan, a former NBA player is the richest sportsman in the world. He has a net worth of $1.6 billion and continues to make more money through sponsorships. He is followed closely by Tiger Woods who is a golf player with a net worth of $800 million.
Summary of What's the Highest Paying Sport
The above are some of the sports that make the most money. These sports have produced the highest number of millionaires. Most players get most of their wealth from wages from their clubs. Other ways athletes make money is through sponsorships and endorsements.