We spend €2.4bn on sport and exercise, report finds

New research shows more than 1.6 million adults place bets on sporting events.

According to the Philip Lee Sport Report published by Amarach, 60% of gamblers go in store to place a bet. However, people aged between 25-to-34 years are more likely to place a bet online.

The report examines public attitudes and habits in relation to sport and fitness. It also shows that people spend €2.4bn on sport and exercise-related activities in Ireland each year.

The Irish public spends nearly €450m on sports clothing, footwear and equipment and €255m on sports club membership annually.

Philip Lee said the research showed sport plays a key role in Irish society.

"This sends a clear message that sport is big business," he said. "Reports also show that €1 spent on sport can deliver benefits of €5 in terms of better health and reduced crime."