Sports participation today are beyond mere fun and entertainment as it is also a source of making money through engaging in sports betting which is the prediction of a sporting event and placing a wager on the outcome of an event to win money which has a great impact on the social and economic development of youths. Unemployment among the youths is one of the most serious challenges which increase the poverty level, inflation and insecurity in society, and as such majority of youths engage in sports betting practices for a social-economic reason. The study examined the impact of sports betting on the socio-economic development of youths in Kwara State. The objectives of the study were to: (i) determine the relationship between sports betting and quality of life of youths; (ii) determine the relationship between sports betting and leisure activities of youths; (iii) determine the relationship between sports betting and social capital development of youths; (iv) determine the relationship between sports betting and entrepreneurial ventures of youths; (v) determine the relationship between sports betting and personal income of youths; and (vi) determine the relationship between sports betting and revenue accruable to youths.rnDescriptive research design of survey method was used for this study. The population consisted of 845, 860 youths within the age of 18 - 30 years in Kwara State. A multistage sampling technique was used to select 1146 respondents. A researcher-developed questionnaire which was validated by three experts was used for the study. Test re-test was conducted to ensure the reliability of the instrument and 0.82 co-efficient was obtained. The data collected were statistically analysed using inferential statistics of Pearsonâ€™s Product Moment Correlation at 0.05 alpha level.rnThe findings of the study were that:rn(i) there was a significant relationship between sports betting and quality of life of youths (cal. r 0.054, p< 0.001,@ 0.05 Alpha level);rn(ii) there was significant relationship between sports betting and leisure activities (cal. r 0.412, p< 0.001,@ 0.05 Alpha level);rn(iii) there was a significant relationship between sports betting and social capital development of youths (cal. r 0.374, p< 0.002, @ 0.05 Alpha level);rn(iv) there was significant relationship between sports betting and entrepreneurial venture of youths (cal. r 0.511, p< 0.001,@ 0.05 Alpha level);rn(v) there was a significant relationship between sports betting and personal income of youths (cal. r 0.620, p< 0.004,@ 0.05 Alpha level); andrn(vi) there was a significant relationship between sports betting and revenue of youths (cal. r 0.433, p< 0.003,@ 0.05 Alpha level).rnThe study concluded that sports betting promoted social interaction and economic development of youths in Kwara State. This implies that sports betting play an important role in the social and economic development of youths. The study recommended that sports administrators should create awareness through the media to sensitize the youths and the general public on the benefits of participating in sports betting.