Data courtesy of Barclays analysts projects a betting boom for bookmakers throughout the World Cup in Qatar, with total wagers set to rise incrementally round by round.
Particularly in Europe, the decision to host football’s biggest tournament in the Winter for the first time means colder weather and fewer holidays, leading to fans having more disposable income.
Add to that fixtures being played at prime time, a greater number of viewers are able to watch the majority of matches, which, in turn, increases the volume of bets.
It is interesting to note the bank analysts said results at this year’s tournament have been “marginally favourable to the operator”, with 12 draws by the close of the round of 16 which ultimately benefits bookmakers as punters tend to bet on one team to prevail.
In addition, several monumental upsets including Saudi Arabia’s victory over Argentina and Morocco’s penalty shootout win against Spain will have contributed to a favourable tournament for operators.
US Bettors Behind the Boom
According to Bloomberg Intelligence, the lifting of restrictions in the US on sports betting was predicted to have a huge bearing on the overall global wagering, with the World Cup becoming the first worldwide sporting event since the change in legislation.
$1.7 billion in US bets was the projected pre-tournament figure, and although the national team fell to defeat against the Netherlands in the knockout stages, their inclusion for the first time since 2014 will have boosted these figures.
Barclays also went on to present data which delved deeper into each round of the World Cup, which projected $400million in wagers on each group stage match of this World Cup, around $1bn per knockout game and an eye-watering $2.5bn when the final rolls around on December 18th.
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