The Paris 2024 Olympic Games have proven to be a milestone event for Entain, a leading global betting operator, marking a significant surge in betting traffic. This year’s Olympics not only showcased the world’s top athletes but also highlighted a record-breaking volume of bets, particularly in basketball, which emerged as the most popular sport among bettors.
Unprecedented Betting Volume: A Record-Setting Olympics
Entain has revealed that the Paris 2024 Games have set a new benchmark for betting activity, doubling the volume recorded during the previous Tokyo 2020 Olympics. This surge makes Paris 2024 the most popular Olympic event in Entain’s history, reflecting a growing global interest in wagering on Olympic sports.
Basketball took the lead as the sport with the highest betting volume, surpassing other popular sports like football, tennis, and volleyball. The men’s basketball final, featuring the USA against France, was the standout event, attracting the most wagers of any single event during the Games. The intense competition and global fanbase of basketball likely contributed to this overwhelming interest.
Key Highlights: Top Sports and Events Driving Betting Traffic
While basketball dominated the betting landscape, other sports also saw significant activity. Football, tennis, and volleyball followed closely behind in terms of bet volume, showcasing the diverse interests of bettors. Notably, both swimming and athletics witnessed remarkable spikes in popularity, securing their places in the top 10 most wagered-on sports.
Athletics, traditionally a centerpiece of the Olympics, saw heightened betting interest, with the Men’s 100m final standing out as the most popular event. Noah Lyles’ performance in this event was particularly noteworthy; after an average performance in the heats, his odds shifted from 5/4 to 9/2, creating an exciting opportunity for bettors. However, it was the Men’s 1500m final that delivered Entain’s best result, with a surprising victory by 20/1 outsider Cole Hocker, which proved to be a lucrative outcome for the operator.
Paris 2024 vs. Tokyo 2020
One of the most striking insights from Entain’s data is the comparison between the Paris 2024 and Tokyo 2020 Olympics. The Paris Games not only doubled the betting volume but also saw a broader distribution of wagers across various sports, suggesting an increasing engagement from a diverse audience. The time zone of Paris, compared to Tokyo, provided a more convenient window for global audiences to engage and place bets, contributing to the increased volume.
Entain’s Head of Sports, Arild Ostbo, highlighted the significance of this timing difference: “This was an unforgettable Olympics in Paris where global superstars showcased their athletic prowess. The world’s biggest sports event continues to grow in popularity and betting interest. For our customers, the time zone of Paris compared to Tokyo three years ago provided a much better window for people to engage and bet on.”
Beyond the Olympics: A Broader Context in Sports Betting
Despite the record-breaking statistics from the Paris 2024 Olympics, it is essential to contextualize this success within the broader sports betting landscape. While the Olympics attracted unprecedented betting activity, it still represents a fraction of the wagering traffic generated by major football tournaments like Euro 2024 or the Copa America. These events typically command even higher levels of engagement and betting volume due to their massive global following.
Nonetheless, the upward trajectory of Olympic betting is a positive sign for operators like Entain, indicating that interest in Olympic sports is not only sustained but growing. This trend aligns with the broader increase in sports betting activity reported in Entain’s H1 results, where the company noted a 6% rise in total group net gaming revenue.
The Paris 2024 Olympic Games have set new records for betting activity, with Entain reporting unprecedented volumes of wagers across multiple sports. Basketball’s dominance, alongside significant interest in football, tennis, and athletics, illustrates the diverse and growing appeal of Olympic sports in the betting world.
As sports betting continues to expand globally, the success of the Paris 2024 Olympics serves as a reminder of the potential for growth in this market. While the Olympics may not yet rival the betting volumes of major football tournaments, its steady increase in popularity suggests a promising future. Entain’s strategic focus on delivering a better experience for bettors, especially in terms of timing and event coverage, is likely to pay dividends as the global appetite for sports betting continues to rise.
The Paris 2024 Olympics were not just a celebration of athletic excellence but also a significant milestone in the world of sports betting, setting the stage for even greater engagement in future global sporting events.