The upcoming World Cup 2022 is anticipated to be a significant betting event, with operators predicting record-breaking betting levels. The previous tournament in 2018 already held the title of the most bet-on sports event in history. Industry leaders such as Flutter and Entain are expecting a surge in betting activity, fueled by increased engagement, the participation of popular teams, and favorable market conditions. Additionally, operators are seizing the opportunity to form new partnerships and launch innovative products to enhance the betting experience for their customers.
High Betting Expectations:
Flutter, a prominent betting operator, has forecasted that its UK and Ireland brands alone will witness approximately £300 million in wagers during the World Cup. The inclusion of teams like the USA and Australia is expected to drive greater engagement with Flutter’s brands, such as FanDuel and Sportsbet. The 2018 tournament saw global wagers estimated at $136 billion according to a Fifa study conducted with Sportradar. Whether the upcoming event will surpass this record will depend on several factors, including the progress of the participating teams.
Operator Predictions:
Leading operators such as Ladbrokes, Coral, Bwin, and Entain are optimistic about the World Cup’s betting potential. Entain, in particular, anticipates a record-breaking number of active users, bets, stakes, and first-time deposits. Worldpay, a payments company, has conducted a study indicating that bookmakers expect a 15% surge in betting compared to the delayed UEFA Euro 2020 tournament. Notably, games featuring UK home nations are projected to attract 20% higher wagers, while evening games are expected to see stakes 15-20% higher than usual. As the tournament progresses, higher betting revenue can be anticipated.
Potential Liabilities and Costly Victories:
For Flutter, the USA’s odds of winning the tournament at 125/1 pose the largest single liability on their books during the World Cup. The American Gaming Association (AGA) estimates that 20.5 million Americans will collectively wager $1.8 billion on the event. A victory for the USA team could prove costly for betting operators. With important markets like the USA, Australia, Spain, and Brazil involved, Flutter is expecting global customer interest, highlighting the need for effective risk management and accurate pricing across their brands.
Opportunity for Partnerships:
Operators view the World Cup as an opportunity to establish new partnerships within the industry. Network Gaming, a betting technology company, recently announced partnerships coinciding with the tournament. These partnerships include media and B2B technology providers like Planet Sport, football analysis site Whoscored.com, horse racing media rights company At the Races, and 101 Goals, an XL Media-owned football streaming and betting tips site. Network Gaming aims to support these partners in engaging their audiences and increasing wallet share by offering innovative and differentiated products.
The World Cup 2022 is poised to set new records in the betting industry, with operators preparing for a surge in wagering activity. Anticipated high betting levels, increased engagement, and the participation of popular teams contribute to the optimistic outlook. Operators like Flutter and Entain foresee record-breaking numbers in various betting metrics. Additionally, operators are leveraging the tournament to form strategic partnerships and launch innovative products, providing customers with an enhanced betting experience. With the global excitement surrounding the World Cup, operators are poised to capitalize on this significant sporting event.