Brazil 2014 Odds-on To Become Biggest Sports Betting Event In History
Fri 2nd May 2014 | Money & Finance
This summer’s World Cup is anticipated to generate £1 billion in wagers making it a betting bonanza on an unprecedented scale
As the online sports betting market has continued to evolve and expand over the last decade so too has the entire betting sector. New innovations such as live in-play betting and the development of mobile platforms that mean punters can bet pretty much whenever or wherever have expanded the market and transformed the industry. This summer’s competition could be the first World Cup which sees more bets placed on mobile technology than in betting shops.
At the centre of the betting industry’s digital expansion has been the football betting market which has grown massively in recent years, outpacing the industry as a whole and adopting the expanded markets and new possibilities offered by online betting particularly effectively.
This football led growth seems set to reach a climax at this summer’s World Cup with an estimated £1billion World Cup market likely to smash sports betting records.
William Hill Spokeswoman Kate Miller is quoted in the Mirror suggesting the scale of this summer’s betting bonanza: “We expect betting turnover of around £200million and we have about 20% of the UK market.
"It should mean the first £1billion World Cup for the industry.
“For us it will be like eight Grand Nationals or four Cheltenham Festivals all rolled into one.”
Of course the scale of the UK market this summer is likely to be dependent on various factors, the most significant of which could prove to be the length of England’s campaign. The longer Roy Hodgson’s men can prolong English interests the more betting activity the local market is likely to see during the month long tournament.
So what are the odds on England keeping the bookies happy? At www.betfair.com England are currently available at 28/1 to win the World Cup. In truth there is limited hope that England can make history in the energy sapping heat of South America and there will be fears among bookmakers that they might not even make it past the first round. Betfair have England at a not exactly optimistic 11/10 to fall at the first hurdle.
Posted by: Aaron Gourley
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