Football accounts for the biggest percentage of sports betting already, so when tournaments are playing it’s a great time for sportbooks. The World Cup is in full swing now, and online sportsbooks are reporting the best World Cup ever for online gambling.
Sports betting is worth around £600 billion a year worldwide and more than two thirds of that trade comes from football betting. With that in mind, the World Cup was always going to generate plenty of money for the industry! With the 2018 World Cup in full swing, it’s thought that gamblers around the world have wagered around £41 billion already, and bookmakers say it’s smashing all records.
The UK alone has seen £2.5 billion in wagers, more than double what the online industry took in 2014, and it’s all down to availability and convenience.
It’s so easy to place a bet today—you don’t even need to find a computer. Most sportsbooks offer apps that you can use from your smartphone or tablet, meaning placing a football bet is as easy as phoning your mum.
The World Cup also appeals to occasional gamblers. Even those who do not place bets regularly see no harm in betting on a tournament that only takes place every four years. That means events like this one see both regular gamblers and those who only gamble occasionally spending cash. It’s almost like the Grand National of football, but it goes on for even longer and there are even more betting opportunities.
While it’s good news for the online branch of sportsbooks, it may not be so good for the high street, as a certain amount of this record spend will be cash that would have in previous years gone over the counter of high street bookmakers. What the long-term effect of this will be is yet to be known, but betting shops are closing their doors at an alarming rate.