Championship Competition in the FIFA World Cup Set to Break Betting RecordsPublished November 22, 2022 by Lee R
Increases in betting from prosperous countries will drive up betting at the 2022 World Cup.
Not surprisingly, but no less newsworthy, a record of bets amount will be placed on the 2022 FIFA World Cup.
The 2018 affair was a valid precursor, establishing itself at the time as the most bet-upon sports event in history. Global sports betting operators are already preparing for the spike in betting activity at their sites.
Betting shop Flutter predicts staking of over £300m for its UK and Ireland brands during the World Cup. Flutter further expects its FanDuel and Sportbet brands to see greater engagement with USA and Australia competing in this year’s cup.
Total Stake Estimate
Working off 2018 figures, Flutter quotes a FIFA study conducted in conjunction with Sportradar, estimating a total global stake of $136bn in teams competing in 2018.
The ability of teams from wealthy countries to advance is the most significant factor affecting the extent to which the 2022 World Cup surpasses its predecessor.
All in Agreement
Other major betting providers Ladbrokes, Coral and Bwin have expressed their support for Sportingbet brand operator Entain’s prediction of record numbers of “actives, bets, stakes and first-time deposits.”
Euro Cup Surge
Payment company Worldpay sponsored a relevant Fidelity National Information Services (FIS) study that predicts a 15% increase in betting from the last major international football event, the delayed UEFA Euro 2020 tournament.
Total Volume Prediction
In light of over 2.5 million payments worth some £50m processed during the Euro final between England and Italy reported in the same study, certain games during this World Cup may be reasonably expected to bring in more betting revenue and volume.
Per Game Factors
Games featuring national teams from the UK region are expected to bring in handles of more than 20% over other games, with evening games garnering stakes 15-20% higher than the median for the tournament games. The more advanced the games are, the higher will be the revenue earned on bets as well.
Adding markets such as the USA and Australia to the teams playing in the Cup also helps.
The American Gaming Association estimated that $1.8bn would be bet by 20.5 million Americans on the World Cup.
Flutter Chief Speaks
Flutter group chief trading officer Dom Croswaite lauded “the involvement of countries such as the USA, Australia, Spain, and Brazil – all important markets to Flutter.”
The increased popularity of online betting, the hunger for betting on active events post-COVID, and the addition of key countries to the tournament all should contribute to unforeseen jumps in activity for this Mundial.