According to Barclays Plc analysts, betting on the FIFA World Cup is predicted to total $35 billion.
They predict that compared to the 2018 competition, there would be a huge increase in sports betting on this year’s tournament with the numbers amounting to a 65% jump from four years prior.
According to Barclays, which used data from betting analytics company H2 Gambling Capital, fans of licenced bookmakers would wager nearly $400 million on each World Cup group match, about $1 billion on each quarterfinal game, and up to $2.5 billion on the championship game.
Because Entain Plc, the parent company of Ladbrokes, has a stronger presence in both Europe and Latin America than Paddy Power owner Flutter Entertainment Plc, according to Barclays, the former has higher World Cup exposure.
The results of the games in Qatar have been “marginally operator-friendly,” stated the bank with so far various tied games, a circumstance that normally benefits bookmakers because the majority of bettors typically wager on one prevailing team.
Compared to previous tournaments hosted in the summer, matches are now taking place during peak European times during the winter months when fewer people are on vacation, say observers like James Rowland Clarke.
The U.S. is taking part in its first World Cup since legal sports betting became widely available in the nation, though Europe is likely the major base for World Cup wagers. Sportsbooks have taken advantage of this surge by launching deals that highlight World Cup competitions and spending a lot on advertising efforts.
Analysts have issued a warning that the rising cost of living combined with the holiday season will put a strain on their customers’ ability to place bets.