The Gambling Industry Gears up for a Red Hot Summer Driven by the Euro 2016Published June 1, 2016
Euro 2016 presents gambling operators with a golden opportunity, as well as the punters who will not be short of places to wager on their favorite teams.
Euro 2016 is the second most important sports event of the year after the Olympics and the main attraction for football fans. For the gambling industry, it promises to be the most profitable one by far and bookmakers are entitled to expect a surge in revenue. Past performance suggests that during and after major football tournaments, more bets are placed by savvy punters as well as those who bet occasionally.
Nearly 200 Million People Watching the Games
The decision to change the format of the UEFA European Championship 2016 was criticized by some pundits. They’ve claimed that by having 24 teams representing 25 nations, the essence of the competition is diluted and games will be lopsided. At the same time, there were many who embraced the decision of the European forum to allow more countries to participate in a more inclusive football tournament.
The controversy will probably continue long after the Euro 2016 will have come to an end, but one thing is certain. The new format is solid gold for bookmakers, because with more countries at the starting race, the number of people betting on football will increase a lot. Many Central and Eastern European countries have their teams traveling to France, while millions of people will be watching from home.
Regardless of how their squads will fair, it is only fair to assume that many of the football fans will watch every single game. Some of them will want to make the games more exciting by placing a bet and this is how the wheels are usually set in motion. Even players who don’t bet on sports on a regular basis and don’t even watch football that often are expected to tag along. More than 2 million people will watch the games from the stands, but many more are probably going to bet at least once.
A Golden Opportunity for Bookmakers
Even if you are on the right track you will get run over if you simply sit there and this is something that bookies are well aware of. Euro 2016 presents them with an excellent chance to expand their customer base, but the handful of well targeted promotions will go a long way. Welcome bonuses represent just the tip of the iceberg, but further freebies offered to those who bet on soccer are known to work like a charm.
Many online gambling operators don’t limit themselves to the sports betting niche and also run a poker room and casino in addition to the bookmaker. Euro 2016 will obviously attract football fans first and foremost, but once players sign up for a real money account, they might want to check out casino games and poker. In fact, there are many fans of video slots who occasionally bet on sports and the other way around, now that gambling operators provide them with unified money accounts.
The off-season of European football leagues is usually a period dreaded by bookmakers, but in 2016 they have no reasons to worry. UEFA Euro 2016 will more than compensate the absence of domestic football matches and the number of bets is expected to surge by at least double digits.
The bottom line is that gambling related revenue and sports betting profits in particular will go up in the upcoming months. The best bookmakers will know how to take advantage of this red-hot summer, with the next challenge being to improve customer retention and turn new players into loyal members.