London marketing firm Latitude Digital has predicted that nearly half of all betting on the looming World Cup will be down to online gambling.
The company’s chief executive Alex Hoyne made the bro 138 prediction in BusinessWeek magazine, in an article which went onto note that online gambling is far less profitable for established bookmakers such as William Hill.
It revealed that last year, the bookie’s gross profit margin at its real-life betting shops was 17.7 per cent, whereas its online gambling operations had a profit margin of just 6.6 per cent.
It is estimated that around a billion pounds will be spent on betting during the World Cup, making it a potential goldmine for online gambling companies that discover the most effective way of exploiting the buzz surrounding this sporting tournament.
However, not everyone in the sector is as optimistic as Mr Hoye about its prospects during the World Cup. The 888 group told the Independent newspaper this week that the contest actually posed a danger to the profits of online gambling, as it would exacerbate the problems posed by the summer months, where punters give up their sofas and laptops and venture outside more often.
888 said that even though many matches will be viewed indoors, the main betting will be on the matches, so online concerns dedicated to poker or other casino games could lose out there.
As to whose prediction is the most accurate, time will tell. But online gambling companies that wish to do well from the World Cup should certainly look into the possibilities that the tournament will create for them, and they should be prepared to be flexible.