The packed summer sporting schedule presents a golden opportunity for gambling companies to attract new customers and drive significant revenue gains. Industry leaders from Betfred, Paddy Power, and Kambi are strategically positioning themselves to capitalize on this period, offering innovative products and targeting new betting markets.
The excitement kicked off with the start of Euro 2024 and continues with Copa América, Wimbledon, the US Open, and the Olympic Games in Paris. These high-profile events are expected to drive a surge in betting activity, providing a substantial boost to the sports betting sector. According to French gaming regulator L’Autorité Nationale des Jeux (ANJ), the Euro 2024 alone could see close to €1 billion in wagers. Similarly, the German Sports Betting Association (DSWV) predicts up to €1 billion will be bet on the tournament in its host nation.
Kambi’s head of soccer, Jonathon Hurst, emphasizes the potential of Euro 2024 and Copa América to attract a large number of new customers. He notes that both finals fall on the same day as the Wimbledon men’s singles final, creating a potential betting bonanza. This alignment of events offers a unique opportunity for sportsbooks to capture the attention of sports fans globally.
Rachael Kane from Flutter underscores the importance of major sporting events as pivotal moments for their betting operations. She highlights the extensive preparation and skill required to deliver a best-in-class experience for customers. This involves meticulous research and leveraging customer insights to ensure their products remain on the cutting edge of what punters desire.
Betfred is focusing on the UK market, offering competitive odds on England winning Euro 2024 and Scotland qualifying from the group stage. Mark Pearson, head of media at Betfred, mentions the growing popularity of unique betting markets and novelty bets. He also notes the importance of traditional bets, such as first goalscorer and correct score, which remain popular during major tournaments.
The presence of Home Nations like England and Scotland in Euro 2024 is expected to significantly boost betting interest. Pearson compares the event to the Grand National, with new customers drawn by the hype surrounding these major competitions.
In addition to football tournaments, Betfred sees Royal Ascot as a key event, being its official betting partner. Pearson explains that even in a year with a general election, events like the Euros dominate public attention, driving higher engagement and betting activity.
For Kambi, the focus is on both the Euros and Copa América, with a growing emphasis on the Latin American market. Jonathon Hurst expects a more balanced revenue distribution between these events due to Kambi’s expanding presence in the region.
The influx of new customers during these major events presents a challenge for operators: retention. Rachael Kane likens the betting industry to Tinder, where the goal is to turn a summer fling into a long-term relationship. Flutter aims to provide an enjoyable and trustworthy experience, ensuring customers feel valued and engaged.
Kambi has a proven track record in retaining customers acquired during major tournaments. Jonathon Hurst emphasizes the importance of maintaining a high-quality product and offering new bet types launched for big tournaments even after the events conclude. This approach helps keep bettors engaged and loyal.
Experienced companies in the industry, such as Kambi and Paddy Power, leverage their extensive knowledge and technology to meet and satisfy demand during major events. Kambi’s AI-powered trading division, Tzeract, plays a crucial role in delivering superior pre-match offerings. Meanwhile, Paddy Power’s consistent use of humor and engaging marketing strategies sets it apart, creating a unique and enjoyable customer experience.
The summer sports schedule offers immense opportunities for gambling companies to achieve off-pitch success. By focusing on marketing, product innovation, and customer engagement, companies like Flutter, Betfred, and Kambi are well-positioned to thrive in this competitive landscape. The true impact of their efforts will become evident in the following months as they release earnings reports reflecting the busy period.
