World Cup draws record bets but predictable final damps profit

With the football World Cup finally at a close, Russian bookies are finding their profits are lower than expected, despite a surge in volume. Russian gambling analytics portal Bookmakers Rating estimated that bets worth up to RUB250 billion ($4 billion) were taken during the tournament, including in the illegal segment – bookmakers not legally registered in Russia. While authorities stepped up their campaign against illegal activities, the twists and turns of the tournament took their toll on the legal market. Russian media watchdog Roskomnadzor blocked more than 12,000 illegal gambling websites in June alone. Unexpected victories and defeats at the group stage initially looked quite promising in terms of profits, but the final game with its easily predictable winner reduced the profitability to 8-9 percent. Bookmakers now hope to retain at least some of the new customers, fearing an outflow in August after their overall turnover increased two- and three-fold compared...

Intelligence Articles is a premium content section developed for AGB members only featuring in-depth articles on relevant items of interest across the multiple Asia Pacific Gaming jurisdictions. To continue reading, subscribe now.