Entain: Paris Olympic bets doubled from Tokyo as time zone proves more convenient
According to sports betting giant Entain, gamblers worldwide placed bets on the 2024 Olympics at double the rate of the Tokyo Games as the Paris time zone was apparently more convenient for punters.
Across Entain’s brands, the men’s basketball final was the most popular betting event, with the showdown between the USA and France generating “massive interest” through BetMGM in the US and other regions.
“This was an unforgettable Olympics in Paris where global superstars showcased their athletic prowess,” said Arild Ostbo, head of sports at Entain, “The world’s biggest sports event continues to grow in popularity and betting interest.
“For our customers, the time zone of Paris compared to Tokyo three years ago provided a much better window for people to engage and bet on,” Ostbo added.
Entain, the owner of Ladbrokes, also reported a surge in interest for typically overlooked sports like swimming, hockey, rowing, surfing, archery, canoeing, and climbing, all of which saw their betting volumes double from the Tokyo Olympics.
The top three sports by betting volume were tennis, basketball, and football. Swimming managed to sneak into the top ten, thanks to Katie Ledecky, who nabbed her ninth Olympic gold in Paris.
Athletics also jumped in popularity, especially the men’s 100m final, where bettors cashed in big on American Noah Lyles. His odds drifted from 5/4 to 9/2 after some lacklustre heats, giving his backers a nice payout.
Entain revealed last week that it did well out of the Euro 2024 tournament with a slew of football results going in the bookmaker’s favour. Total group net gaming revenue (NGR) including the company’s share of US betting firm BetMGM, rose six per cent to £2.56bn.
Despite posting a £47m loss after tax in the first half of the year, the company managed to recover some ground after a £503m loss in the same period of 2023.