Article from the Financial Times about the return of sports fixtures across Europe and the sigh of relief coming from bookmakers. According to the European Gaming and Betting Association, two-fifths of its members annual gross gaming revenue, about €2.4 billion each year, is made from sports wagers. More than half of this is made through “in-play” betting, where punters put money on outcomes such as a race’s eventual winner or a game’s next scorer while the action is taking place.

From the article:

Kenny Alexander, chief executive of GVC Holdings, which owns the Ladbrokes and Coral betting brands and was catapulted into the FTSE 100 during lockdown, said that the return of the Premier League and Ascot Racecourse’s royal meeting this month had been “fantastic”. “At the end of the day, we are here to provide entertainment for the millions of customers in Britain who enjoy a bet, and that is a lot easier when there is quality sport to follow,” he said.

Analysts at Regulus Partners estimate that in northern European markets, gambling revenues have fallen between 40 and 60 per cent since coronavirus lockdowns were implemented in March. While not enough to offset this loss, bookmakers have seen a spike in online activity during lockdowns.

Slots and gambling games proved popular but online casino and poker sites had the biggest boost. In May, the UK FTSE 100-listed Flutter Entertainment said revenues across its sports-focused PaddyPower and Betfair brands had fallen 54 per cent in the quarter to mid-May compared with the same period last year.

However, this had been cushioned by a 92 per cent like-for-like increase in revenues at The Stars Group, the poker and gaming company that Flutter completed a £10bn merger with last month.
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