Entain sees record betting on Olympic Games

Paris 2024 generated double the betting volume of Tokyo 2020.

UK.- The London-listed gambling giant Entain has reported that Paris 2024 attracted record betting activity on the Olympics. It says it took twice the betting volume of Tokyo 2020.

Basketball was the most popular sport to bet on by volume, followed by football, tennis and volleyball. The individual event that generated the most wagers was the men’s basketball final between the USA and France.

The company also noted sharp increases in betting on swimming and athletics, which entered the top 10 Olympic sports for betting volume at 10th and eighth place respectively. The most popular athletics event for betting was naturally the Men’s 100m final. Noah Lyles delivered strongly for bettors after his price fell from 5/4 to 9/2 following an average performance in the heats. The operator’s biggest win was in the Men’s 1500m final thanks to a surprise win from 20/1 Cole Hocker.  

Entain head of sports Arild Ostbo said: “This was an unforgettable Olympics in Paris where global superstars showcased their athletic prowess. 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.” 

Meanwhile, Entain has reported that H1 net gaming revenue excluding the BetMGM joint venture in the US came in at £2.55bn. That’s a rise of 6 per cent year-on-year on a nominal basis but flat on a constant currency pro-forma basis.

Revenue from the international segment and the new CEE Unit offset a decline in the core UK and Ireland market. The former generated £1.16bn, with revenue from Brazil, Entain’s fastest growing market, up by 28 per cent and revenue from the Baltics up 8 per cent. Underlying EBITDA for the segment was up 11 per cent to £301m. Reported individually for the first time, Entain CEE’s revenue from Poland and Croatia rose 126 per cent to £241m. Underlying EBITDA fell 61 per cent to £85m.