Euro 2020: What’s on the Cards for Betting?
In less than two weeks, Europe will host the biggest football championship across 11 major cities. The European Championship is set to have the grandest ripple effect on the sports betting industry since the pandemic.
Europe is geared to take the centre stage for the largest football championship—and possibly the biggest sporting event after the COVID-19 pandemic.
Bookmakers across the UK have sensed the thrill in the air as the tournament draws closer. Sportsbooks are expecting the bets to fly through the roofs as Britons break their betting dormancy with the onset of the big games.
With multiple nations hosting the football championship, regulatory reforms in the European gambling laws and technological innovations at disposal, does Euro 2020 provide just the right ingredients to get the sports gambling economy rolling?
Kicking Off the Gambling Economy
As the U.K. prepares to build on the success of its vaccine rollout and come back stronger—most of the world is still experiencing the ripple effects of the pandemic.
“From a fan engagement perspective, it’s certainly going to be different in a lot of ways,” commented Morten Hauge, Head of Sports at Aspire Global responding to SBC News. Hauge explicated the demographic’s tendency to consume live streams of popular sports tournaments in large gatherings, including cafés and pubs.
“While there are some nations that will be fortunate enough to enjoy the same experience, it’s likely the majority of Europe will still be facing lockdown restrictions and social distancing.”
While land-based gambling is expected to take the backseat this season, sportsbooks across Europe are preparing themselves to leverage the growing online gambling market. This is backed by the support from legal infrastructure as it becomes friendlier towards betting in the online space.
Fortuitously, the European landscape might be the most welcoming of this land-to-cloud shift. The European online gambling market accounted for nearly half (48.9%) of the global online gambling market in 2017 and has remained stable into 2021—with sports betting being the most popular form of online gambling. The UK remains the epicentre of Europe’s online gambling activity, accounting for 30.1% of its gambling market revenue.
The next frontier to conquer in the betting industry is cyberspace. Hauge foresees a ‘huge influx’ of new customers rushing into online gambling as they rush to find alternatives to its land-based counterparts—which is needless to say, rife with constraints at the moment.
While most of the iGaming industry has been keeping pace with technological innovations as they come, an upsurge of traffic in the online gambling sector will require the best industrial solutions so that sportsbooks don’t catch themselves shorthanded amid an upsurge in demand. Aspire Global has introduced an advanced ‘Player Account Management’ tool that provides insight into customer’s betting behaviour, optimizes transactions and helps in exponentiating revenues.
Tracking Engagement Through Insight
An insight into the mind of the modern player reveals how the focus has gradually shifted from betting on teams to betting on star performers of the tournament.
Sportsbooks have recognised this shift in interest and consequently, there are wagers available that bet on the statistical performance of players. When sportsbooks enable customers to bet on engaging questions in the community, such as “how many goals will Robert Lewandowski score in this match?”, the player engagement goes up significantly, thus underscoring the importance of community engagement and tailored betting offers.
Sportsbooks are reeling in casino-goers to Euro 2020—who’re likely to wager a bet to make match predictions.
“We are adding an industry first to the BtoBet API, a pocket sportsbook called AspireBattle, which is aimed at casino players that might be interested in the Euros”, said Morten Hauge, introducing a novel platform for betting.
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