SBC News OpenBet: Top four betting insights from World Cup 2022

OpenBet: Top four betting insights from World Cup 2022

SBC News OpenBet: Top four betting insights from World Cup 2022An enthralling World Cup that saw Argentina walk away with the most sought-after prize in world football proved to be hugely popular with bettors worldwide. 

Seemingly the world was backing Lionel Messi to finally win the only major title missing from his gleaming trophy cabinet, and the fact that he and Argentina proved them right ultimately added to the overall excitement and drama for players.

OpenBet, a world leader in sports betting entertainment that powers some of the world’s biggest sportsbook brands, was at the heart of the action to facilitate highly immersive experiences for fans across the global tournament. 

The company’s Chief Product Officer, Nikos Konstakis, details the key learnings from the World Cup, including how US players embraced the event, as well as the importance of flawless platform uptime. 

1. Record-breaking betting volumes despite winter tournament

With the tournament unusually taking place during the Winter period, there were some questions beforehand from industry observers on whether the timing would impact betting volumes. Clearly from the figures we have seen from our operator partners, appetite for World Cup betting opportunities was stronger than ever this year. 

OpenBet’s technology platform processed more than 200 million bets across all channels during the tournament – an increase of 13% compared to 2018. Interestingly, engagement was worldwide as fans across all corners of the globe looked to enhance the experience through sports betting entertainment. The fact that teams from across Africa, Asia, Europe and the Americas reached the knockout phase ensured that interest remained high for a wide audience into the latter stages of the tournament.

2. Continued demand for premium content products

Across European and North American markets, the desire from bettors for BetBuilders / Same-game Parlays shows no signs of dwindling. The World Cup was no different, with OpenBet’s leading BetBuilder solution, powered by SportCast’s unrivalled technology, processing more than five times the volume of bets processed during Euro 2020.

Before the tournament, we successfully introduced our player stats product that takes advantage of deep data to deliver more granular markets. The ability to offer odds on player-specific outcomes such as shots on target, assists and tackles has proven to resonate with recreational bettors who appreciate these types of markets. This is highly beneficial for sportsbook operators, particularly during major events like the World Cup that attract an influx of recreational punters.

Intriguingly, over 50% of BetBuilder stakes were from US bettors, which illustrates that those who enjoy SGPs on sports such as American football and basketball are finding just as much entertainment within soccer matches. 

3. Growing interest in betting on soccer from US fans

Staying with the US, this was the first World Cup to have taken place in a post-PASPA world and provided regulated sportsbooks with an opportunity to capitalise on a major global sporting event to enjoy increased engagement alongside their core offering.  In the US, soccer’s popularity continues to grow and in fact is now the fourth most popular sport. Interest from US fans is beginning to translate over into betting entertainment, with an increase of markets available across a host of retail and online sportsbooks.

Over 12 million bets were placed on USA’s World Cup fixtures, which accounted for $100 million in stakes. Clearly, interest in soccer betting is likely to grow, which is timely considering the next World Cup in 2026 will be held across the US, Canada and Mexico.

4. Platform reliability critical as ever

From an industry perspective, sporting spectacles like the World Cup serve as a powerful reminder as to why platform reliability is incredibly important. During peak times, operators experience an exponential surge from players looking to place bets, both pre-game and in-play. In fact, the dramatic final between eventual winners Argentina and France saw a significant increase of in-play wagers placed compared to what we typically seeing during football matches.

Much to the benefit of our worldwide customer network, OpenBet enjoyed flawless uptime that meant bettors didn’t miss a kick of the action throughout the month-long tournament. The ability to offer a seamless experience, from processing bets to delivering payouts, must never be underestimated and makes a real difference in offering the very best in customer service.

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