SBC News OpenBet reports ‘exponential activity’ at Cheltenham Festival 2023

OpenBet reports ‘exponential activity’ at Cheltenham Festival 2023

OpenBet has revealed that it processed just over half a billion transactions across its sportsbook platform during last week’s Cheltenham Festival.

The platform, content and service provider to the sports betting industry explained that the annual four-day national hunt racing meeting produced an ‘exponential’ amount of activity.

Highlights amongst OpenBet’s customers included more than 65 million bets being processed and average stakes of £7.84 for singles in all Win & Each Way markets.

Jordan Levin, CEO at OpenBet, commented: “I am thrilled with the success that our OpenBet teams and customers achieved during the iconic Cheltenham Festival. The world’s leading sports betting brands rely on our people and technology for exceptional entertainment experiences at the biggest events in the sporting calendar. 

“The 2023 meeting demonstrated the tremendous partnership between our valued customers and OpenBet’s tech and operations, supporting the highest peak bets levels across most of our operator base, which is why so many of our customer relationships span decades.”

Furthermore, the operator also stated that a ‘handful of lucky punters’ achieved six-figure payouts backing Galopin Des Champs in the Gold Cup race on day four.

This year’s event saw Paul Townend and seven-year-old Galopin Des Champs win the Gold Cup.

The firm reported that interest in the race was high amongst bettors, experiencing a 22% rise in activity compared to last year’s event. 

“We’re deep into the final stages of testing and preparation for the Grand National on 15 April and look forward to delivering another seamless experience for our customers and their racing fans,” Levin concluded.

Flutter Entertainment has also this week reported strong trading across its full UK and Ireland brand portfolio from the festival, particularly bolstered by the unique timing of this year’s racing calendar.

The FTSE100 betting and gaming group recorded total stakes of over £250m and 37 million online bets over the four days of the festival across its Paddy Power, Sky Bet and Betfair brands.

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