Payment provider DataCash has analysed the betting transactions it carried out during the 2014 Cheltenham Festival and discovered a 30% increase in transactions compared to 2013 and up 123% since 2010.
In total, over £74.6 million was spent in 2.77m transactions during the four day period across all currencies, including £63.8 million in GBP alone, representing 85% of the total. Further information revealed includes:
- The busiest day for transactions was the fourth day totalling £20.3 million across all currencies, showing a 35% increase over the same day last year
- However, the most money was spent on the first day of the meeting, totalling £21.9 million across all currencies
- The highest number of transactions per hour across every day was recorded between 1pm – 2pm
- The largest value of a single transaction in GBP was £98,000 and the largest in EUR was €10,000
- The average amount customers topped up their betting ‘wallet’ was £36 over all currencies
Wendy Dobson, Director of Sales at DataCash said: “It’s interesting to see year on year growth during the Cheltenham Festival, and it shows the industry is innovating to meet both customer and merchant needs. Today’s betting companies want to ensure that customer transactions are as efficient as possible, especially during the busiest times when customers need safe and convenient payment methods. A proliferation of payments via smartphones in the UK has also guided the shift to mobile betting and its overall growth in the UK market is very exciting to see.”