OpenBet praises World Cup as record-breaking wagering success

OpenBet praises World Cup as record-breaking wagering success

Any doubts about sportsbooks’ performance during the World Cup were put to rest during the tournament thanks to a ‘high level of engagement’, according to OpenBet.

The sportsbook technology and content supplier processed 200 million bets across its channels, totalling $2bn across the four-week tournament, representing a 13% uptick on the 2018 World Cup.

The improvements were driven by a ‘high level of engagement’ between bookmakers and customers, bolstered by the fact that every global region had some representation throughout the majority of the competition.

OpenBet CEO Jordan Levin said: “This year’s World Cup has been a record-breaker in terms of engagement, and we are thrilled to have provided operators and bettors with an experience to match the sporting spectacle displayed in Qatar.

“Alongside a strong performance in Europe, the growth we have seen in North American markets demonstrates our ability to cater to these rapidly regulating jurisdictions, and this also puts us in good stead for the 2026 World Cup, set to be held in the US, Canada, and Mexico.”

A breakdown saw OpenBet experience ‘record-breaking performances’ in Europe and Canada, with engagement levels reaching 22% and 21% respectively. 

Similarly, GeoComply also revealed this week that the World Cup Final was the second most popular fixture of the year for US bettors, behind the Super Bowl. 

Additionally, There was strong demand for OpenBet’s bet builder product, which processed more than five items the number of Euro 2020 bets, of which 50% were from US bettors, as the company highlighted increased engagement with soccer among American consumers.

In support of this claim, the company pointed to 5.6 million bets placed on the England vs USA game, with the national team’s matches drawing £100m in stakes, 200% the size of March Madness turnover across the country. 

OpenBet’s positive experience with bet builders mirrors a similar experience for Kindred, as the international sportsbook found that 29% of placed bets on its platform were multi-bets. 

Speaking ahead of the semi-finals, Kindred’s Sportsbook Commercial Relations Manager Jonas Kobberholm said: “The real strength of the product comes to shine as the tournament progresses leaving fewer matches to place a classic combination bet on by the round.”

Prior to the World Cup, some bookmakers had been apprehensive about betting performance, pointing to increased financial pressures faced by customers around Christmas and interference with the domestic leagues.

Speaking at the SBC Summit Barcelona, a panel of speakers highlighted customer engagement as paramount before and during the World Cup to address these challenges. 

If OpenBet and Kindred’s experience is anything to go by, this engagement has not been an issue, and as the former noted, bookies have been significantly assisted by record viewing figures. 

FIFA estimates that 1.5bn people watched the final on Sunday, accounting for 18% of the global population, whilst the ‘thrilling’ match also boosted in-play bets, which amounted to ‘around a third of bets and nearly half of stakes’.

SBC News OpenBet praises World Cup as record-breaking wagering success

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