Paris Saint-Germain beat Inter Milan in the Champions League final and, even though there were no English teams involved, it was a record night for us. We’re still growing, so we’re seeing record numbers after record numbers – but the final was our biggest ever sportsbook event in terms of volume.
We saw much more engagement in the Champions League final compared to Manchester United versus Spurs in the Europa League final. I’m not sure if that was the case for other operators, but maybe. All-English European finals naturally attract huge interest from a UK betting audience, but the Champions League final tends to carry that pull regardless of who’s playing.
Dembélé drawing a blank was a blessing
PSG were on fire against Inter but Ousmane Dembélé – who was among the favourites to score – wasn’t able to find the net. It was a lower-margin event than a typical standalone match, where you’d usually see a high amount of bet builder activity. There were a significant number of shots, shots on target and five goals which impacted margin.
However, margin was helped by the fact the goals came from players who were less popular in the betting. Dembélé would probably have been the most-backed player across operators, but instead, Désiré Doué and Khvicha Kvaratskhelia both scored. The pair were well backed but less so than Dembélé. Avoiding anything Inter Milan-related, Lautaro Martínez in particular, was also a win.
Overall, it wasn’t a losing event for us. We were probably just a goal or a shot on target away from it becoming a losing event, with Dembélé and Martínez representing a significant proportion of our business. What you typically see on single events is a concentration of volume through a small number of players, which can lead to a high level of bet builder volatility.
New Champions League format helped boost revenues
This season saw the introduction of the new-look Champions League, with the old group stage format replaced by a single league format. The number of teams increased from 32 to 36, meaning 189 matches instead of 125, excluding qualifying rounds. More games in a highly engaged competition naturally benefits us in terms of handle, but having additional events doesn’t always drive upside.
A Champions League night is a big event in the week for a UK sportsbook. Those additional games have been beneficial in terms of driving turnover. Of course, there’s a point of diminishing returns where you can’t just saturate the product with a lot more low-quality events; that needs to be supported with something to play for, which was not always the case going into the final rounds of the previous format.
The new format, however, generally felt like it provided at least as many competitive games where there was still jeopardy going into the back end of the league stage, which helps with engagement. Ultimately, three of the top four teams from the league format reached the semi-finals, and table-toppers Liverpool were only knocked out by the eventual winners. That suggests the new format may be having its intended effect, though it’s a small sample size, and I’m sure the jury’s still out for many.
Club World Cup an unknown quantity for sportsbooks
The FIFA Club World Cup starts on Saturday 14 June, and is a bit of an unknown at the moment. There’s a significant prize pool – up to $125m (£92.3m) for the winner – which incentivises teams to bring strong squads. We’ve already seen players like Trent Alexander-Arnold moving from Liverpool to Real Madrid. Clubs will want to win it, so they’ll field strong teams, which in turn boosts the quality of content sportsbooks can offer during what is traditionally a quieter period.
The timing will be challenging because it’s in the US, but in terms of the quality of the football and the number of what, we hope, are competitive matches, content will be comparable to a regular season in what customers are able to bet on. It’s just a question of whether the event captures the same level of engagement as domestic or European football competitions. It’s an unknown – but fingers crossed.
Patriotic fans will back the Lionesses
Meanwhile, England’s women will attempt to defend their Euros crown in Switzerland next month. When it comes to betting on women’s football, we’ve definitely seen an increase in engagement, though it hasn’t kept pace with the overall audience growth.
I think that’s down to the demographics of the traditional football bettor compared to the consumer of women’s football. It’s not just women who watch women’s football; there’s a mixed demographic. It’s definitely become a more prominent part of the sportsbook but you’re still not seeing close to the same level of engagement as the big five or six leagues and European competitions. I’m sure this varies operator to operator.
When it comes to England and tournaments, though, the engagement goes up three or fourfold, just like with the men’s national team. I expect the same with the Women’s European Championship. That’s when you see the spikes – when the Lionesses and England’s men are playing. So, while it hasn’t exploded, it’s definitely growing. The England national team – whether men’s or women’s – is where you see the highest levels of engagement.
Zach Amin joined Midnite as vice-president of sportsbook in April, having previously been head of Sky Bet trading at Flutter.
The post FIFA Club World Cup an “unknown quantity” for operators, says one UK bookmaker first appeared on EGR Intel.
Midnite’s Zach Amin shares insights from last season’s expanded UEFA Champions League as well as likely betting interest in the upcoming FIFA Club World Cup and the Women’s Euros
The post FIFA Club World Cup an “unknown quantity” for operators, says one UK bookmaker first appeared on EGR Intel.