The World Cup $60 billion betting opportunity

With the World Cup already under way, Robin Harrison and Ed Birkin are back with a data-packed episode covering H2’s betting estimates for the tournament, the UAE’s new regulatory CEO and what Finland’s market opening really looks like in numbers.

The big numbers behind World Cup betting

H2 Gambling Capital estimates $60 billion will be wagered through legal sportsbooks globally at this year’s World Cup, which is a 71% increase on the 2022 tournament. 

Among the three host nations, the US leads with $2.9 billion while Mexico is close behind at $2.5 billion. Tune in to find out what H2 estimates for a football-mad nation like Brazil.

In addition, Ed notes that operators should treat the World Cup as a customer acquisition opportunity rather than a pure revenue play. With 104 matches, up from 64 in 2022, margin uncertainty on results makes the revenue picture harder to call.

Cautiously positive in both the UAE and Finland?

As Robin reported, the General Commercial Gaming Regulatory Authority (GCGRA) has appointed Ciarán Carruthers as its new CEO, replacing Kevin Mullally, who left in November last year.

Carruthers brings significant Asian gaming experience from Galaxy, Sands China and Wynn Macau. Most recently, he steered Crown Resorts through its AML and responsible gambling remediation in Australia. 

Robin finds the appointment genuinely compelling in view of the pro-industry approach and real scope for land-based growth. Ed is more sceptical, arguing that the UAE online market will be largely irrelevant to most of the industry. Listen in to hear where they land.

In Finland, the number of companies that have applied for licences ahead of the market opening is far too high, according to the pair. 

H2 estimates the licensed online market will reach $1.4 to $1.5 billion by 2028, up from $275 million now. Yet Ed raises questions about the “bad actor” provisions and what happens to operators currently targeting the market. 

Ed closes with a pointed observation on the European Commission levy proposal: Is this what happens when AI-scraped data finds its way into policy?

Check out the full Right to the Source series for more iGaming insights.