UK Bookies Gambling on England’s Performance
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UK Bookies Gambling on England’s Performance
12 Jun 2006
Online gambling sites and sports bookies are hoping that the Three Lions strike out early in the World Cup. This may sound to be a very unpatriotic wish, but it is the most financial sound scenario they could hope for. With the start of the World Cup underway, millions of sports bettors have been gambling on the outcome of matches and the expected winner. English fans, like others around the world, will be glued to their TV screens and while they would also love to cheer, the country's gambling firms will have to balance any such patriotism with reminders of their best commercial interests.
Basically, if England wins the World Cup, it would be the worst possible financial scenario for the sports gambling companies. It is estimated that the sports gambling industry could lose up to £15 million if the Three Lions rise to power in Germany. The stakes are extremely high this year, because the online betting industry has developed at an amazing pace since the last World Cup. Leading online gambling firms such as William Hill and Ladbrokes agree that more than £1bn is likely to be gambled on the tournament by UK punters alone: five times the £200m figure for the 2002 World Cup.
The rise of the popularity of internet gambling and the increased love of football in England has allowed for this gambling explosion for this year’s tournament. The bookies know that financially it would be a disaster that England would win the World Cup, but they say the pride would numb the pain, somewhat.
