Olympics Betting Generates Millions for UK Bookmakers

 As expected, the UK gambling market fared very well during the 2012 London Olympics. Bookmakers from across the country saw impressive growth during the two-week period during which the Olympics took place, thanks to increasing interest in online betting and mobile gambling applications.

Ladbrokes, one of the biggest UK gambling operators, reported processing £80 million in wagers during the Olympics. Normally, the company would only see this type of activity over the course of a financial quarter, but the London Olympics ‘caused a flurry of betting activity that had never before been seen in the online gambling market.

During the 2008 Beijing Olympics, Ladbrokes brought in just £6 million in wagers. At that time, the company had only offered odds on 16 of the sports being played. This year, punters could wager on all 302 events that took place at the Olympics.

The availability of odds certainly helped to boost activity in the online betting market; however, mobile betting also played a big role. With more and more UK residents using their smart phones and tablet computers for gaming and other everyday activities, it was almost inevitable that the mobile market would present a huge boost to the Olympics’ betting activity.

 

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