Bookies hoping to make a killing, writes Rowan Philp
Jun 6, 2010
By Rowan Philp
Times Live (South Africa)
This week, Global Betting and Gaming Consultants in London released a report that projected that £3.35-billion (R38-billion) would be lavished onlegal betting alone on the 64 matches of the tournament.
Meanwhile, experts estimate that a similar figure will be spent on illegal betting, particularly in Southeast Asia.
South Africans lost R617-million gambling on sports events last year, and it is projected that they will blow R873-million on unwise bets by 2012, prompting UK bookmakers Ladbrokes to acquire a licence in South Africa this year.
Lorien Pilling, head of research of Global Betting, said the 2010 World Cup represented a "perfect storm" of gambling, which would take it at least 15% higher than the previous record event - the 2006 tournament.
He said factors favouring the increase included:
Global bookmakers William Hill are offering a record 97 categories to bet on for the England-US match on June 12, from who will first be substituted to whether a goal will be scored in extra time.
Ciaran O'Brien, a spokesman for Ladbrokes, said he expected betting in Britain alone to reach £750-million (R8.4-billion) and a global 15% increase over 2006.
"Without doubt, this will be the biggest focus for betting, ever," he said.
However, he said bookmakers would likely lose money overall if England won the tournament owing to "disproportionate" and "patriotic" betting by the English.
Lisa Haines, a co-owner of South African bookmakers SportsBet, said "some patriotic South Africans have been betting a few hundred" on Bafana Bafana winning the tournament, despite odds of 125-1, although most money was going to bet spreads and the chance that the home team might make the second round.
She said Spain, at 7-2, was the betting favourite, followed by Brazil, Argentina and England, while South Africans so far felt that Ivory Coast would finish highest among the six African teams, with Bafana only fourth.
"So far, South Africans are backing the Brazilian striker Fabiano to be the top scorer," she said. "I've never seen interest like this. People who have never bet on anything before are laying bets. The image of sports betting has changed."
Byron Cornish, a 23-year-old Cape Town economics student, said he planned to bet at least R3000 during the tournament, despite his "meagre" income.
"I got into it about five years ago, as a side thing - mostly betting on the (English) Premiership," he said. "I find it really makes me watch the matches closely, and it makes it exciting, although I have to say I'm probably behind in terms of money overall."
He said he would likely bet on a "good" outside chance of Honduras progressing to the second round and on Holland to go deep into the tournament, as well as a small "patriotic bet" on Bafana.
Pilling said several governments in Southeast Asia were concerned that citizens might bankrupt themselves through irresponsible betting, with Cambodia - the most betting-mad country of all - having issued this warning ahead of the 2006 World Cup: "Go ahead and watch it (the World Cup), but do not sell your cows, motorcycles, cars, homes and land to bet on the games."
Jun 6, 2010
By Rowan Philp
Times Live (South Africa)
Pilling said several governments in Southeast Asia were concerned that citizens might bankrupt themselves through irresponsible betting, with Cambodia - the most betting-mad country of all - having issued this warning ahead of the 2006 World Cup: "Go ahead and watch it (the World Cup), but do not sell your cows, motorcycles, cars, homes and land to bet on the games."The World Cup will be the biggest gambling event in history. In South Africa, punters are betting on everything from the number of red cards in a match to whether Portugal's theatrical star, Cristiano Ronaldo, will be booked for "diving" (currently being offered at around 2-1).
This week, Global Betting and Gaming Consultants in London released a report that projected that £3.35-billion (R38-billion) would be lavished onlegal betting alone on the 64 matches of the tournament.
Meanwhile, experts estimate that a similar figure will be spent on illegal betting, particularly in Southeast Asia.
South Africans lost R617-million gambling on sports events last year, and it is projected that they will blow R873-million on unwise bets by 2012, prompting UK bookmakers Ladbrokes to acquire a licence in South Africa this year.
Lorien Pilling, head of research of Global Betting, said the 2010 World Cup represented a "perfect storm" of gambling, which would take it at least 15% higher than the previous record event - the 2006 tournament.
He said factors favouring the increase included:
- Improvements in technology and online power, which had enabled live, or "in-running", bets to increase dramatically since 1996;
- An "ideal" time zone for Europeans to bet their euros on matches as they happen;
- The fact that almost all "major" teams qualified, including France and Holland; and
- The fact that tens of thousands of fans who attended the 2006 World Cup in Germany won't make it to South Africa and will be "far more likely to place match bets" while watching on TV at home.
Global bookmakers William Hill are offering a record 97 categories to bet on for the England-US match on June 12, from who will first be substituted to whether a goal will be scored in extra time.
Ciaran O'Brien, a spokesman for Ladbrokes, said he expected betting in Britain alone to reach £750-million (R8.4-billion) and a global 15% increase over 2006.
"Without doubt, this will be the biggest focus for betting, ever," he said.
However, he said bookmakers would likely lose money overall if England won the tournament owing to "disproportionate" and "patriotic" betting by the English.
Lisa Haines, a co-owner of South African bookmakers SportsBet, said "some patriotic South Africans have been betting a few hundred" on Bafana Bafana winning the tournament, despite odds of 125-1, although most money was going to bet spreads and the chance that the home team might make the second round.
She said Spain, at 7-2, was the betting favourite, followed by Brazil, Argentina and England, while South Africans so far felt that Ivory Coast would finish highest among the six African teams, with Bafana only fourth.
"So far, South Africans are backing the Brazilian striker Fabiano to be the top scorer," she said. "I've never seen interest like this. People who have never bet on anything before are laying bets. The image of sports betting has changed."
Byron Cornish, a 23-year-old Cape Town economics student, said he planned to bet at least R3000 during the tournament, despite his "meagre" income.
"I got into it about five years ago, as a side thing - mostly betting on the (English) Premiership," he said. "I find it really makes me watch the matches closely, and it makes it exciting, although I have to say I'm probably behind in terms of money overall."
He said he would likely bet on a "good" outside chance of Honduras progressing to the second round and on Holland to go deep into the tournament, as well as a small "patriotic bet" on Bafana.
Pilling said several governments in Southeast Asia were concerned that citizens might bankrupt themselves through irresponsible betting, with Cambodia - the most betting-mad country of all - having issued this warning ahead of the 2006 World Cup: "Go ahead and watch it (the World Cup), but do not sell your cows, motorcycles, cars, homes and land to bet on the games."
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