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Events, Service Updates

Betting at London 2012 – smashing all records

There was much debate amongst betting industry experts prior to London 2012 as to whether betting activity would really take off. Sporting Solutions, the B2B software and data services division of the Sporting Index Group, has been supplying a number of leading bookmakers around the world with an Olympics pricing service and the figures from the industry suggest this has truly been the first ‘betting Olympics’. Before the tournament began, some firms were speculating that only £20-40m would be wagered in the UK on the globe’s biggest sporting event, no more than an average Premier League weekend, but industry estimates have been scaled up to nearer £100m now. In the UK the success of Team GB has undoubtedly had a positive effect on betting turnover compared with Beijing, as well as the more sociable times and blanket TV coverage from the BBC. However, possibly the biggest reason is the huge increase in the number of sports and markets available to bet on. Sporting Index, the world’s leading sports spread betting firm – and a customer of Sporting Solutions – is reporting it has taken over nine times the number of bets it took four years ago and has covered all 36 sports, many in-play, and over 300 events. An identical breadth and depth of coverage has been provided to Sporting Solutions’ fixed-odds partners who subscribed to the firm’s Olympics pricing package. As a result punters have had the opportunity to bet on everything from Greco-Roman Wrestling to Taekwondo. Mark Maydon, Commercial Director of the Sporting Index Group, said: “We made a strategic decision 18 months ago that there was going to be a surge in betting interest at London 2012 and invested accordingly, building algorithmic models and ensuring we had expert traders for every Olympic discipline. It looks like one bet that has really paid off.”