The group did not disclose exactly how much its customers around the world bet on Paris 2024 in its report.
The increase in handle, Flutter said, was due to growth within new markets. It highlighted the US, with 23 states now offering legal sports betting, compared to 10 at the Tokyo Games. However, it also noted the value of bets placed through its FanDuel brand in those 10 states more than doubled.
Flutter said Paris 2024 also benefit from more favourable viewing times for its customers in both Europe and the US. In addition, it noted an “abundance” of dramatic storylines that captured the attention of bettors.
“Many people who aren’t typical sports fans are Olympics fans,” FanDuel sports trader Eric Gerson said. “It’s a unique chance to branch out to new audiences we wouldn’t normally reach.”
Popularity of parlay bets rockets for Flutter
In total, Flutter offered betting on more than 30 sports and over 320 individual events. It also added a range of new offers tailored to the Games, including swimming and athletics related parlays, as well as same-game parlays – which combine multiple bets from the same game into a single wager – for basketball.
Such offers meant parlays accounted for 55% of all wagers placed on Paris 2024 via Flutter brands. This is significantly higher than 20% at the Tokyo Games in 2021.
In addition, Flutter said parlay betting helped drive basketball wagering during the Games. Basketball accounted for 63% of all bets made on Paris 2024, compared to 40% at the last Games.
Female sports interest helped drive Olympics betting
Flutter also references a rising interest in women’s sports. Paris 2024 was the first Olympics to feature an equal number of male and female athletes. On the back of this, Flutter said 24% of all Olympics bets placed through FanDuel were on female events.
In addition, women’s competitions dominated certain sports. Flutter said 79% of all wagers on gymnastics were on female events, many of which featured US superstar Simone Biles. Furthermore, 60% of all football bets were on female matches.
“The Olympics are more than just a series of competitions, they are a global celebration that brings people together,” Flutter’s head of in-house global sports trading Simon O’Shea said. “As the landscape of sports wagering rapidly evolves, for Flutter, the success of this year’s Games points the way toward further growth and innovation.”
Original article: https://igamingbusiness.com/sports-betting/flutter-olympics-betting-paris-2024/
