The gambling giant Entain, listed in London, reported that the 2024 Paris Olympics attracted a record amount of betting activity. The company stated that the betting volume was twice that of the 2020 Tokyo Olympics.
In terms of betting volume, basketball was the most popular sport, followed by football, tennis, and volleyball. The event with the highest betting volume was the men's basketball final between the USA and France.
The company also noted significant increases in betting volumes for swimming and athletics, which entered the top 10 Olympic betting sports, ranking 10th and 8th respectively. The most bet-on athletics event was naturally the men's 100 meters final. Noah Lyles had a mediocre performance in the preliminaries, and his odds dropped from 5/4 to 9/2, delivering a strong performance for bettors. The operator's biggest win was in the men's 1500 meters final, thanks to the unexpected victory of Cole Hocker at 20/1.
Entain's Sports Director Arild Ostbo stated, "This was a memorable Paris Olympics, where global superstars showcased their athletic prowess. The popularity and betting interest in the world's largest sports event continue to grow. For our customers, compared to three years ago in Tokyo, the Paris time zone provided a better window for participation and betting."
Meanwhile, Entain reported that excluding the US BetMGM joint venture, net gaming revenue for the first half of the year was £2.55 billion. On a nominal basis, this was a 6% increase year-over-year, but flat when adjusted for constant currency.
Revenue from the International and new Central and Eastern Europe divisions offset declines in the core UK and Ireland markets. The International division generated £1.16 billion in revenue, with Brazil (Entain's fastest-growing market) growing by 28% and the Baltic states by 8%. The division's underlying EBITDA grew by 11%, reaching £301 million. Entain Central and Eastern Europe reported separately for the first time on revenue from Poland and Croatia, which grew by 126%, reaching £241 million. Underlying EBITDA fell by 61%, to £85 million.
