Record Breaking £80-100 Million Bet on London Olympics

Written by:
Aaron Goldstein
Published on:
Aug/14/2012
Record Breaking £80-100 Million Bet on London Olympics

The final tallies are out and the big winners at this year’s London Olympics was not the athletes but rather the online bookmakers. 

An estimated £80-100 Million is believed to have been wagered on the London Olympics, according to Sporting Index.   Initial forecasts called for somewhere between £20-£40m.

“We made a conscious decision 18 months ago to invest heavily in our trading team, algorithms and modeling for the Olympics and we’ve been rewarded with unprecedented levels of interest,” noted Mark Maydon, commercial director at the Sporting Index Group.

Scroll Down For More....

Belmont-Mobile-081112L.jpg

Ladbrokes forecasts the industry will have taken in almost £80m for the entire two week period, compared with £4m from the Beijing Games in 2008.

It was not immediately clear as to how the books performed in terms of wins/losses, however, football betting specifically resulted in big wins for the bookmakers, especially with Mexico’s shocking gold medal victory against heavily favored Brasil. 

Great Britain walking away with the third largest medal count probably didn’t help matters, however.

- Aaron Goldstein, Gambling911.com Business

Gambling News

NJ Governor Murphy to Deliver Keynote Address at Betting on Sports America

NJ Governor Murphy to Deliver Keynote Address at Betting on Sports America

New Jersey Governor Phil Murphy will share his vision for the future of sports betting in the state at April’s Betting on Sports America conference, the biggest sports wagering trade event in the US.

Sports Betting Community Reacts to 60 Minutes Segment on College Athletes Throwing Games

60 Minutes Explores Legallized Sports Betting in the US and Potential for College Athletes to be Compromised

Nobody can sit here and tell you they can deal with this and be a hundred percent clean, Marshall University's Mike Hamrick asserts

How Do I Bet Sports on My Mobile Device From the US, My State

How Do I Bet Sports on My Mobile Device From the US, My State

You can bet sports and other events from your mobile device and from all 50 U.S. states.  Note that the below information will constantly be updated.

How to Create a Bookie Site

How to Create a Bookie Site

If you are looking to be a bookie then the fastest and easiest way to become one is by utilizing one of the many pay per head sites that offer a fully inclusive service with a website for your players to bet on all the sporting events in the world each day.

DraftKings Opening New Headquarters as it Plans Expansion

DraftKings Opening New Headquarters as it Plans Expansion

One of Boston’s largest tech companies is moving into a new corporate headquarters.

Syndicate