A total of $35 billion will be wagered on the 2022 FIFA World Cup, a 65% increase on the previous edition after a surge in online gambling during the pandemic, according to Barclays PLC analysts.
The analysts expect the jump in betting to boost profits of Ladbrokes parent Entain PLC, which Barclays says has more World Cup exposure than Paddy Power owner Flutter Entertainment PLC, thanks to the former’s strong presence in both Europe and Latin America.
Betting activity is being helped by matches being played at prime times for Europe during winter months when fewer people are away on holidays compared with past tournaments held in summer, analysts including James Rowland Clark wrote in a note. That’s giving an extra boost to the gambling industry, which has also benefited from "stickiness” of growth generated during lockdowns, they said.