Control F5 expects Olympic Games Paris 2024 to boost sports betting market

The Olympic Games in Paris, France, begin on July 26 and will last until August 11, bringing together athletes from all over the world in various sports. For Control F5, a company that offers solutions for the betting and iGaming sector, this international event represents a great opportunity for the segment.

In an article published on its blog, the company highlights some points of attention related to the Olympic Games and mentions that, in France, the betting market has already been valued at more than $1.267 billion. Below is Control F5's analysis.

How do the Olympic Games influence the sports betting market?

1) Attracting new audiences to online betting sites

It is no secret that the Olympic Games attract the attention of a global and diverse audience, composed of fans of various sports. And, of course, this interest can become a unique opportunity for sports betting sites. 

It is expected that during the Olympic period, the number of people interested in placing bets will increase considerably. Among the most popular sports to bet on are Soccer, Basketball, Volleyball, and Athletics.

This movement in the bettor base could diversify sports betting opportunities and increase traffic on specialized sites during the Olympics.

2) Increase in the volume of bets and deposits on betting sites.

Another movement we can expect with the Paris 2024 Olympic Games is the exponential growth of sports betting volume.

This is because the variety of events and the frequency of competitions create a favorable environment to attract new bettors. Each day of the Olympic Games offers multiple betting opportunities, from the results of the competitions to the individual performances of the athletes. 

This intensifies the movement on betting sites, which translates into a significant increase in turnover with the growth of deposits made on the platform.

3) Creation of exclusive events, promotions and offers

During mega events such as the Olympic Games, sports betting sites often create exclusive promotions and offers. Among the strategies used to attract new users and/or retain existing ones are free bets/spins and themed promotions.

These promotional actions not only encourage bettors to participate but also increase the average betting ticket, helping to increase the platforms' turnover.

4) Extensive coverage and engagement on social media

Did you know that having extensive and innovative coverage of the Olympics on betting sites can also play a crucial role in increasing revenue during the games? 

Platforms invest in technology to offer live broadcasts, detailed analysis, and real-time statistics. In addition, these companies also keep their social networks full of relevant content for this audience.

This higher level of service enhances the user experience and encourages more informed and frequent betting. In addition, social media allows for user interaction and increased brand exposure in the digital environment.

Control F5 invites interested companies to get in touch via this link to arrange a meeting and learn more about its solutions.