Punters bet big on the high street for Cheltenham Festival
Online gambling set for significant pick up as in-play betting grows in popularity
LONDON | MARCH 11, 2019: Data analysis by Worldpay, Inc. suggests that online gambling is set for a big win this Cheltenham Festival as digitally savvy punters gear up to bet live during one of the UK’s biggest annual horse racing events.
Worldpay data predicts that online bookies will rake in the punters over the Cheltenham Festival period, as this time last year online operators saw a 49 percent increase in bets placed during the Festival compared to the previous week.1
The increased ease of live betting via mobile devices is continuing to attract punters to place bets online. Worldpay data from last year’s event showed a spike in bets placed between 1:30 PM and 3:30 PM during the final four days of the Festival, in line with the event’s key races. The Gold Cup attracted the highest number of bets placed, with a 22 percent peak in activity in the 30 minutes prior to the marquee race.2
Despite the rise in online betting, it’s unlikely that in-store bookies will feel the pinch. Worldpay data from 2018 found that the bigger bets are still being made in-store, with gamblers wagering an average of £91 at high street bookies compared to £40 online.3
Steffan Jones, Vice President for Gaming at Worldpay said: “Horse racing is one of the most popular betting activities in the UK, and with over nine million people betting online in 2017, this figure is only set to rise.4 For digitally savvy punters mobile devices enable them to place bets anytime, anywhere; so it’s important for operators to optimise every part of the journey to make it as enjoyable as possible. It’s not just about ensuring that adding funds is frictionless, in this age of online expediency fast payouts are equally important. Trustworthy operators who offer this seamless end-to-end experience will see the biggest gains.”
“The best user-experience is imperative for online betting, especially during times of increased traffic. In the same way physical stores tend to hire more staff to support during busier times, online operators will need to make sure their platforms are well equipped to support spikes in traffic during the key races, and do so without compromising payment experience and security.”
About the data
Figures quoted are according to Worldpay’s Global Enterprise eCommerce and in-store transaction data for betting operators from United Kingdom and Ireland from February 24 to March 16, 2018.
Worldpay, Inc. (NYSE: WP; LSE: WPY) is a leading payments technology company with unique capability to power global Omni-commerce. With an integrated technology platform, Worldpay offers a comprehensive suite of products and services, delivered globally through a single provider. Worldpay processes over 40 billion transactions annually, supporting more than 300 payment types across 146 countries and 126 currencies. The company is focused on expanding into high-growth markets and customer segments, including global eCommerce, integrated payments and B2B.
1 Analysis of Worldpay’s Global Enterprise eCommerce transaction data for betting operators from February 24 to March 16, 2018
2 Analysis of Worldpay’s Global Enterprise eCommerce transaction data for betting operators from February 24 to March 16, 2018
3 Analysis of Worldpay’s Global Enterprise eCommerce and in-store transaction data for betting operators from February 24 to March 16, 2018