Georg Wawer, CEO of Win2day, has stated that there are twice as many betting customers during the European Championship compared to a typical month. Florian Sauer, CEO of Entain (Bwin), believes that the European Championship is even more popular for betting than the World Cup. Georg Weber, CEO of Tipp3, refers to the European Championship as a “13th month” that brings economic benefits to betting providers. He anticipates a sales increase of up to ten percent over the year.
Austria’s participation in this year’s European Championship is advantageous for betting providers since most customers tend to bet on games involving their own national team. Additionally, the favorites in the tournament, such as Germany, France, England, Spain, and Portugal, are also popular betting choices. According to Irsigler, most bets are placed on the favorites in individual games.
While surprises in the tournament are good for the betting industry, unexpected outcomes can sometimes lead to losses for providers. For example, if Austria were to win unexpectedly in the tournament, it would result in high payouts due to odds fluctuations. Despite financial implications, Weber expresses his happiness at the prospect of an Austrian victory and believes in a positive long-term outlook.
Experts suggest that Austria reaching the final of the European Championship would be beneficial for the betting business as it would generate substantial interest and excitement. Football is Europe’s most popular sport for betting followed by tennis. The total amount wagered on sports events in Austria annually exceeds two billion euros with providers retaining around 378 million euros of that amount.
There are concerns about addiction related to sports betting with some individuals facing significant financial losses due to gambling habits. While Austria categorizes sports betting as a game of skill rather than chance, there are legal protection mechanisms in place to prevent excessive gambling
