World Cup Betting Fever Begins Online

Published Tuesday, June 01, 2010 -

The World Cup of Soccer is really exciting for many fans around the world and none are more patriotic about their home team than the British. Bookmakers everywhere are doing their level best to make the odds attractive but as some bookies have announced already they do have concerns about the so called worst case scenario if England beats Spain in the World Cup Final. Ireland’s biggest bookmaker Paddy Power is publicly stating if the English Team wins against the favourite Spain then “We’re all basically stuffed,” said a spokesperson for the company.

Patriotic English fans skew the wagering odds which means the World Cup is a risky proposition for bookmakers in the U.K.. When favourites win most of the games it can lead to slim profit margins for the bookies.

Latitude Digital Marketing a web-gambling marketing and research company based in London has estimated that about fifty percent of all World Cup bets will be done through an online outlet. Gambling companies such as Ladbrokes Paddy Power and William Hill all use various methods to work out odds, each hoping to make a prediction based on science and research. Ladbrokes for example employs an Imperial College of London computer sciences expert to mathematically determine the probabilities from the number of yellow cards to corner kicks for the unconventional wager enthusiasts.

A senior lecturer in statistics at the University of Salford, Ian McHale, says that England is the worst value in a World Cup bet because bookmakers have to covered themselves well just in case they loose. France is the best value because has just as big a chance of winning and yet is undersold by odds compilers with Ladbrokes offering odds of 20 to 1 should the French win the World Cup.

It is estimated that more than $1.5 billion dollars is going to be wagered on the World Cup of Soccer Tournament this year.

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