Olympic Games Provided Banner Online Sports Betting Returns

Published Monday, August 13, 2012 - Online-Casinos.com

The Olympic Games have concluded in London and some stats revealing the financial results reported by tourist operators and gambling service providers are already out. According to Ladbrokes the U.K.’s iconic wagering provider it was a banner period for betting with the firm saying that almost £80m was wagered over the span of the games. This fantastic number was in comparison to only £4m punted during the Olympic Games in Beijing China just four years ago.

Betfair is the world's largest Internet betting exchange and also reported a surge in betting activity during the London Games. Betfair revealed that the most attention was paid to the 100 metre men’s final race which saw almost twenty thousand bets placed by individuals. It looks as if the locations closest to the Olympic Park saw an increase in traffic and purchases but those in London's West End experienced an decline in consumer activity. The Westfield shopping centre experienced a sharp increase in spending and its UK and Europe managing director Michael Gutman, commented to the Sunday Telegraph, "without a doubt" the Olympic Games have surpassed expectations, adding that as many as six million people went through the Stratford location which is two or three times as many as usual each day over the course of the Olympic Games.

David Coffer, Chairman of Leisure and Property Advisers for the Coffer Group which maintains a major stake in Earls Court and Olympia, commented on the economic slump during the Games, "The leisure and retail sectors have been desperately reliant on capitalising on this 2012 Olympic Games. But, have found not only there is no boom but trade is worse then they could have ever feared."

Visa one of the Official Sponsors at the London Olympic Games said, International visitors spent £457m in the UK using the company's debit and credit cards amounting to an increase of 8 percent compared to the same week last year. Restaurants and sightseeing also saw a significant increase in spending.

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