Betting volume is also boosted by matches played at prime time for Europe during cold months when fewer people are on vacation compared to previous tournaments held during the northern hemisphere summer, analysts at the bank, including James Rowland Clark, said in a note.
This gives an extra boost to the betting sector, which has also benefited from the growth seen during the lockdowns, they said.
So far, the results of games in Qatar have been "marginally favorable to the operator", the bank said, noting that as of midday on Friday (25) there had been five games drawn, an outcome that usually benefits odds compilers as most bettors tend to bet on one team to win. Four other matches have ended in draws since then.
This year's tournament is the first global sporting event since restrictions on sports betting in the US were lifted, according to Bloomberg Intelligence (BI).
BI predicts US$1.7 billion in U.S. bets, though that's just a fraction of the US$7.6 billion wagered on the Super Bowl and US$3.1 billion on the March Madness of college basketball, wrote analyst Brian Egger.
According to Barclays, which cited data from betting intelligence firm H2 Gambling Capital, customers of licensed bookmakers will bet around US$400 million on each group stage match of this World Cup, around US$1. billion per knockout game and up to US$2.5 billion in the final.
However, analysts warned that the cost of living crisis and the arrival of Christmas could put pressure on customers' betting portfolios.
Source: Bloomberg
