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Euro 2024 Betting Patterns: Revealed

Discover strategies and insights from the 2022 FIFA World Cup to elevate operators’ marketing game for the upcoming Euro 2024

See the difference control groups make in this guide

Why It Matters  

Major sporting events, like the 2024 UEFA European Football Championship, allow sportsbook operators to gain new players and reactivate dormant ones. Optimove data from betting trends during these peak events can act as a blueprint to elevate operators’ Euro 2024 marketing strategy.   

The Big Picture 

  • The 2022 World Cup witnessed a surge in betting activity, with a higher number of players engaged, yet the average bet amount decreased, indicating a shift towards more casual betting behavior. 
  • The tournament also saw a spike in first-time depositors presenting both an opportunity and a challenge for operators to retain these newcomers beyond the event period. 
  • Players who made their first deposit during the tournament exhibited lower retention rates compared to those who started wagering at other times of the year 

1. More bettors at peak events, lower average bet amount 

Optimove data from the 2022 World Cup shows that a significantly greater number of players were engaged in betting activities during the 2022 World Cup than in non-tournament months. 

The influx of First-Time Depositors, or new players, peaked in November 2022 with a 50% surge at the height of the tournament, as shown in the chart below.  

The growth in the total number of sports bettors trickled down to a 38% increase in December, as illustrated above. Remaining well above the baseline emphasizes the crucial link between the conclusion of a major event and the anticipation for the next significant one—in this instance, the resumption of the football (US soccer) regular season. Using this knowledge as a retention strategy can go a long way for operators

Pro-tip: For Euro 2024, a major event operators can promote is the Paris Olympic Games, kicking off a mere twelve days after Euro 2024 concludes.   

2. Higher total deposits 

Total deposit amount spiked during the 2022 World Cup, up 22% and 24% in November and December 2022, respectively compared to the average offseason month. Yet the average deposit amount declined (see chart). This decrease could be attributed to the influx of new, casual players, who, as a demographic, typically engage in lower wagers compared to regular football bettors, as shown in the chart below.

How to treat every campaign like a marketing experiment

3. Newbies come; newbies go 

The percentage of new depositors increased more than two-fold compared to the average off-season month, with an increase of 113% in November 2022 – as shown below.  

Yet players who made their first deposit during the tournament had a lower average retention rate than new players who start wagering at other times of the year. The drop-off begins as early as one month after the first deposit. 

Turn these patterns into a retention game plan using these four tips: 

  1. Capture more football enthusiasts: European football is the go-to sport for betting, with nearly every bettor placing at least one bet annually. For iGaming operators to optimize effective marketing communications, marketers must ensure they present the right incentives via preferred channels at opportune moments to kickstart their engagement. 
  1. Retain their interest: Newcomers attracted during peak events are prone to churn quickly. Keep them engaged by highlighting the excitement of the upcoming major sporting events. 
  1. Elevate new players’ participation: Tournament-year novices often exhibit lower wagering tendencies than their off-season counterparts. Keep them active with personalized offers and bet recommendations. Plus, educate them about betting options to help prevent premature disengagement. 
  1. Diversify offerings: While football holds precedence, tournament bettors often explore multiple sports. As other smaller tournaments and sporting events approach, marketing efforts should provide clues to players’ different interests and deliver pinpoint messages to engage them.  

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In Summary  

World Cup 2022 is a blueprint to map operators’ Euro 2024 marketing strategies and tactics. Operators should use these insightful betting patterns and turn them into a strategic retention marketing plan. 

For more insights, request a demo.   

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Guy Leshno

Guy Leshno, a seasoned PR and Communications professional, with a successful track record in leading PR strategies and projects in emerging startups. With over a decade of experience, his expertise lies in blending creative ideation, analytics, and expert writing capabilities, driving brand awareness, and improving sales.