Euro 2024 Betting Patterns: Revealed

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.

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.
2. 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.
3. 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.
4. 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.  

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. 

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