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If history is a guide, the World Cup is estimated to change the wagering profile. The universal gambling industry is expecting to make history, in its busiest five weeks ever, as fans run to place bets on the 64 games between 32 nations, competing for the once every four years, FIFA World Cup.
Graham Sharpe, a spokesman for Britain-based bookmaker William Hill, told MarketWatch.com, "This is going to be a massive betting year for us. Turnover increases exponentially every four years. We are very optimistic that there will be 1 billion or more pounds bet with British bookmakers alone."
In America, Nevada is the only region where soccer fans can legally gamble on the World Cup soccer teams.
The trend online is to offer ‘Free Bets’, such as ‘register and get up to a $300 Free Bet that can be used for any of the World Cup markets, or any sport you want’. There are numerous special offers, aiming to snatch the betting dollar, as sports book operators are uncertain what to expect.
Another promoter offers a money back guarantee on every game, a tipping competition, as well as multibet promos. Others offer a free World Cup jersey, plus a $100 Free Bet when you register and deposit a minimum of $150. While still others offer generous monthly, reload and pick-the-score super bonuses.
The list is never ending. The high rollers however, go a different route altogether. They use insurance companies.
When the beleaguered, scandal ridden Les Blues were eliminated from the World Cup, Warren Buffet was an unexpected beneficiary of France’s 2-0 loss to Uruguay.
Bloomberg reported that bookmakers had put France’s odds of winning a championship at 12-1. Bloomberg also said that the Oracle of Omaha wrote an insurance policy to an unnamed individual that would have paid out in a very huge way if France won the World Cup. In March, Buffett had told CNBC that if France won he was going to lose something in the region of "30 million bucks".
Whether or not this is an ultimate form of high-finance gambling on Buffett's part, the $30 million payout dwarfs the individual insurance policies taken out on World Cup players, the Insurance Journal reports. Lloyd's estimated the total market for World Cup insurance this year to be worth nearly $9 billion. A high-priced World Cup player could have their bodies insured for upwards of $70 million.
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