Bookies cheer soccer betfest

[dave nz]

THIS morning, one red-eyed Uruguay fan will know whether he is $25,000 poorer or $1.8 million better off.

By July 11, other punters will have learned whether backing Gennaro Gattuso as football's naughtiest player was the right choice. He's the $4.60 favourite for red cards.

Within the month, Australians will have spent an estimated $250 million to $300 million on the soccer World Cup, in what the wagering industry believes will be the biggest event it has ever seen.



Almost half of local sales are likely to go to TAB Sportsbet.

Over 31 days, soccer should deliver to Sportsbet what the AFL provides in a whole season. Melbourne Cups, tennis opens and footy grand finals pale in comparison to what the world game can do to wallets every four years. And this year's sales are tipped to double the 2006 results.

Tabcorp's managing director of sportsbetting, Craig Nugent, said one of the benefits of the World Cup is its ability to attract a vast range of people.

''I think it's a massive opportunity. Because it is a truly global event, we expect our customer base to range across all demographics, from a 90-year-old Greek grandmother to a 20-year-old German tourist visiting Australia,'' he said.

Sportsbet hopes to retain some of the new customers after the final whistle has blown.

It is offering 40 markets on each of the 64 games, and expects to process 4 million bets.

Mr Nugent is hoping the Socceroos qualify to the next round, potentially setting up a clash between England and Australia in round 16, ''which I believe would be the biggest single sports betting event ever held in this country''.

Patriotism is playing a big role in Australian bets.

Tatts Group's wagering arm, UNiTAB, held about $10 million from the last World Cup and expects it to be closer to $20 million this year.

UNiTAB's chief executive, Barrie Fletton, said: ''How well we go will depend on how well Australia goes. A lot of people bet with their hearts.''

The UNiTAB odds of Australia winning the World Cup have come in from $150 to $91.

The punters are less emotional in England. Betting exchange Betfair has noticed fans have put more money on their team to lose than win.

With 3 million customers, including the ''extremely active'' British fans, Betfair had $30 million being traded before the first match started last night.

Centrebet's media director, Neil Evans, said the World Cup would deliver three times what an ordinary major event would.

''We'd expect to hold in pure turnover around about $30 million, so it's a monstrous event in that regard,'' Mr Evans said.

That compares to $10 million Centrebet holds from the Australian Tennis Open.

A large share of the money is expected to be laid on live betting. This allows punters to bet during a game as events change.

Mr Evans said most Centrebet revenue would come from live betting. ''That's where colossal money can come in. You get people trying to top up, trying to bail out of trouble. You can get people in a tight game that might back both sides to put themselves into a winning position.''