Oddschecker data: Results hot streak continues into January
Gross win margin comes in at 4.5% for the month portending positive financial results later this month
Operators continued to benefit from a good run of sporting results in January, with Oddschecker’s gross win margin coming in at 4.5% for the month compared to the long-term average of 2.8%.
Oddschecker gross win margins are rationally lower than operator margins thanks to the type of customer using Oddschecker.
Barclays analyst Patrick Coffey said the figure, combined with a soft comparative period in 2018, could see “reassuring” trading results when operators report FY18 results over the next month.
“The outbreak of equine flu caused some concern but we view it as relatively immaterial to current trading,” Coffey said.
The flu break cost the UK horseracing industry approximately £10m, according to some estimates.
Coffey also raised some concerns about the continued slowdown in registrations among the Big 7 bookmakers, suggesting it could be reflective of a wider UK slowdown.
Coffey added: “Bookmakers now have an extended period of favourable results; given the niverse relationship between margins and wagering it could be that wagering will remain muted in February and March. Bookmakers may hope that customers have a good run of results over the next few weeks before the Cheltenham festival.
On a more granular level, William Hill took market share in golf in January, rising six spots in the Oddschecker clickshare rankings to sixth, with a 4.53% share.
US-sports focused bookie Redzone also made an impact on the NFL market after joining the grid late last year, with 3.03% of NFL clicks.
