Real-time bets have been available on some sporting events in the United States for years. Bookmakers offer real-time odds and give bettors an opportunity to be better informed and to make wiser decisions.
But now, British bookmaker, Betfred, has set its sights on a new mobile betting service timed to coincide with the 2014 World Cup later this summer in Brazil.
Betfred touts its new app as the hard work of engineers for 18 months. Features of the app include improved navigation, live events and betting highlights to enhance the operation for the user.
While sports bettors will be able to place real-time wagers on matches in this year’s pre-eminent football tournament, Betfred has more ambitious plans. Eventually, bettors will be able to wager on horse racing, specifically for the Spring Racing Carnival in October and November if all goes well.
The full-service web offering should be available as a soft-opening in Australia by mid-June, Betfred’s managing director Luke Brill has said. Brill said it is possible this site will be launches earlier, which will let the company gather feedback from clients.
Because of Australia’s well-regulated gambling industry and because many Aussies have taken a liking to betting on European sports, Brill is confident that the mobile betting option will gain approval. Australians have shown a passion and a taste for online poker, and Betfred hopes to capitalize on satiating Aussies’ online hunger with sports.
Betfred has room to grow and the sky is the limit. With offices in Sydney and Darwin, staffers from the UK will be joining the 15 or so currently in Australia to iron out any issues that might arise.
While gamblers are awaiting anxiously the opportunity for real-time betting, some remain skeptical of Betfred’s sustainability.
One local bookmaker says the market is not big enough to support another player in the Australian gambling market.
Betstar bookmaker and founder Alan Eskander predicts the industry will vie for the next few years for the same dollars, resulting in mergers and the disappearance of various bookmakers.
The highest bookmakers at risk will be the small to midsize ones, similar to Betfred. These bookmakers will be endangered because of a proliferation of regulations and the changing gambling market.
In the meantime, Betfred has bet real-time wagering will be the ticket to growth and profits.