Considering placing wagers on Toto at Oddset soon?
Toto betting is near its end. German sports betting statistics clearly show an irreversible increase in turnover. The industry is flourishing, but some losers are already giving up. The Spanish State Betting Provider Oddset is battling massive losses. Some regional lotteries have even stopped operating this service. Online competition is dominating the internet.
Market share falls to 2.6%
A study by Goldmedia indicates that German sports betting turnover reached €8.8 billion in 2018. In the previous year, it was €7.5 billion, reflecting a 17% increase. Despite this overall growth, Oddset's market share is declining. With a market share of just 2.6%, Oddset struggles to maintain a foothold in the market.
The Oddset is managed by the state's lottery and pool companies, offering betting tips in their physical locations, alongside lottery tickets. Nonetheless, their growing deficit is causing concern. Already, some states like Lotto Brandenburg have eliminated Toto betting from their offerings.
Limited betting options are key
While the physical locations might present some inconvenience compared to online sports betting platforms, the majority of respondents in surveys believe this is not the main reason for Oddset's failure. The number of betting options is primarily considered a significant drawback. Both the variety and depth of betting markets are limited.
Online betting services can offer up to 50 sports, with numerous betting opportunities for each event, mainly focusing on major soccer leagues. These options include predictions on goals scored within the first 15 minutes, the scorer, yellow and red cards, etc.
Soccer leads the betting scene
Toto betting originated near horse-racing tracks. Despite this history, horse betting only amounts to about €154 million of the total €8.8 billion in 2018.
It’s worth noting that the majority of sports bets in Germany involve soccer. However, it's surprising that large sums are often not involved. Approximately 90% of sports bettors prefer to place €5 wagers. Punters with stakes over €100 are few and far between.
Also, 2018 statistics show that around 30% of sports bets originated from phones or tablets.
Twitter predictions beat the bookies
Many betting platforms include live betting opportunities. This increases excitement by allowing real-time wagers. Odds, based on live trends, can be observed through various offerings. Research from the University of East Anglia has interesting insights. They compared betting odds from Betfair with over 13.2 million tweets from fans in stadiums. The tweets proved to be more accurate than the updated betting odds.
Men dominate the betting world
The famous Institute for Journalism Studies at the University of Mainz conducted a study on sports betting. Their findings revealed that roughly 60% of bets were made by men. Their test, which involved recreational gambling, hinted that males tend to compete. In the actual sports betting scene, gender disparity might be even more pronounced.
Michael Sülflow mentioned, "Men, in particular, partake in betting games to compete with others."
Government's misguided strategy
The bureaucratic tangle of German sports betting regulations has been controversial. In recent years, the federal government has tried to support Oddset against EU requirements for liberalization. So far, there are no nationwide licenses for sports betting providers, preventing free competition. Private bookmakers have been intentionally sidelined. These numbers reveal the ridiculousness of their approach.
Potential changes in 2020
In 2012, online sports betting providers were accepted in Germany if they paid the 5% betting tax. Schleswig-Holstein, who initiated this tax, was later absorbed by the higher-level federal tax. Germany had planned to issue nationwide licenses in 2016 under Hesse's leadership. However, the process resulted in a failed stalemate. Courts later overturned the arbitrary issuing of licenses, possibly suggesting a premeditated failure.
In the year 2018, the interior ministers of the federal states gathered in Warnemünde and came to a consensus that the gambling treaty needed to be revised. However, since then, not much has progressed beyond establishing an expert commission. As Hesse and Schleswig-Holstein have declared their intention to leave the current state gambling agreement in 2020 if there are no substantial improvements, we might see some positive changes in the near future.
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Source: www.onlinecasinosdeutschland.com
