More Females are Wagering on Female Athletics
A recent study by the German Sports University Cologne shows that women in Europe are becoming more involved in sports betting, with a focus on women's athletic competitions. This research, conducted by Entain, Flutter Entertainment, Stats Perform, and the International Betting Integrity Association (IBIA), and the All-In Diversity Project (AIDP), is the first to investigate the characteristics of the women's sports betting market and the possible susceptibility of women's sports to match-fixing.
Entain and Flutter Entertainment, both prominent gambling companies, own significant shares in BetMGM and FanDuel, respectively, the largest online sportsbook operators in the United States.
The research confirms that the rise in women's sports has been mirrored by a similar growth in the betting on women's sports. Soccer is leading the charge, with women's soccer betting showing an annual market growth rate of roughly 20% since 2020, the study notes. This is then followed by tennis, basketball, and cricket, with increase rates above 10% since 2017-2022.
Contrasting this is the US betting market, where some studies suggest that sportsbook operators have had difficulty attracting female bettors.
Female Betting in the Short Term
Interestingly, the study was published just before the start of the 2023 FIFA Women's World Cup, which is taking place in Australia and New Zealand. This major tournament could potentially drive a spike in women's sports betting since it is expected to attract record viewers and attendees.
The U.S. Women's National Team is the favorite to win the tournament at +225 – meaning you'd win $225 if you bet $100.
Commenting on the importance of the biennial event, Khalid Ali, CEO of IBIA, stated, "We are about to experience the best-attended and most-watched Women's World Cup ever. Soccer is paving the way for other women's sports, which are growing rapidly." The increased popularity of women's sports is seen as a win for fans, athletes, and the gaming industry.
The impact of the Women's World Cup on US sportsbooks isn't certain. While the USWNT has a strong following and is popular with U.S. fans and bettors, it's worth noting that World Cups don't occur annually.
Furthermore, with Serena Williams and other notable women tennis players retiring or nearing the end of their careers, betting on that sport could see a temporary lull. With this in mind, college basketball and the WNBA are likely the most promising options for US sportsbooks hoping to entice more female bettors.
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