What Cheltenham means for bookmakers2016-03-14 09:49:33
The recent merger of Paddy Power and Betfair took place just weeks before one of the most profitable events in sports betting begins. Today, the Cheltenham Festival kicks off, and with it, many of the big brands will try to sideline each other, to get maximum brand exposure, and subsequently generate more revenue.
For that reason, the two brands will hold off until after the event, and possibly the April’s Grand National, and Football Euro’s, before overhauling their sportsbook. Analysts have confirmed that the lack of ‘new plans’ for Paddy Power Betfair was to be excepted, as the Cheltenham Festival is at times so busy, that the primary goal is for the company is to ensure that increased traffic does not lead to the sites crashing.
This is a concern for all online sportsbooks, including BetVictor. The company has, however, secured a three-year fixed deal to affix its name to the Gold Cup in November and should see an increase in online traffic as a result of this major Cheltenham brand booster deal. Gibraltar-based BetVictor managed to side-line Paddy Power, who had sponsored the cup since 2003.