Unlocking the Betting Bonanza: Why the 2023 Women’s World Cup is a Game-Changer for Operators
Women’s World Cup 2023: A Pivotal Moment for Women’s Football and Betting Opportunities
This summer, the FIFA Women’s World Cup hosted in Australia and New Zealand is anticipated to be a landmark event for women’s football, marking a significant point in the sport’s evolution. However, despite the excitement surrounding the tournament, industry expert Christina Thakor-Rankin has expressed concerns that betting operators may not fully capitalize on the unique opportunities that the event presents.
A New Frontier for Betting Operators
Thakor-Rankin, co-founder of the All-In Diversity Project and principal consultant at 1710 Gaming, points out that the Women’s World Cup offers bookies a chance to expand their reach far beyond the traditional male audience that usually dominates sports betting markets. By mimicking the extensive range of betting markets available during the men’s World Cup—covering groups, player performances, and more—operators could attract a larger customer base, including a growing number of female bettors.
“The statistics are certainly there to back this up,” says Thakor-Rankin, noting that recent data highlights women’s football as the fastest-growing sport globally.
Record-Breaking Viewership and Attendance
The previous Women’s World Cup in 2019 attracted over 1.1 billion viewers, demonstrating the increasing popularity of women’s football. Additionally, the Women’s Euros final in 2022 broke records by drawing an audience of 87,192, surpassing the prior attendance record for any Euros final, a title held by men’s matches. These milestones are pivotal, signaling a shift in public perception and engagement with women’s sports.
The excitement culminated in the recent Women’s FA Cup final, where Australian captain Sam Kerr scored the winning goal in a match at Wembley Stadium, showcasing the skill and prowess of female athletes. This event was heralded as the ideal prelude to the World Cup festivities this summer.
Beyond Just the Game
Women’s football is emerging as a beacon for broader social issues, including gender equality and female empowerment. The sport transcends traditional athleticism, touching on significant societal changes, evidenced by campaigns advocating for equal pay and advancements in representation. Notably, some teams, such as China, are repurposing their focus from men’s football to women’s teams, which is indicative of their management’s strategic shift and growing investment in female sports. The Moroccan team’s historic qualification is further testament to the expanding global reach of the women’s game.
Expanding Wagering Opportunities
The growth of regulated sports betting worldwide stands to make the Women’s World Cup not only a substantial sporting event but also a significant betting occasion. The men’s World Cup is known as the largest betting event globally, which presents a ripe opportunity for operators to attract those already engaged with the men’s tournaments.
Prominent teams from countries with vested interests in sports betting, such as the United States and England, will actively compete, further amplifying interest. Reports suggest a significant increase in female sports bettors, which could bode well for the Women’s World Cup. In regions like the US and Europe, as many as 30% to 50% of sports bettors identify as female, a trend similarly observed in countries like Nigeria and throughout Asia.
Moreover, the rise of female footballers as role models, partly fueled by the popularization of video games such as EA Sports’ FIFA 23, has opened new avenues for betting markets focused on player performances, tapping into previously unexplored demographics.
Missed Opportunities for Bookmakers
Despite the potential for growth, Thakor-Rankin notes that many sportsbooks appear unprepared to engage with the Women’s World Cup adequately. A review of odds comparison websites indicates that numerous operators are overlooking the event, with most focusing primarily on the upcoming Men’s World Cup in 2026. While in the US, operators have shown some commitment by offering outright markets, there remains a notable lack of additional betting options.
The shift in industry practices, where many sportsbooks now rely on external odds providers, could hinder their ability to provide comprehensive betting markets for women’s sports. This situation reflects a broader issue within the industry—without diverse perspectives and expertise in women’s sports, market-makers may struggle to create engaging betting environments.
Conclusion: The Need for Change
As the Women’s World Cup approaches, it is increasingly evident that the betting industry is at a crossroads. An opportunity exists for operators to engage a burgeoning audience passionate about women’s football, but only if they recognize and respond to the changing tides. Thakor-Rankin concludes that the answer to effectively capitalizing on this unique moment lies in enhancing their teams with individuals who genuinely understand and appreciate women’s sports, not only as a vital part of the betting landscape but also as a reflection of a society in pursuit of equality and recognition in sports.
The Women’s World Cup 2023 is set to be the biggest event in women’s sporting history, and how the betting industry responds will be closely watched.