Bookmakers experience profitable Grand National2016-05-05 11:28:53
We reported on the profit bookmakers made during Cheltenham. Few weeks after, another highlight was in store for bookmakers, such as Paddy Power and Ladbrokes, whose brands ensnare horse racing events. The Grand National is held annually in Aintree and provides sports betting companies with an opportunity to attract new, and retain longstanding customers.
“It is estimated that a quarter of the UK adult population will bet on the Crabbie’s sponsored Grand National in 2016. Most people will have a small each-way bet on a horse they fancy for no other reason then they like the name,” reads one excerpt, publishes as part of a Betfair ad.
With The Grand National races over, analysts have started to speculate on how high bookmaker profits were this year.
Bookmakers in the UK are estimated to have made over £75m (close to €94m) in profits. According to data released by bettingexpert.com, over 35 million bets were expected for the Grand National alone.
The average profit per person stands at £2.84. That figure merely considers major bookmakers. An interesting trend can be observed upon considering the average bets per user throughout the three days. Day one begun with a solid 7.5 bets per user, day two continued with an increase, up to 10.3, and day three saw 7.9 bets placed per user.
While these statistics will prove useful for analytics-centred betting companies, these figures may also influence future race planning at Aintree, to ensure a more even program, attracting fans over the three days. A simple explanation though may be that day two was a Saturday.
Either way, Aintree was the well-needed good news for bookmakers, after a disastrous Cheltenham 2016.