Scientific Games sees record betting volume during Cheltenham Festival

New York-listed Scientific Games enjoyed a record performance at the Cheltenham Festival last week as total betting volumes through its OpenSports platform rose 53 per cent versus a year ago.

The four-day racing event took place behind closed doors due to COVID-19 restrictions but saw record-breaking volumes of bets processed through the company’s OpenSports platform, driven by a higher number of players online as betting shops remained shut across the UK and Europe.

Compared to last year’s event, total bets through the SG platform rose by 53 per cent to nearly 70m across leading UK sportsbook operators such as Flutter’s Betfair, Paddy Power and Sky Bet brands, William Hill, and Entain’s Ladbrokes and Coral brands.

Total stakes across the festival were up 34 per cent year-on-year, with the average stake for singles in all Win & Each Way markets remaining largely consistent with last year at £7.50.

Total account transactions of 470m across the four days marked an increase of 44 per cent compared to last year, with one OpenSports partner operator alone processing a peak of over 34,000 bets per minute.

“These figures further demonstrate the power of our platform, with its scalability and reliability once again delivering high-level performance across one of the biggest sporting events,” said Keith O’Loughlin, senior vice president of sportsbook for SG Digital. “Despite the significant increase in activity, it was very much business as usual as our team and technology coped under the huge demand from bettors. Our job is to give our operator partners the confidence that they can deliver a great service and grow their business without the worry of system downtime.

“This year’s Festival saw betting behaviour evolve and more players than ever before embrace the online space. The average stake levels indicate the recreational and entertainment value of this racing event and we’re proud of the role OpenSports has played during the Festival in offering such a wide audience a truly entertaining experience.”

Shares in Scientific Games Corporation (NSQ:SGMS) closed up 3.32 per cent at $44.21 per share in New York Friday.