City Bet Club has recently predicted a less-than-ideal upcoming Q4 2022 earnings report for operators in the United Kingdom.
The tipster service predicts that a combination of three main factors will be the reasons for subpar Q4 reports. Those three key factors are stricter affordability checks, a decline in turnover from the recent World Cup, and the significant changes made to the sports calendar to carry out the event in Qatar.
City Bet Club highlights that despite the 2022 World Cup presenting excellent results for operators on the surface, many early losses experienced by British players may have affected the results in the end.
Furthermore, the firm predicts that many major gambling companies no longer see an opportunity to expand in the gambling and wagering market of the United Kingdom. City Bet Club uses examples such as Bet365’s over 85% declined profit and Kindred’s low sports margins in the country as evidence of turbulence in the market.
Another big reason for this, as highlighted by the company, is the UK’s affordability checks. Many call them intrusive for several reasons. Some sports, such as horse racing, have already experienced quite a bit of decline in wagering revenue, which City Bet Club views as troublesome for both gambling firms and sports organizations.
Having been in the industry for over four decades, this period represents the bleakest outlook on the country’s wagering market in a long time. Despite the World Cup looking like a success on the surface, the wagering margins are reportedly significantly lower in comparison to previous runnings of the championship.
commented the co-founder of City Bet Club, David Brown.
Another factor adding to the subpar performance is the uncertainty surrounding the upcoming white paper, which has experienced major delays after delays over the past year.