Oddschecker data shows drop in average betting deposits during cost-of-living crisis

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According to full-year 2022 data from Oddschecker, online sports betting has been affected by the cost-of-living crisis.

The UK-based affiliate, known for its odds comparison grid, has observed a decline in the average value per customer deposit across various sportsbooks including bet365, Sky Bet, William Hill, and Paddy Power.

Oddschecker attributes this trend to stricter affordability measures implemented by UK-licensed operators and increased pressure on discretionary spending due to the ongoing cost-of-living crisis.

The decline in average deposits began in August 2022 and reached its lowest point in December, when the average deposit was under £80.

Oddschecker: “We believe this metric serves as the canary in the coal mine for the cost-of-living crisis, despite the gambling industry traditionally harbouring a widespread perception of being relatively recession-proof.”

This marked the lowest average deposit figure recorded by Oddschecker since it began collecting data in January 2019.

“We believe this metric serves as the canary in the coal mine for the cost-of-living crisis, despite the gambling industry traditionally harbouring a widespread perception of being relatively recession-proof,” said Oddschecker.

Despite the decline in average deposits, the total sum of money being deposited has remained strong throughout the year, boosted by major sporting events such as the World Cup.

Oddschecker noted that average deposit value may rebound as the macroeconomic climate improves, although a shift towards higher margin products among operators, such as Bet Builders, could lead to the downwards trend continuing into 2023 if punters instead adopt a “little and often” approach to sports betting.

As of the end of the year, Oddschecker’s comparison grid included 27 different sports betting operators. Bet365 remained the dominant player, achieving the highest number of on-site bet slip clicks for every month of 2022.

About the author

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Jake Evans

Jake Evans is an NCTJ-accredited journalist and editor who has covered the online gaming and sports betting industry since 2017. He is the managing editor of iGaming NEXT and has previously worked in both content and data for EGR, Stats Perform and Football Radar.

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