Yesterday’s unexpected victory of London over rival Paris in the Olympic stakes may mean big wins for more than British athletes. Some punters may have beaten the odds short-term but the longer view is that Britons will bet heavily on the Olympic events, now that the Games are to be staged here, and that bookmakers will be the winners. Operators online and off are looking at a future bonanza.

Of course the London Olympic Games is seven years away, but the betting business is already a boom industry. Whether walking into a bookmaker’s shop on the high street or sitting at home in front of the computer, wagering on the outcome of a game is increasingly popular. The PartyGaming stock-market listing has shown that not only is gambling big business but also that even online companies are becoming respectable.

Ukbetting is just one company to recently announce rising revenues. The firm supplies Internet betting games and content and has disclosed that its sales in gaming have shown a first-half gain of 37%. In this week’s trading statement William Hill reports that it is enjoying improved sporting results whilst continuing to exercise tight control over costs. Following the purchase of 624 Stanley Leisure betting shops, the bookmaker should see its profits increase.

London Olympics 2012 is good news for deprived areas in East London, for football stadiums in several places around the country, for the tourist trade in and around Weymouth which will host sailing events, and above all for the operators of betting chains and online gambling. (E-07.07.05)

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