European firms are becoming increasingly reliant on the Asian market with companies not catching the continent’s bug more likely to be left behind in the fight for global sports betting success. Jesper Jensen at Samvo told CalvinAyre.com’s Rebecca Liggero that although there are many differences between the two markets there exists a relationship that neither side could do without.
“If European books are pricing up a game they must look at Asia,” Jensen told CalvinAyre.com “You can’t argue against it and European odds making begins in Asia.”
This is increasingly the case as stake sizes are a lot larger in the Asian markets and it’s something that Jensen explains makes the Asian market more efficient.
“We have very competitive odds in Asia whereas in Europe you tend to have higher margins,” he said. “Our stake size is dramatically higher in Asia and it’s also much more efficient than European markets. It’s more efficient due to volume and we don’t restrict winners whereas in Europe you will see bookies do this. Instead we use winners to set the odds and go about setting the market after that.”
The restriction of punters was touched upon above by Jensen and it’s very much the culture amongst European books to close your account if “you’re too good” according to Jensen. Why don’t those same punters that see their account close move onto Asian sites and place bets there then? Knowing all the facts you’d expect European punters to be champing at the bit to use an Asian-facing site. This couldn’t be further from the truth though.
“Asian sites have a very different layput and the way betting types of offered differs,” Jensen said. “To get people to understand Asian handicapping is very difficult.”
Asian handicapping, for those not familiar with it, is the system used by Asian bettors to place wagers on European football, in particular. It involves the underdog being given a handicap and you bet according to that. European bettors aren’t as familiar with this and are more used to the betting types offered by European facing books.
Relationships between bookies and punters in Asia differ even more than those mentioned before though. European books are not as trusting as their Asian counterparts with those in the East having to be more trusting of their clientele when it comes to allowing them credit. Jensen added that it’s very much “a matter of trust” and betting is a lot like making a wager between friends where they trust you to pay up. If you asked a European book to offer this to you they’d probably laugh, then laugh some more before telling you where to get off.
Jensen’s sentiments back up the assertion of many that the global gambling industry’s present and future lies in the Asian market. How big will it get? The sky might not even be the limit on this one.