Eurovision Betting: Key Considerations For Bettors

All eyes on Liverpool! This year, Liverpool will be hosting the 2023 Eurovision Song Contest, after Ukraine passed on the right to be the host due to the problems that it is currently facing with the war. 

The Eurovision Song Contest is probably the most popular international song competition, with millions of fans across the world. Every year, Eurovision literally stirs up not only fans, who follow the competition consistently since its foundation, but also viewers who want to watch a unique broadcasted spectacle as well as bettors who want to engage as much as possible with the contest while at the same time pursue profits by betting on the various markets offered by betting sites found in AllbetsTV.

Eurovision is a competition taking place in the broader context of European countries. While it started off as a purely European thing, it has opened up its doors to welcome some other participating nations, which have been granted the right to compete even though they are outside the European borders. That said, Eurovision has come to be more of a global thing and less of a competition confined into the European continent. 

From a betting perspective, the Eurovision Song Contest is also one of the most popular international events.

It gets to be as hype as a football match between top rivals! Punters from all over show great interest in a competition that has everything: diplomatic relations, voting, live broadcast, spectators and a number of nations presenting their song and performance propositions live to audiences. And of course, just as in every other competition, Eurovision has favorites and underdogs and as such it becomes an instant attraction for bettors. 

If you are interested in Eurovision betting, we have some very useful information that will prove really handy in making wiser choices. 

Favourites’ win rate in the Eurovision Song Contest is high.

If you take a tour at sportsbooks and betting sites looking for participants’ odds, you will realize that there are some songs that appear to be far more favored to win the competition compared to others. Bookmakers initially set odds based on sensing public opinion, but as we are moving closer to the actual competition, they fine tune and adjust odds based on sophisticated data analysis and research. And of course, in most cases the favorites emerging from bookmakers’ odds, eventually get to win the contest. 

That is, there are so many different sources of information and multiple touch points for data gathering and analysis, that betting sites manage to do a great job in predicting the end winner. And this is reflected in the fact that the win rate of favourites is really high!

Cinderella stories do happen in Eurovision.

Even if sportsbooks manage to predict for the most part the final outcome of the contest, there are several cases where things have not been effectively predicted. This is not necessarily to say that underdogs get to win the competition in the end, but let’s say that countries, not expected to do well, eventually finish at the top five positions. Or even not-so-favourite songs coming at the forefront of preferences of the audiences and rising straight to the top. 

Social media can prove really valuable in gathering as much data as possible in order to make a more informed choice.

Eurovision bettors can rely on social media to obtain a sense of the public’s opinion and preferences when it comes to songs participating in the contest. Given that for its large part, voting comes from audiences in each country, it is important to understand that it reflects public perceptions and public tastes. Bettors can use social media to explore these more thoroughly and gather information that is really valuable in making their betting choices.