Euro 2012 Huge for Bookmakers: Helps Boost Betfair Profit by 50 Per Cent

Written by:
Aaron Goldstein
Published on:
Euro 2012 Huge for Bookmakers:  Helps Boost Betfair Profit by 50 Per Cent

Betfair, the world’s largest sports betting exchange, reported a more than 50 per cent jump in pre-tax profit for the 12 months to April 30, mostly a result of heavy beting on the Euro 2012 in recent weeks. 

“The European championships have been our biggest sports betting event. More bets have been laid on the Euros with us than for the last World Cup,” Stephen Morana, Betfair’s interim chief executive.

Ladbrokes, which saw its shares drop more than 12 percent yesterday on news of poor online results, suggested the Euro 2012 had hurt business due to four big favorites advancing. 

Betfair appears to be faring better with only a 1 per cent year on year drop off to £389.7m following the cancellation of a high rollers telephone betting programme.

- Aaron Goldstein,

Gambling News

Nevada Gambling Revenue Down 2 Percent in April

LAS VEGAS (Associated Press) — Nevada gambling revenue was down more than 2 percent in April compared with last year, in part due to a quirk in how the state counts slot revenue.

Evolution of Sports Gambling in the 21st Century

There is sufficient evidence that humans have been gambling since the dawn of time to make the assumption that gambling is in fact instinctual.

And the Top Sportsbook of the Year is the One You Love

There are a lot of reviews out there about which sportsbook is the best, and while I believe reviews have a place and can be extremely valuable it is hard to find an honest no hidden agenda assessment these days.

NBA Commish Adam Silver Gets It When It Comes To Betting

Adam Silver gets it, and he's going to keep repeating it until people finally listen.  Forget the conspiracy theories about No. 1 picks and why Draymond Green gets to play after a couple well placed kicks.

Online Gambling Website Operators Arrested: Ties to the Mob

Six men were arrested and charged with running the online gambling website Thursday.