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

Written by:
Aaron Goldstein
Published on:
Jun/29/2012
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, Gambling911.com

Gambling News

PokerStars Hopes to Mend Fences With Poker Community

PokerStars Hopes to Mend Fences With Poker Community

PokerStars, after being purchased by Amaya Gaming in 2014, has turned its back on its professional player customer base in hopes of building more recreational patronage. 

Lawmaker Pleads Guilty in Case Linked to Illegal Gambling

Lawmaker Pleads Guilty in Case Linked to Illegal Gambling

A lawmaker accused of using his political influence to benefit an illegal gambling ring pleaded guilty Tuesday to two misdemeanor charges.

Atlantic City Gambling Revenue Down in July

Casino revenue in Atlantic City was down last month 2.7 percent over last year, yet the seven remaining casinos saw a slight increase.

Casino Bosses Sue High Stakes International Gambler

Bosses at London's Les Ambassadeurs Club told a High Court that an international high stakes gambler’s checks had bounced to the tune of £470,000.

Disney Throws Down Another $500K to Stop Gambling Expansion

Disney Throws Down Another $500K to Stop Gambling Expansion

Disney is doubling down on its push to prevent gambling expansion in the Sunshine State.

Syndicate