..

Mobile Betting Boosts Sportingbet Profits

Written by:
Guest
Published on:
Nov/24/2010

(The Press Association) - Online bookmaker Sportingbet said it has seen an increase in punters gambling on-the-go amid the growing popularity of smartphones.

The Channel Islands-based company said the number of customers gambling from mobiles had increased ten-fold since it launched a special iPhone application six months ago.

Some 10,000 customers now actively gamble with Sportingbet from their phones, accounting for more than 7% of regular customers in its biggest markets. This growth is expected to continue as smartphones become more common.

The trend helped live betting on sporting fixtures rise 27% in the quarter to 31 October.

Total amounts wagered increased by 11% to £513.9 million, while underlying profits rose 17% to £11.3 million, aided by growth in online gaming in Australia.

The company is benefiting from the increased availability of broadband and growing confidence in the internet for financial transactions.

Earlier this month it said it had pulled out of merger talks with Sweden's Unibet but is still in talks with other parties.

Analysts think it is likely to join forces with a rival. It recently agreed to pay £21.3 million to the Unites States Department of Justice over online gaming, bringing to an end a long running legal issue that had been hanging over it and clearing the way for mergers and acquisitions.

It announced this month it had entered into a joint-venture with Russia's second largest bookmaker, First International Bookmakers Company.

Business/Financial News

Bitcoin Hits One-Week Low as Rising U.S. Yields Dent Rally

Bitcoin Hits One-Week Low as Rising U.S. Yields Dent Rally

Cryptocurrencies plunged on Monday, with bitcoin dropping more than 12% to a one-week low

Bitcoin Hits $38,000 for First Time, Pushing Cryptocurrency Market Value Past $1 Trillion

Bitcoin Hits $40,000 for First Time, Pushing Cryptocurrency Market Value Past $1 Trillion

Bitcoin smashed through $38,000 to hit a new record high on Thursday as the cryptocurrency’s massive rally continues, then the $39,000 mark just prior to 11 am ET, and by afternoon the price peaked at $40376.

PayPal Backs Crypto Tax Startup Taxbit

PayPal Backs Crypto Tax Startup Taxbit

PayPal Holdings Inc’s venture arm has made an investment in Salt Lake City, Utah-based tech startup Taxbit, which helps consumers and businesses calculate the taxes owed on cryptocurrency holdings, the companies said on Thursday.

Bitcoin Crosses $30K Mark First Time Ever

Bitcoin Crosses $30K Mark First Time Ever

Digital currency Bitcoin extended its record smashing rally on Saturday, beginning the year with a surge over $30,000 for the first time, with ever more traders and investors betting that it is on its way to becoming a mainstream payment method.

Bitcoin Climbs Over $29K

Bitcoin Climbs Over $29K

Bitcoin, the digital currency preferred by online gambling sites in restrictive markets, has shot to 29,230.10 Wednesday evening.

Syndicate