..

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

Cryptocurrency to be Spotlighted on Dr. Phil Tuesday: Scam or Not?

Cryptocurrency to be Spotlighted on Dr. Phil Tuesday: Scam or Not?

Dr. Phil tackles the controversial topic of cryptocurrency: digital currencies that are being hailed as the future of finance by some and a scam by others. This show airs on Tuesday in most markets.

Bitcoin Skids to Six-Month Low as Fears of Ukraine Conflict Shake Markets

Bitcoin Skids to Six-Month Low as Fears of Ukraine Conflict Shake Markets

Bitcoin tumbled almost 9% on Monday to its lowest in six months as fears of a Russian attack on Ukraine saw riskier assets worldwide extend their sell-off.

Bookies: You Don't Have to Meet Your Players to Pay Them Any More With This App

Bookie Agent App for Paying and Collecting Money Without Having to Meet Face to Face

Introducing Agent Payment 4K.  It's a complete player payment control app only available at Power Pay Per Head. 

The Fed May Create a US Digital Currency

The Fed May Create a US Digital Currency

The central bank just released a 40-page study on the benefits and risks of a central bank digital currency (CBDC).  The agency avoided taking any type of stance on the matter.

Russia Proposes Ban on Use and Mining of Cryptocurrencies

Russia Proposes Ban on Use and Mining of Cryptocurrencies

Russia's central bank on Thursday proposed banning the use and mining of cryptocurrencies on Russian territory, citing threats to financial stability, citizens' wellbeing and its monetary policy sovereignty.

Syndicate