Bet365 Profits Huge in 2013
Bet365 is enjoying massive profits on its Internet gaming operations, according to a recent report in EGR Magazine.
Earnings for UK-based giant soared an amazing 54% for the 12 months ending in March 2013 as punters piled on a 57% increase in wagers.That came out to almost £20 billion ($30.8 billion USD) in actual wagers and added up to £148 million ($228 million USD) in profits.
While there are plenty of bright spots in an earnings report like this, Bet365′s mobile growth was particularly noteworthy. Mobile bets were up a whopping 150%, raising revenues in that sector by 158%.
To give an idea of how far ahead Bet365 is running ahead of the competition, that £20 billion in wagers is more than the number two and three UK online gambling companies combined.
Bet365′s massive earnings in the online gambling space stand in stark contrast to its operation of the Stoke City football club. That venture is bleeding cash and cost Bet365 as much as £31 million ($47.8 USD) during the reporting period.
In a release trumpeting their big year, company CEO Denise Coates said that Bet365 plans on beefing up its IT infrastructure to keep up with the growth.
Are you promoting Bet365? If you are, we’d love to know if you’re seeing this kind of growth, too. Share your experiences in the comments section below.