Betfred Posts Almost £2b in Online Betting Revenue Over 18-Month Period

Betfred Posts Almost £2b in Online Betting Revenue Over 18-Month Period
Betfred Posts Almost £2b in Online Betting Revenue Over 18-Month PeriodBetFred enjoys strong results for 18-month period ending on September 2014. United Kingdom gaming company Betfred have announced a staggering revenue of £1.9 billion during the period of 18 months that ended on 28th September 2014. Since its last public announcement of figures, the UK operator went on to change the date of its fiscal year, meaning the 18-month period has been compared to the previous 12-month interval. But, seeing as Betfred’s online turnover had been £1.1 billion for the previous fiscal year, the latest figure corresponds to a 15% increase on pro-rata basis. Total Turnover is £13.3 Billion The famous sports betting operator houses just short of 1,400 retail betting shops, and counting both the offline and online channels, the company revealed the total turnover was £13.3 billion, as opposed to the £8 billion turnover in the previous 12-month interval. This is enough to suggest that the company has enjoyed some strong results over the last year and a half, moving up in what is a very competitive online betting market. Considering that BetFred is a privately owned firm, they are not required to share all the business information with the public, but the data they did disclose clearly suggest the company is moving in the right direction. The revenue climbed from £362m to £593m, whereas earnings increased from £69.2m to £101.9m. The result becomes even more impressive when we take into account that Betfred lost some £3 million on the Australian mobile betting project that closed shortly after it launched in 2014. The company, controlled by brothers Fred and Peter Done, also saw significant improvements in their Tote business, that hadn’t performed up to expectations during the previous fiscal year. Betfred Makes £18.6 Million in Levy Payments As required by law, Betfred made £18.6 million in Levy payments during said 18-month period, while making another £19.1 in direct contributions to racing in the UK. The company paid £158.7m in taxes over the year and a half interval, whereas its net debt decreased from £213m to £145m. Betfred CEO John Haddock had plenty of reason to celebrate, with the betting firm recording some very good results in spite of “increased taxation, regulation and a very competitive market place.” The Warrington-based bookmaker faces fresh challenges to keep its position as one of the leading UK gaming operators, but aforementioned results will certainly provide an important impetus for the years to come.

read more

Playtech Announces Virtual Sports Features

Playtech Announces Virtual Sports Features
Playtech Announces Virtual Sports Features Playtech’s Virtual Football Game due for release towards the end of 2015 In recent years we’ve seen some big name brands like William Hill known for sports betting venturing into the online casino marketplace. Online casinos entering the sports betting arena on the other hand has not been so common, and if you’ve ever wished your favourite online casino could offer a wider range of betting options, software giant Playtech may have just the answer for you in the not too distant future. In a recent announcement the software giant unveiled a series of unique, innovative industry first features within an expanded Virtual Sports Portfolio. This exciting new portfolio which will be available towards the end of 2015 will include a range of fully simulated sports games which allow for realistic betting and gameplay. Licensees of this new multi-channel package will be able to select from football, basketball and trotting, greyhound and/or horse racing, velodrome and speedway as well as tennis, each with its own league and tournament fixtures all with full sports animations and in-play betting functionality. This platform will be available across media including retail, mobile and satellite and will be compatible with most devices. Those in the know maintain that the games will be of the same high quality as Playtech’s casino games offering in terms of the graphics, with these having been shot on location using feature film motion capture technology and real life professional sportsmen and women. The games will offer realistic odds and a host of betting options as well as multi-language functionality with local language commentary being featured within each game, making these games the ultimate experience in virtual sports. Head of Playtech’s Virtual Sports division (yes they have a division for this already), Elliot Norris has been quoted saying that the virtual sports portfolio that the company is able to offer is the best the industry has ever seen. Playtech has also received a number of positive reports from licensees and test audiences in regulated markets – so we’re on the edge of our seats in anticipation of the new launch! Watch this space for release details and reviews.

read more