Sportingbet announced this week that its profits have risen
significantly in the past year, thanks to an increase in its European sports
betting offers and the introduction of new features.
Since November 2008, Sportingbet has added in betting and live streaming of
matches, leading to more UK and European punters using its services.
As a result, over 64% of the group's net gambling revenue comes from sports,
an increase from 52% only two years ago.
Poker profits fell in the same period, it was reported.
"We grow up with a sports heritage, where you don't necessarily play poker in
your youth," commented the Chief Executive Officer of Sportingbet, Andrew
McIver.
Sportingbet has shown significant improvement in performance since it was
forced to close its US unit in 2006, following the introduction of anti-online
gambling legislation by the then-Bush administration.
As a result of a 9.2% rise in shares this year, the group said it would start
paying dividends again to shareholders.
In addition, Sportingbet said it would be moving from the Alternative
Investment Market in London to the Official List within a period of six months.
On a global scale, the group is also doing very well. Revenues in Greece grew
by 56%, while an 11% increase was reported in Spain.
The group is also hoping to settle with US authorities in the future over
charges of illegal gambling activity in pre-UIGEA days.
