by Anton Johan
Sportingbet, one of the UK's leading betting groups, announced this week that it had taken in over £50 million worth of bets during the past World Cup held in South Africa.
The group's revenues were boosted by a number of factors in its favour, including the fact that a number of scores went against the favourites and the fact that a significant number of games in the tournament had low scores.
Sportingbet said on Thursday that its 'in-play' betting service proved very popular and that 65% of bets made during the World Cup were done through this service.
The in-play service essentially allows players to take a position on a wide number of potential outcomes in the match being played, while it is being played.
Despite the patriotic feeling that followed the English squad during the World Cup, Sportingbet noted that only 5% of the bets were placed on England actually winning the title.
A quarter of the bets placed on an outright winner were put on Spain, and most bets were placed on the final of the tournaments.
"In line with much of the betting industry, the group enjoyed a strong performance during the FIFA World Cup," said Sportingbet's Chief Executive, Andrew McIver.
The group will announce its full year results in October this year.
An analyst at Collins Stewart commented on Sportingbet's fourth quarter results and said: "The World Cup was well ahead of expectations, but it was offset by weakness elsewhere."
"Sports betting on other fourth quarter events was below forecast (a World Cup effect), it was hit by the withdrawal of France, and Casino and Poker were particularly weak (in line with trading at PartyGaming, 888, etc.), he concluded.
