Revenue soars at web betting firm

Online betting exchange Betfair has said annual revenues jumped 30% after it benefited from ’significant’ investment in technology and new products.

The introduction of an online casino, re-launch of Betfair Poker and improved marketing helped to attract record numbers of users to the company’s site.

Betfair’s number of registered customers is now in excess of one million, with active users up to 443,300 at the end of April, up 57% on a year earlier.

Revenues of 182 million resulted in a 26% rise in underlying earnings to 48 million, but one-off investments of around 12 million contributed to a fall in pre-tax profits to 25.3 million in the year to April 30, from 36.5 million. Read more

Read the rest >>

Related Poker News:

• Gambling software firm CryptoLogic’s profit soars 58%, Playboy signs on
• Gambling software firm CryptoLogic’s Q1 profit soars 58% to US$7.7 million
• Las Vegas betting firm employees plead guilty to fraud
• Expansion on the cards at spread betting firm
• Philweb partners with UK firm for online sports betting
• Monaco investment for sportsbet firm
• Poker firm bets on Chandler
• PartyGaming acquires online sports betting firm
• Dogan Yayin confirms bid in betting firm tender
• 32Red buys sports betting unit from pools firm
• Casino firm Stanley Leisure profit down 4 pct
• Eagles line soars with loss of McNabb

Great New Casino with Time Limited New Bonus: Get up to $5000 FREE!

Accepts All Players international including USA (ALL States)

Interesting gambling information:

• Blackjack originated in French casinos around the 1700's where it was called "vingt-et-un" (twenty-and-one) and has been in United States since the 1800's.
• Gambling is defined by the Webster's New World Dictionary as the following: to play games of chance for money or some other stake, or to take a risk in order to gain some advantage.
• The most significant forms of illegal gambling in the United States are numbers, betting with bookmakers or bookies, and sports pools or sports cards.
• When traveling to Las Vegas be sure to check out some of the incredible scenery outside of the city. Lake Mead is about 45 minutes away from the city and is a beautiful place to cool off. When things get really hot, give Mount Charleston a try. It\'s approximately 30 degrees cooler. Red Rock Canyon is only a 30 drive. There is also the stunning Valley of Fire which is 1 hour away from Las Vegas.