Britain’s Bet365 Buoyed by Record Growth

bet365 reports record growth in 2015.

Denise Coates pleased with bet365’s recent performance as profits increase 26.5 percent to £400 million+. (Image: stokesentinel.co.uk)

UK based bet365, one of the largest online gambling operators in the world, got a little bit larger during the last financial year thanks to an increase in mobile betting activity.

Following a review of the company’s financials during the 12 months between March 31, 2014, and March 31, 2015, bet365 has reported a 26.5 percent growth figure.

According to the balance sheet, bet365’s profit before exceptional items hit £409.3 million while year-on-year revenue was able to peak at just under £1.5 billion.

More Mobile Bettors

Much of the recent growth is down to an increased sports betting customer base that grew by 41 percent to 4.1 million to a total of 18.5 million.

Many of these new accounts were activated during the 2014 FIFA World Cup.

During this period thousands of first depositors were drawn in by a variety of betting offers; many of which involved in-game and mobile betting.

In fact, thanks to an increased focused on live betting via iOS and Android devices, bet365 was able to achieve 66 percent revenue growth in this area and make mobile betting its largest asset.

“The four weeks of the FIFA Football World Cup generated a significant number of new customers, increased amounts wagered and strong revenue performance during the traditionally slower betting period of June and July,” said bet365 chief executive, Denise Coates.

In addition to paying out £75 million in dividends to its owners, bet365 also gave away £10 million to its charitable offshoot, the bet365 Foundation.

Big Plans for 2016

Heading in 2016, the company is planning a move to a new headquarters in the UK which will give it the ability to increase staffing levels to more than 3,000.

Moreover, the gambling operator also plans to invest in new technology and improved services heading into the New Year.

Such improvements may be necessary for bet365, however, as many of its main rivals are now consolidating their assets in a bid to dominate the market.

Online sportsbooks Betfair and Paddy Power recently announced a £6 billion merger, just a few weeks after Ladbrokes and Gala Coral announced a similar deal.

This convergence of forces is bound to alter the iGaming landscape in 2016 and if bet365 is to continue thriving then it may need to consider a similar move at some point in the future.

However, as it stands, it looks as though the company is still a major force in the industry and one that will pose a real threat to the newly formed coalitions in the coming months.

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