|
Betfair, now a sizeable international group employing 900 staff across two offices in London and others in Malta, Denmark and more recently Australia, reported year-on-year revenue growth of 36 percent to ₤145 million, with pre-tax profits rising 65 percent to ₤38 million from ₤23 million in the corresponding period last year.
The group ended the year with a cash balance of over ₤142 million – more than double that in the last reporting period which was ₤52 million. Net asset value in the group rocketed from ₤48 million in 2005 to a stunning ₤130 million this time around.
The number of bets placed rose to 1.3 billion over the last reporting period and Betfair sites are now handling over five million bets per day, with more than ₤2,000 a minute being deposited onto the sites.
The total of active monthly exchange users was up to almost 160,000 from 95,000 last year, with registered customers up to almost a million by the end of the World Cup, which alone generated 11 million bets. Active monthly gamblers spend an impressive “dwelling time” of an average of 1 hour 10 minutes on the site every month.
Operating now in 18 languages, The Betfair exchange has also seen encouraging returns from its ventures in emerging markets in regions outside the UK, accounting for more than a third of total revenues, compared with less than a quarter in 2005. Half of all new registrations have also been from outside the UK.
The company noted with approval that the UK tax arrangements remain unchanged for betting exchanges. Finally the company made its position very clear to U.S. authorities by confirming that Betfair has never accepted bets from US gamblers.
Back to Lastest Gambling News
Back to Gambling
News Archive
Back to Gambling News - October 2006 Archive
|
7Sultans
Casino
