Sportingbet Forecasts Big Increase in Wagers

Online gaming operator Sportingbet plc said this week that it forecasts an 11 percent increase in amounts wagered for the six-month period ending January, on the back of strong growth in Australia and developing markets.

Sportingbet growth continues

The company recorded£513.9 million in total wagers in the quarter ending October, for an increase of 11 percent, and expects the trend to continue. The first quarter growth saw it record net gaming revenues of£51.1 million, growth of 5 percent against the same period the previous year.

Sportingbet said in a statement that strong performance in Australia and emerging markets had offset losses in Spain and Greece, where the debt crisis continues to hit online gambling.

"Our recently announced Russian joint venture and the continued enhancement to our mobile offering serves to highlight the attractiveness of our product and geographical diversity," it said.

Sportingbet facts

One of the veterans of the online gaming industry, the British company is listed on the London Stock Exchange and is worth more than£1.5 billion pounds.

The company offers online betting, online poker and the reputable SportingBet Casino and other games, as well as its new mobile betting service which is available in several different languages.