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bet365 Shows Significant Revenue Growth All AroundPublished November 28, 2018 by Lee R
Diversification and expansion seem to be powering bet365's continued revenue rise.
bet365 is experiencing significant growth according to recent figures for the financial year ending March 25th, 2018.
The figures of significance are headed by total revenue's 25 percent climb to £2.86bn with operating profit climbing 31 per cent to £660.3m, with the sports vertical receiving the majority of the credit for growth.
Sports and Gaming Contribution
In a period with no significant sporting events to drive growth, sports and gaming turnover carried the day jumping 26% year-on-year with a £2.712bn contribution, with customers wagering £52.56bn for a 12% jump.
bet365 Chief Speaks
Stoke-based bet365's co-chief executive Denise Coates cited specific product enhancements as responsible the robust performance including the launch of a bet-builder product and early payout functionality for high-profile sporting events.
New eSports Offerings
The eSports vertical further further significantly expanded the bet365 event portfolio with its array of sporting events to bring the bet365 live event total up to 160,000. This development contributed heavily to the number of sports wager customers climbing 4%.
The most popular form of wager proved to be in-play betting, which brought in some 77% of sports revenue, with mobile betting's 29% growth indicating the people's choice for most favoured channel.
bet365 mobile offerings fueled gaming growth with the launch of new bet365 Games apps for iPhone and iPad, with significant investments in advertising during the year contributing to a 40% year-on-year increase in betting and gaming direct costs to £406.4m.
Another key investment for bet365 was in responsible gaming, centered around bet365's in-house Early Risk Detection System (EROS). Coates pointed out bet365's investment in external partner projects as well as new technologies tap into machine learning and artificial intelligence to detect harmful gambling behavior.
bet365 capped off its activity with what it likely considers it's crown achievement—it's £75m donation to the charitable Denise Coates Foundation, a project which subsequently succeeded in donating over £100m to a range of projects including Stoke area cancer care improvement, as well as effective participation in Oxfam and relief programmes in a range of countries struck by natural disasters.
The list of bet365 accomplishments goes on, with the gaming operators showing resilience and strategic expansion at the forefront of its further development.