Bet365's Full Term Growth is Driven by Innovative Player Protection and Player RetentionPublished December 24, 2019 by Lee R
The latest performance results from Bet365 indicate that a cohesive strategy is working.
Despite increasing operating costs, Bet365 is running smoothly and showing more growth.
Near Double Figure Growth
For the financial year ending March 31, 2019, the operating giant turned in a 9.7% reported year-on-year rise in betting and gaming revenue, with profits achieved against increased investment in marketing and enhancement of responsible gaming controls.
Stakes And Revenue
For the term, Bet365 customers staked £64.49bn on sports for a 22.7% year-on-year improvement, with sports betting and gaming revenue reaching £2.98bn.
Bet 365 Chief Speaks
Bet365 joint chief executive Denise Coates attributed success to “significant investment” in developing proprietary content, led by native apps rolled out in key regulated markets, and bolstered by live casino performance:
“The number of unique new games available to customers increased in the period,” to improve player retention and increase the number of active customers, with the report indicating 23% year-on-year growth, across sports and casino verticals.
Bet365's innovative sportsbook offering developed further for the year with the launch of cash out functionality within its Bet Builder feature for in-play and pre-match wagering with the Edit My Bet feature launched for each way bets.
Mobile and In-Line Estimates
The operator estimated mobile sports revenue up 18% for the period, with in-line play accounting for some 79% of betting revenue.
World Cup Impact
The full year results covered the FIFA World Cup in June and July 2018, with Coates attributing increases in expenditure to that key event, though costs related to revenue still declined 11.5% to £359.8m.
Improving mechanisms for detecting addictive player behavior remains the priority for Bet365, through refining the way its technology interacts with customers.
Bet 365 advanced this priority in the year through experimenting with new technologies such as machine learning, furthering player behaviour research and enhancing customer-facing staff training.
Coates asserts that the study will be transparent for the good of all stakeholders, calling player protection “not a competitive exercise,” while affirming that “the impact of Bet365's systems and the positive results it identifies through internal research are routinely shared across the industry.”
Overall, the positive revenues against costs and the protections Bet365 is proactively implementing as well as developing appear to be dual signs of resilience and growth that will be reflected in next year's returns and beyond.