Bet365 Revenue Rises for Fiscal Year
It has been a great year for Bet365 and an impressive annual report for 2018-19 financial year proves this. This online gaming giant has released annual financial results that say it made progress in multiple areas.
Prospering On Every Front
According to Bet365’s latest financial report, the operator generated revenue of £2.98bn ($3.94bn) for the 12 months ending 31 March 2019. This represents a 10% year-on-year rise from 2017–18 fiscal.
The company’s operating profits profit was £767.1m, which is an increase of 12%.
The biggest contributor to Bet365’s betting revenue for the fiscal was live betting. It accounted for 79% of the betting revenue, while the mobile betting revenue jumped 18% from previous year.
The amount wagered on sports was £64.5m, which the growth of customer base definitely contributed to, as the number of active customers across its platforms was up by 23%.
Key to Success
As Bet365 CEO Denise Coates said, one of the key factors behind the increased betting revenue was the 2018 FIFA World Cup. However, the company’s investments in creating proprietary game content, as well as the launch of numerous native apps and the growth of live casino were important for last year’s good performance.
“The number of unique new games available to customers increased in the period,” Coates explained. “As a result the group’s gaming operations experienced improved player retention and, ultimately, an increase in the number of active customers over the period.”
Over the year, the company has been focusing on providing different solutions to identify harmful gambling among its customers, as well as guiding them to healthier ways of playing.
This resulted in experimenting with new technologies such as machine learning, further researching into player behavior and improving training for customer-facing staff.
“In the coming year, the group will continue in this vein, and is willing to work with other operators and regulators on raising standards across the industry, in a shared endeavor to make gambling safe for all,” Coats concluded.