Live Streaming to increase revenue at Sportingbet.
28th November, 2008
Sportingbet is focusing on live streaming of sporting events in the hope it will increase its sportsbook revenue.
The launch happened at the end of October, with raw data showing a 5 to 10 percent increase in total gaming revenues.
According to finance director at Sportingbet Mr Jim Wilkinson, they suffered a temporary drop on in-running betting margins, but this was recovered as the number of markets in-running was offered to.
Sportingbet’s CEO Andrew Mclver said that the resulting rise in operating profits of 45% for the three months leading up to 31 October, was a clear indicator the group had made a solid start to the new financial year.
Wilkinson added “whilst sports betting has historically shown itself to be ‘recession hardy’, no industry is recession proof.”
Casino and Games have been reported strong for the group, with net revenue up 34% which was supposedly helped by the flow of customers recruited from its sports sites. However Sportingbet’s revenues for poker have continued to drop, down 4% on last year, which is believed to be due to US-facing poker sites competition.
Sportingbet plans to start operations in the South African market, as well as expanding further into the European football markets.
By Rommon
