Online Sports and Political Betting on an Upward Climb
Mar 19, 2012
Sports betting is almost as old as the world itself. Ancient Persians, Greeks, and Aztecs often bet their lives on winning the game.
Sometimes the losers literally paid for lost wagers with their own heads. Now, it has become a bit less drastic as stakes are safely put via remote connections.
British bookmakers such as Ladbrokes or William Hill are renowned outlets which offer wagering opportunities to the punters. Many have moved in recent years into the cyberspace and now offer Internet and mobile sports betting for most major, as well as some minor, sports. The betting types offered are also of an enormous quantity, allowing for elaborate wagering strategies.
The British aren’t the only ones succeeding in the is industry. An Irish bookmaker, Paddy Power, just saw its profits rise by 16%. As reported by casino gambling news, at the same time the online and mobile revenues jumped by 26%. Out of 120 million Euro in total profits, two-thirds came from cyber betting.
The bookmaker is doing quite well in Britain with 30% market share in the mobile sportsbooks segment. This is a result of smart marketing done by the company as well as a wide offering, which includes betting options in more than 30 sport categories and several non-sport events among which are financial and political betting. For example, punters put their stakes on whether the FTSE Index will rise or fall, or place a bet on who will win the United States presidential race.
Paddy Power is also powered by high-quality mobile casino software, which only adds to its appeal. In addition, live mobile betting is possible as well.
Despite success in the cyberspace, the company is still opening land-based betting outlets. In 2011, Paddy Power opened 41 shops in the United Kingdom and seeks to open more. At present, the company has nearly 170 shops in the UK alone. The next steps include opening branches in Italy and the company hopes to get it done by this year’s European football championships.
When it comes to its home country, Ireland, the company’s profits there rose by only 1%, which is not bad given the hard recession the green island is presently experiencing.
Tags: Bookmaker, Bookmakers, Company Expansion, EUR, FTSE 100, Gambling, Ireland, Italy, Ladbrokes, mobile casino software, online and mobile revenues, Paddy Power, presidential race, Sports betting, Sportsbook, Spread betting, The Tote, United Kingdom, United States, Wagering, William Hill