Smartphone Gaming Leads to Record Profits for Casinos and Sportsbooks
Aug 29, 2013
Rises in profits signal potential of mobile betting in the UK
Paddy Power and 888 Holdings have reported record profits for 2012 thanks to massive growth in the smartphone gambling sector. Android and iPhone gambling has boosted profits for the companies to EUR 77 million and EUR 38.1 million respectively.
Mobile is the biggest attraction for gamblers in recent times, and has resulted in a series of high profile adverts filling British television screens. Big campaigns by giants such as Ladbrokes, BetVictor and Paddy Power have resulted in a massive surge in mobile sports betting popularity.
Not far behind the sportsbooks, though, are the mobile casinos and gamblers can see some juicy bonuses aimed at luring them away from the seemingly more popular sports market. With Facebook opening the possibility for real money casino games online, there is a definite potential for further growth in the online and mobile markets.
Paddy Power’s finance chief Cormac McCarthy thinks there’s potential for massive growth in mobile, as he revealed: “We think mobile is very significant, especially in the next four or five years. We think the mobile and tablet market has the potential to grow to L4-5bn.”
With potential new tax legislation in the UK, companies are also targeting foreign climes, with 888 Holdings chief Brian Mattingley believing that last year’s financial results show: “good progress in new markets with tremendous success in Spain and Italy where we see further opportunities for growth”.