This year has seen a large amount of online betting success for industry giant Paddy Power, who have seen a large rise in profits of fourteen per cent – even as they have spent big on expanding their online business into Italy and fought off rival companies who are also moving into the online sphere more and more as time goes by.
The Irish bookmaker has been better at reacting to the move online than William Hill and Ladbrokes, judging by their customer numbers and their profits: they have managed to make over three quarters of their profit through the online business over the last year, with their online customers having doubled since 2010 to the new figure of 1.6 million. Though these figures do not include the slot machine games and table games that you might be able to play with some of the bookmaker sites, it is clear that Paddy Power has a strong lead as we look to the year ahead.
William Hill may be the largest and indeed oldest bookmaker in the UK, but they have not yet caught up with Paddy Power: they have invested almost a billion pounds into their online business, expanding into Spain and Australia, but they were beaten to the finish line before they even started to invest, as chief financial officer of Paddy Power Cormac McCarthy explains. “We have had full control of our online business as long as we’ve been around, we have had a business in Australia for some time so the things that other people are having to deal with, we’re there already,” he said. “I’d never underestimate competition, particularly players who have very strong brands and very strong positions but we’ve been at the head of this for a long time now. We think, yes, we have an edge. Absolutely.”
Impressively enough, it seems that the Dublin based bookmakers have managed to capture more than a quarter of the mobile sports betting market, with revenue from smart phone and tablet betting rising one hundred and eight five per cent over the last year to 129 million euros.