Bet365 has, once again, impressed the entire gaming industry with phenomenal double-digit growth as they report gaming and betting revenues totalling £2.72 billion for the fiscal year ending March 25, 2018. This figure represents a 26% increase over the previous year.
The firm’s gambling profits came to £682 million for the same period, representing an equally impressive 33% gain over the previous year.
Bet365 Record History
Going back a bit further, results look even more impressive. For the fiscal year ending in March 2016, the company’s revenue was reported at £ 1.55 billion. So revenue has nearly doubled in just two years. Topping things off, the current reporting period is being treated as an “off year” since it includes neither any Euros or the World Cup. When World Cup wagering is included in the next year’s reports, results could set new records.
Bet365 was quick to point out growth in sports wagering, explaining that new offerings like Bet Builder, the expansion of Early Payout, and streaming live esports for the first time were all contributing factors.
Sports Boost
Denise Coates, joint group chief executive, said in her report, “Supported by the sports product enhancements and increased marketing investment, the amounts wagered on sports increased by 12%, whilst the number of active customers rose by 4% and the sports margin percentage experienced growth.”
77% of sports revenue was generated by in-play wagers and mobile revenues climbed by 29% over the year prior.
Bet365 has held the number one position in EGR’s annual Power 50 rankings for eight consecutive years now. Proving that they plan to hold onto their impressive power and growth, the company currently has a cash reserve totalling £1.8 billion, which will allow for plenty of future development.
They have also announced a recent deal with New York based casino operator Empire Resorts to gain access to the much anticipated New York State sports betting market. Eilers & Krejcik Gaming LLC estimates that New York will be the largest sports betting market in the United States except for, perhaps, California. They expect the state to generate more than $1 billion in annual revenue within five years of sports betting legislation passing.
Bottom Line
Bet365 is without doubt one of our favourite casino brands, listed and recommended in our website. There are many reasons to mention when considering this gambling venue:
- Long history with proven successful operations.
- Regulated in all top jurisdictions.
- Lightning fast withdrawals and high limits.
- Multiple payment methods, including PayPal, Neteller and all major credit cards.
Their terms and conditions are clear and don’t use fake propaganda: what you see is what you get. I personally love their detailed FAQ section with lots of information about common questions. Payment methods available in your area, withdrawal speed, limits, wagering contribution charts and much more.
Clearly Bet365 took the time to build a successful operation in benefit of the players, which at the end translates in higher revenues for the company, year after year.
Well done Bet365!!! Keep rocking!!!