Bet365 Reports 12% Profit Hike for 2018–19 Fiscal

Bet365 has reported annual revenue of about £3 billion for 2018-19 fiscal ending March 31.

The betting operator’s annual gaming revenue touched the £2.98 billion mark. The figure represents a 10% year-on-year increase from what Bet365 had grossed during 2017–18 fiscal.

The company’s operating profits also jumped 12% to £767.1 million. The profits after tax were reported £681.7 million which is a 16% increase from the previous fiscal’s figures.

The company also attributed the increase in revenue to an increase in the number of active customers across its platforms. The active customer base increased by over 23% year-on-year.

The new customers contributed to the company’s betting handle to the tune of £64.5b representing a 22.7% increase when compared with the previous year’s figures.

The major contributor to Bet365’s betting revenue for the fiscal was in-play betting. It accounted for 79% of the betting revenues. The company’s mobile betting revenue jumped 18% year-on-year.