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Bet365 Reports 12% Profit Hike for 2018–19 Fiscal

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5 years ago

December 19, 2019

Niji Narayan

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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.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.