Mobile Online Gambling Growth Boosting Paddy Power

Published Tuesday, March 05, 2013 -

The hundreds of online gambling operators in the U.K. are sharing a fickle market that sees millions of pounds or euro wagered every day. Those who have been advertizing, sponsoring, expanding and keeping on top of such issues as customer service and prompt payouts have been making profits that meet their expectations.

Other firms who are stuck trying to flog the same old horse are losing ground to more progressive and aggressive marketers of the same basic gambling services. Of the many a few stand out as growing concerns that make gambling fun and easy and the iconic Irish firm Paddy Power is definitely one of those noted companies. Paddy Power said recently its online betting operations were going from "strength to strength" after the sector lifted profits by 15% over the last fiscal year.

Proof is in the pudding as they say and as most people know the mobile sector is moving at alarming rates. Paddy Power admitted that almost three-quarters of its 139.2 million euro or £120.3 million in profits came from online sources after doubling the number of active customers to 1.6 million since 2010. Mobile revenues increased by 185% last year, evidence that the smartphone, tablet trend is packing a punch in the online gambling industry. Paddy Power is on to the fact that only 9% of the 333 billion euro £287.8 million global gambling market is currently online, leaving the other 91 percent to follow. Paddy Power’s online profits grew 8% to 102.1 million euro or £88.2 million in 2012 - or by 27% before investment in four new ventures.

It’s UK retail profits also continued to expand well, up 46% to 15.3 million euro or £13.2 million. Paddy Power opened 44 new betting shops in the U.K. last year and said it looked forward to the results of the Responsible Gambling Trust's major research project on machine oriented gambling.

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