Sky Bet profits from increase in online gambling
Posted by Chloe Flint on 04 Aug 2009 at 14:08
Bosses at Sky Bet have said a recent rise in its revenues show it is carving a niche for itself against stiff competition on the internet.
E Gaming Review reports the company's revenue to the end of June went from £44 million to £48 million compared to the same period in 2008.
The increase is being put down to a high rise in the number of people gambling online - an increase so high it is offsetting a decrease in television gaming.
Sporting and casino betting account for the bulk of revenues, with E Gaming Review saying the company's pre-tax profits stand at around £11 million, almost doubling 2008's numbers.
Sky Bet managing director Richard Flint was quoted by EGRmagazine.com as saying the UK's Sky brand was providing a strong platform for revenues.
He said: "All our products are accessible from a single account with no need to transfer funds between products.
"Our four product verticals all come under the Sky brand, which makes for a more heavyweight brand and has enabled us to attract customers who might not have opened gaming accounts previously."
He also said that an improving customer service, online marketing techniques and community features all played a part in the increases.
EGRmagazine also quoted him as saying: "We have also been better at leveraging the Sky brand with good click through rates from Sky Sports and Sky channels.
"The media access (via Sky) is great but we also have to be cautious and ensure we stick to our corporate and social responsibility issues."
He also said the company would welcome the idea of new rules for the online gaming industry in overseas markets, while continuing to up its game in the UK market.
