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Bet365 announced new records for profits and revenue

Privately owned UK online sports betting giant Bet365 announced the record fiscal year 2018-19 during which it’s betting and gaming revenue hit £2.98b. Operating profit rose 12% to £0.767b and profit after tax rose 16% to £0.682b.

Bet365 revealed a bigger number of active customers, 23% higher compared to the previous fiscal year. Those customers wagered almost £64.5b during fiscal 2018-19, up 22.7% from the previous year. This fiscal year ended on March the 31st, including the 2018 World Cup games.

Bet365’s profits

Bet365’s profits are largely depending on in-play betting as it accounted for 79% of the company’s betting revenue, and this is a better performance by 2% than the year before. Mobile betting revenue improved by 18% year-on-year. This is a little surprise that we didn’t expect to see, as mobile betting represents nearly 50% of traffic for many of Bet365’s competitors. This shows there are certain limits when it comes to conversion from desktop clients. Figures stated above don’t include contributions from the Stoke City Football Club, which is owned by the Coates family. Stoke City FC generated losses, but the overall picture is better compared to the previous year.

bet365 announce new records

Denise Coates, the owner of Bet365 and the best paid female executive in the world, is now paid three times more than CEO of Apple Tim Cook, according to the Guardian. ‘’If Denise Coates’s record-breaking £265m pay packet was stacked up in new £50 notes it would form a tower almost twice as high as the Shard skyscraper in London’’ the Guardian says emphatically. Coates was made a Commander of the Order of the British Empire in 2012.

Bet365 backdoor algorithms

Bet365 has been criticised several times for limiting winner’s accounts while offering even higher limits to loser’s accounts. Recently, a former Bet365 customer account supervisor from the Australian branch of the company, revealed how bet365 uses backdoor algorithms, restrictions and allegations of delaying tactics to skew the competition and drive up profits.

Bet365 has been identified as a key bookmaker for sharp action from our community of smart bettors, most of the times used as s soft bookmaker. Many members reported using Bet365 as a reference, comparing it with Pinnacle, who is considered the top bookmaker for sharp action. In addition, many value betting activities are based on Bet365. However, the successive record fiscal years are showing that Bet365’s traders and strategists are doing an excellent job.