Turnover and profits soar as bet365 post strong set of accounts

Turnover on sports and gaming at online gambling giant bet365 has nearly breached the £3 billion mark according to the company's latest accounts.

In the 53 weeks to the end of March, bet365 recorded a ten per cent increase in turnover to £2.98bn, while operating profits rose 12 per cent to £767 million.

The accounts put the latest increase down to a "good" football World Cup last year, along with an extra week of trading activity and reduced direct costs.

The amount wagered on sports increased by 23 per cent, as did the number of active customers.

In-play betting represented 79 per cent of sports revenue in the period, while mobile sports delivered revenue growth of 18 per cent, "consolidating its position as the most popular medium for sports betting".

Headcount has also increased at the company, with 4,646 staff employed at the end of the period, a 15 per cent increase on the previous year.

In her review of the business Denise Coates, joint chief executive of bet365 with her brother John, said: "Looking forward, the sports, gaming and associated support functions will continue to make sure that they are suitably resourced to manage business growth, deliver innovative product development, provide a safe and high quality customer experience, maintain robust processes that ensure compliance with the requirements of multiple regulatory frameworks and maintain their collective position at the forefront of the industry."

Denise Coates: 'unwavering commitment to player protection'Credit: Hugh Routledge

The accounts also detailed a number of safer gambling measures used by the company, including an early risk detection system, which monitors customer activity for behaviour that may indicate a potential concern.

Coates said: "The group's ambition to provide world-leading products and services is matched by an unwavering commitment to deliver industry-leading approaches to player protection."

She added: "The group recognises that player protection is not a competitive exercise. To that end, the impact of its systems and the positive results it identifies through internal research are routinely shared across the industry.

"In the coming year, the group will continue in this vein, and is willing to work with other operators and regulators on raising standards across the industry, in a shared endeavour to make gambling safe for all."

The company also made a charitable donation of £85m to the Denise Coates Foundation. The directors were paid a total dividend of £92.5m during the period, up from £90m.

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