Sportingbets profits soar despite US internet gambling clampdown

Sportingbet, the online betting and gaming group, has revealed a leap in profits just a year after it lost 95% of its business due to a clampdown on internet gambling in the US.

The company has reported a 110% increase in profits for the three months ending 31 October. It comes after a year of restructuring at the company to focus on its European gambling products, which operate under Sportingbest, and its casino products, which are under the Paradise brand.

The group announced its profits have risen to £4.2m with strong growth in sports betting division. Its gaming revenue has increased by 27% and it has also reported an increase horse racing betting volumes in Australia.

Last month, Sportingbet appointed Lida to its £20m pan-European direct marketing account. The agency has been briefed to work on strategic planning and brand positioning as the company continues to restructure and launch more products in Europe.

Sapient Interactive is Sportingbet’s lead digital agency, concentrating on creating cross-brand interfaces and promotions.

Sapient Interactive is Sportingbet’s lead digital agency, concentrating on creating cross-brand interfaces and promotions.

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