Betfair mobile app bucks overall decline
Betfair has linked its UK revenue increase in the last quarter to the growing popularity of its mobile app which has been used by one-in-two customers here.
The global betting exchange’s UK arm bucked a 4 per cent annual decline in revenue to £90.5m in the three months to January 31.
Breon Corcoran, Betfair CEO, attributes the decline in revenues to regulatory changes across Europe and highlights the growing success of its mobile products.
“UK revenue increased 6 per cent during the year driven by the continued strength of mobile betting and favourable sporting outcomes,” he says.
“Mobile revenue doubled in the quarter and the channel accounted for over 50 per cent of activations last month.”
Betfair also claims more than 50 per cent of UK customers have placed a mobile bet, accounting for 20 per cent of its commission payments here.
The growing popularity of Betfair’s mobile apps, which are at the core of its off-line marketing activity, has also been spurred by the introduction of a notification service that keeps customers updated when goals are scored in their selected matches according to the company.
Betfair is also thought to be reviewing its European creative and media planning accounts worth up to £3m a year in the UK.
