Online Gambling Market Grows Vigorously Despite Recession

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2010. August 26.
The biggest online gambling companies continue to flourish despite the economic recession throughout Europe and the United States. In Europe, financials are being released every quarter year, and many companies have recently made their quarterly profit public.
Paddy Power, Ireland’s biggest betting office reported a massive revenue growth during the first half of 2010, with their profits exceeding those of this time last year by 50%. This also has to do with this summer’s FIFA World Cup, which brought Paddy Power €11 million in bets. Paddy’s customers have won €205.6 million in the first half of 2010.

recession

In the last two years, Paddy has opened more than 100 betting offices all around Great Britain. They have received massive attention from the press by using surprising marketing tweaks like placing a betting stand at the Vatican, making odds available to bet on the next pope.

Sportingbet has also expressed the beneficial effects of the World cup, with bets worth $78 million having been made during the championship. Sportingbet spokespeople are expecting to meet the yearly management expectations no problem.

While sports betting soars, online poker and casinos continue to fall back compared to expectations. Partygaming announced overall profit exceeding €19.5 million, but the poker revenue has dropped by 9.6%. They are making up for it with the help of PartyBets, however, which provided an 89% revenue increase.

888.com, a company without a sports betting subsidiary, announced results matching those published a year ago, with total operating income reaching $61 million.
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