Sports Betting in UK Shops Dampened by Olympics

Ladbrokes

UK’s second-largest bookmaker, Ladbrokes, has revealed that blanket Olympic television coverage and cancelled horse races had greatly reduced the sums of money gambled in British betting shops.

Ladbrokes also reported that although the Olympics in London proved to be very popular amongst Britons it did not result in a surge in their business as most of the sports in the Games did not attract large numbers of gamblers to place bets.

The bookmaker said that amounts that were wagered in its British betting shops were down 4.9 percent in the three months running through September which covered the Olympics and the Paralympics. The cancellation of 38 horse racing meetings due to bad weather also contributed to the decrease in the amounts wagered.

According to Richard Glynn, Chief Executive for Ladbrokes, viewers were offered 24 hours of free, high quality TV sports which went on for approximately 5 weeks during the Olympics and Paralympics. Glynn added that this resulted in people preferring to watch TV rather than go out to the betting shops.

Glynn also reported that its quarterly operating profit had reached 49.2 million pounds ($ 79.5 million) while net revenue rose 3.9 percent.

Ladbrokes’ first version of its new online sports betting website was released successfully and it is planning to move customers on to the platform by the end of March, 2013. The bookmaker has also invested in excess of 50 million pounds on technology over the past two years and is hoping to start seeing a payback from its investment by next year.

Amaya Gaming Signs Deal with Betfair

Amaya Gaming Group Inc. the Montreal based entertainment solutions provider for the regulated gaming industry, is thrilled to announce that the group has signed a three year licensing agreement with Betfaire Group plc.

In terms of the agreement between Amaya and Betfair, Amaya will provide some of its proprietary and branded games to complement the games on the Betfair Arcade platform. This will be done via Openbet integration onto the Betfair Arcade which will complement existing Arcade content.

Ian Price, Senior Vice President for Amaya Interactive said that they were thrilled to welcome a customer such as a well recognized brand in Betfair and that they have every confidence that their increasing list of innovative games will allow Betfair to broaden its client base by enhancing overall player entertainment on their Arcade site. Price added that they are looking forward to a long term mutually beneficial relationship.

Betfair is one of the world’s largest international online sports betting providers who pioneered the betting exchange in 2000. Betfair enables customers to bet at odds sought by them selves or offered by other customers. The company offers its customers a portfolio of innovative products that include exchange games, casino and poker in addition to sports betting.

Betfair was twice named the UK’S “Company of the Year” by the Confederation of British Industry and has also won two esteemed Queen’s Awards for Enterprise and many other awards.

The Amaya Gaming Group Inc. was founded in 2004 and is a technology based gaming provider for the regulated gaming industry.