There seems to be one constant, even in this struggling global economic environment. People will gamble. It may not be as frequent. It may not be as prolific. However, people will always be looking for a quick score. How many times have you done it? There is a purchase you would like to make, or a debt you would like to erase so you venture to your local convenient mart and pick up a lottery ticket, or go online or to a casino and place a bet on a sports game or a horse race. While it is not recession proof, gambling has stood the test of time from our ancient ancestors in almost every civilization to the present.
This being said SportingBet was pleased to announce that it turned a net profit for its financial year. They saw a profit of £12.4 million (over $20.3 million US) for the past twelve months. Quite an upturn from the previous twelve months which saw a loss of £4.3 million (over $7 million US). SportingBet, as one wold guess, is an online sports wagering site based in London. They have recently made strides in updating and improving their online sports betting site. They added live streaming to supplement in play betting. They also dramatically increased their offerings per day from 1,000 a year to over 8,000. Sporting bet has also launched casino style games to it site widening its appeal and keeping players on their site while waiting to see that final score from a soccer match.
Andrew McIver, the Chief Executive Officer for SportingBet, doesn’t feel that is the only reason the company saw such a turn around. “Sports betting is a more hardy recession-resilient product offer,” he said. He believes that the ease of sports gambling and the introduction of it at earlier ages leads to this. Mr. McIver was please to excited to announce that SportingBet is now showing a worth of £348.6 million (over $571 million US). This is especially pleasing because now they will be able to resume paying dividends.
