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News Archive
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Sportingbet's profits surge
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[2005-12-01]
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Online gambling website Sportingbet has seen its profits surge over the third quarter, attracting a record number of new customers.
The group offers online betting on worldwide sporting events along with various online poker games, and has seen its profits jump nearly 400 per cent to £22.3 million over the three months to October 31st.
Chairman Peter Dicks said: "We have recruited more new customers, taken more bets, played more games of poker and made more profit than in any previous first quarter."
He added: "The benefits of the increased scale of our business across our multi-product one-stop-shop environment have been clearly demonstrated."
In one ten-week period, a promotion for the group's Paradise Poker website brought in 37,680 new gamers after they were given the chance to play against supermodel Caprice.
The company saw most of its success in the US, with 173,748 new sports betters brought to the site, drawing an average £31 each for the group.
Poker playing is also highly popular on the US sites, bringing in a substantial proportion of the company's income.
Chief executive Nigel Payne said: "The new US-facing shared purse technology has generated over $2.4 million (£1.38 million) of incremental poker margin and a further $1 million (£578,000) of sports and casino margin in the quarter."
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