View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
June 30, 2011

Bets worth £1bn were placed via Betfair’s mobile products last year

Revenues from mobile products grew 88% in last financial year

By CBR Staff Writer

Online betting and gaming operator Betfair has said that over £1bn worth of bets were placed via the company’s mobile products in the last financial year.

In its full year results, the Betting Exchange saw 168,000 people using their mobiles to place a bet in the last year – a year-on-year increase of 122%.

The company said that revenues from mobile products jumped 88% in the last financial year which saw over 900 million bets on the Betfair Exchange.

Betting increased because of major events such as the Cheltenham Festival and the Football and Cricket World Cups.

The company has first-to-market applications for both the iPhone and iPad, which have been downloaded over 200,000 times, said Betfair. The company also offers HTML-5 Web based applications for Android phones and the new Racing on Your Mobile application, powered by Timeform.

Betfair enables third-party developers to build their own mobile products off of the Betfair Exchange through its API (Application Programming Interface) as well. Betfair offers mobile developers a new revenue-share deal in March which sees 5% of the revenue generated through applications returned to the developers, said the company.

Content from our partners
Unlocking growth through hybrid cloud: 5 key takeaways
How businesses can safeguard themselves on the cyber frontline
How hackers’ tactics are evolving in an increasingly complex landscape

Betfair VP of Mobile Engineering Raj Vemulapalli said developing new betting methods and experiences for the customers who wish to access Betfair through their mobile phones is a key priority of the business.

"The surge in global smartphone sales represents a significant opportunity for us, and we’re confident that our track-record of delivering cutting-edge technology for our customers will enable us to capitalise on this trend," Vemulapalli said.

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU