Paddy Powers on

25/08/2010 | By More

It’s easy to forget in this modern age of betting exchanges that traditional bookmakers are still around and still going strong. Paddy Power just released results which showed that gross win was up 117% to €112m and operating profit up 66% to €36.1m. Online betting accounts for 73% of the group’s operating profit.

Paddy Power said profit before tax for the six months to June 30 grew 54% to €52.5m. In 2009 Betfair earned £42m for the whole year.

Paddy Power said an “exceptional” World Cup tournament generated total gross win of €18m (€12m in the period), a more than four-fold increase compared to Euro 2008 and the World Cup 2006.

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Category: Betfair

About the Author ()

I left a good job in the consumer technology industry to go a trade on Betfair for a living way back in June 2000. I've been here ever since pushing very boundaries of what's possible on betting exchanges and loved every minute of it.

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