Paddy Power derives more than half of revenue from mobile
Fifty-two percent of Irish operatorâs total net revenue comes from smartphone and tablets during H1 as mobile sportsbook stakes top â¬800m
Paddy Power derived more than half of its total online net revenue from the mobile channel during the first six months of the year, a period in which the operator saw its online profit hit by adverse sporting results.
Mobile contributed approximately â¬126m to the firmâs total online net revenue of â¬242.3m, with the channel also seeing 73% of active sportsbook customers and 43% of total gaming deposits in June.
Mobile sportsbook stakes rose 45% year-on-year to â¬811m and the channel rose to 60% of sportsbook turnover, driven by new mobile products and proprietary content.
Paddys also reported strong performances from its mobile products in international markets, particularly in Italy and Australia which both saw its share of the mobile market increase in the period.
In Italy Paddy Powerâs mobile sportsbook grew its share to 18% of the market, a leading stake, while the firm was also boosted by launches of new mobile casino products in the jurisdiction during the first half of the year.
Mobile turnover in Australia surged 72% to â¬411m, equivalent to roughly half of total online stakes in the country, and Paddy Power was recently voted as the âhighest rated mobile sports betting brandâ.
The operator recorded an 18% slump in online profit in H1 to â¬43m, a decline Paddy Power head of online Peter OâDonovan labelled a âshort-term blipâ the operator would âtake on the chinâ when talking to sister publication eGaming Review.