In-play markets boost Webis revenue growth

Betinternet-owner Webis has announced strong revenue growth in its online sportsbook and casino in a trading update for the financial year ended May 31 2013 thanks to an increase in its live betting offering.

The group didn’t release any numbers, but said in-play betting had boosted revenues and all sports showed an increased margin during the period with results proving more “favourable” particularly in the second half of the year.

During the period its egaming subsidiary betinternet increased the number of sports for which it offers in-play content during the period, with tennis proving to be particularly popular following the addition of the sport in January 2013.

Webis said the gross margin for sports improved both in value and in consistency after the company invested in data and pricing feeds, most notably its deal with IMG subsidiary Enetpulse for real-time tennis score feeds.

Casino and games also experienced growth during the period, although the group said revenues from the vertical were “slightly impacted” by some big wins.

The AIM-licensed operator’s tote betting and racetrack operation WatchandWager recovered from initial payment issues and the group claimed it finished the year in “a much stronger position”. The company inked a deal to offer pari-mutuel betting and live video streaming on all Churchill Downs races in May this year, having secured a licence to operate its tote business in California in 2012.

The launch of the new WatchandWager.com website in the last quarter has been heralded by the company’s board as a potential source of higher-margin player activity, with the operator expecting growth to continue into the current financial year.