Interwetten Q3 boosted by cash out and gaming
Success of new betting feature and growth in casino behind 16% revenue growth despite drop in margin
Malta-headquartered operator Interwetten said the successful implementation of cash out functionality and strong gaming growth helped it to a 16% rise in revenues for Q3.
Revenues for the three months ended 30 September were 13.7m, compared with 11.8m for the same period last year, growth the operator described as “extremely encouraging”.
Sportsbook revenues grew 8%, helped by the implementation of a fully in-house developed cash out feature in April which the firm said had been “very well accepted” by customers and contributed around 5% of total sportsbook revenues and saw sportsbook staking rise 19%.
Elsewhere gaming revenues jumped 20% and mobile continued to grow – it was responsible for 55% of sportsbook staking and 39% of casino during the period.
The firm also said new partnerships with iSoftbet and Betsoft had been integrated across all channels of its product portfolio over the past few months.
Interwetten founder and majority shareholder Wolfgang Fabian said a rigid focus on organic growth and a unique product offering “underlined the company’s success formula”.