Published: 14:29 11/01/2012
Bet365 the largest UK online betting firm have recently released accounts for the year ending March 2011 showing a small dip in annual profits to £91M.
Bet365 is one of the largest privately owned business's in the UK with the Coates family still owning the vast majority of the shares . The business reported a surge in turnover to £8.5bn but saw profits fall around 9%.
The Companies House financial report stated that "the small decrease of the prior year, despite the rise in revenues, reflected the group’s high investment levels in the period, combined with additional costs incurred in relation to its preparation for newly-regulated markets."
Bet365 has since applied for online gambling licences in Denmark and Spain and continues to eye markets including Australia, Greece, Germany and the Netherlands, among others.
Bet365 have been one of the leaders in the introduction of in play betting and mobile betting and their new mobile betting platform launched last year also boosted amounts wagered through that channel by 500% and were flagged up as an “important growth area for the business”.
The Bet365 sportsbetting operation is still licensed in the UK and pays UK betting duty at 15% which many of it's competitors do not as they are based offshore.
Bet365 offer the most competitive free bet offer in the market with their £200 Free Bet sign up offer and also offer a £50 free bet to first time users of the mobile Bet365 platform.
With a great variety of daily offers such as the Feature Race 4/1 Offer and best odds guaranteed on all horse races Bet365 appeals to many regular horse racing customers whilst football fans are catered for with the Bet365 bore draw offer and many other day of match specials .
The Stoke On Trent based firm is very well respected within the industry and also has a strong track record in donations giving £404,000 to charities last year including £250,000 to the Responsibility in Gambling Trust.