Online betting exchange doubles profit in HY1, reports CEO
Online betting exchange Smarkets released its HY1/2015 report saying it had delivered a solid performance that should see it achieve GBP 6 million in profit at year end.
Smarkets said profits had doubled as a result of triple-digit growth on every major sporting event and a doubling of profit in the first half of the year.
Wimbledon in particular has been a boon for the company following its "Win with Wimbledon" campaign which Smarkets said attracted "tens of thousands" of entries.
"We believe our growing customer base is a result of our continued efforts to provide transparency, excellent odds and industry low commission, Jason Trost, founder and chief executive officer of Smarkets, told BD Daily. "We're hoping the momentum continues as traction for this year's Wimbledon has overshadowed the previous year completely.
"We're pleased to see that our drive to build on the tennis vertical is resonating with existing and importantly, new customers."
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