Betfair mobile revenues up 57%
Operator announces another sharp increase as it looks to keep pace on channel with potential merger partner Paddy Power
Betfairâs mobile revenues increased 57% in Q1 FY16 as the operator continues to build on impressive progress in the channel ahead of its proposed merger with Paddy Power.
Results for the first quarter of the financial year were reported alongside Wednesdayâs merger announcement, with the firm also revealing that three-quarters of UK customers are now using mobile.
Betfair said the majority of gaming customers are now using mobile for the first time, marking a significant increase for a channel which accounted for just 33% of gaming revenues in the last financial year.
But the firm avoided reporting the more detailed mobile figures revealed by Paddy Power yesterday, which said mobile revenues were â¬231.2m (£168.9m) or 67% of the total for the first six months of the year, up 15% year-on-year.
Those figures appear to place Paddys well ahead of Betfair on mobile, despite the latterâs impressive recent growth.
In June Betfairâs FY15 full year results reported total mobile revenues of £157.4m – less than Paddy Power has made on the channel in just the last six months. Even mid-double digit growth for the next two quarters will likely see Betfair trailing Paddys on mobile by the time the merger completes.
In the meantime, Betfair will continue to focus on new products and updates, having recently launched partial cash out on mobile for the first time, while also updating its iOS exchange app last month.