|Despite resolute lobbying for the regulation of Internet gambling by many in 2002, including Sportingbet, the likelihood of such regulations being passed remains remote. Instead various US politicians are set on introducing restrictive bills that could have serious consequences for online gambling businesses.|
Sixty percent of Sportingbet’s sales are made in the US where residents generate roughly half the company’s trade. Nevertheless a spokesperson for Sportingbet insists the company remains resolute that the laws will change: 'a proper regulatory framework for internet gaming in the US will eventually emerge, but that this is unlikely in the short term.'
In the mean time Sportingbet has turned its attention to other more profitable areas in the globe. Business in Europe hit profit targets in October that were five months ahead of schedule. Changes in UK gambling regulations have led the way in Europe for industry growth and many other European countries are eager to follow suit in anticipation of the revenue to be reaped.
Next Sportingbet plans to focus on both the Asian and Australian markets where new growth is expected. In Australia a review of I-gaming regulations is currently underway and many insiders suspect it will lead to positive news for the online industry.
Doubtlessly it is Sportinbet’s investment in the global online gambling community that has resulted in the announcement of a recent but substantial growth in profit generated by a customer base of almost 85,000. Taking an average of 92,000 bets per day during the third-quarter Sportinbet’s revenue rose sharply by £2 million taking the total to £354 million. For Sportingbet things can only get better.