|Sportingbet has announced that itís been taking an extraordinary eight bets per second, allowing the online bookmaker to post record results. The group has moved its year-end to July 31 to smooth out quarterly figures and according to the Financial Times turnover has risen from £979m to £1,086m, while pre-tax profits jumped from £1.4m to £9.2m.|
Nigel Payne, the chief executive said: 'Things have never been better. The number of bets is going up and at more than 200m that's eight bets a second. The customers are going up and the cost of bets is coming down. I'm finally getting my blue water.'
Itís great news for Sportingbet which has had a hard time with U.S. regulations in the past. Payne said that the cost of providing an offshore bookmaking service was £2.87 a bet as opposed to £1.60 in Europe and that the market continued to punish the group because of the regulatory problems in the US.