|According to a report in sportbusiness.com, UK-based sports book Sportingbet has been awarded the title “best performing company since leaving London’s junior trading exchange (OFEX).”|
Sportingbet reported a pre-tax profit for the third quarter of its financial year. Industry analysts say that this is due primarily to credibility: Andrew Lee, a sports and leisure analyst at investment bank Dresdner Kleinwort Wasserstein said “To the punter (bettor) there is an element of trust in Sportingbet because it has a British license, is listed on the stock exchange and complies with the Financial Services Authority (FSA),” adding 'The license and the listing have also helped the company arrange better financial facilities and this is extremely important for a low margin business such as Sportingbet.
Lee says that other unique features of Sportingbet’s business model are its global presence – the company operates across three different time zones, with a strong presence in Asia and the US, two of the key gambling markets.
Another strength is that the site was the first in the UK to offer tax-free betting. The company has a British gaming license, and is based in the Channel Islands. Sportingbet has recently added an online casino to their sports betting operations.