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Online betting giant bet365 has announced £2.8 billion ($3.4 billion) in 2024 revenue, corresponding to the financial year ended March 👏 27, a figure that implies a 2.9% increase from the prior-year period. However, increased customer acquisition costs in new markets 👏 led to an almost 90% drop in profit, which totaled £49.8 million ($60 million) – down significantly from the £469 👏 million ($565.8 million) profit reported in the prior-year period.
Elsewhere in its report, the company noted staff numbers for the period 👏 rose to almost 6,100, up from 5,400 in the prior financial year, meaning staff costs were also up. However, some 👏 of this was offset by lower pay for directors, including chief executive Denise Coates — the company’s highest-paid director —, 👏 who received £213.4 million ($257.6 million), down by 16.5%.
The company also discussed safer gambling in its report, stating: “The group 👏 is committed to delivering a safe environment for its customers and we continued to invest significantly in this area.” Improvements 👏 are being made to bet365’s Early Risk Detection System (ERDS), models that allow the group to identify and interact with 👏 customers at risk of, or experiencing, harm.
“Evaluation of ERDS continues to demonstrate a highly positive impact on player behaviour and 👏 an increased use of gambling management tools,” said the operator, which added it continues to look forward to the publication 👏 of the UK Government’s long-delayed White Paper as part of the ongoing review of the Gambling Act.
Chip Romig, MMR 423
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