Just like online product sales for common goods have forced many brick-and-mortar stores that are retail close, this indicates the greater amount of ‘punters’ in the UK bet online, the less they bet in conventional bookmaking stores.
Online successes felt from the merger that created Ladbrokes Coral haven’t completely offset the losses anticipated at retail betting shops across London and the UK.
Ladbrokes Coral’s revenue from electronic operations climbed 17 % in the half that is first of, with activities betting revenues up 25 %, in line with the FTSE 250 company’s latest public financial reports, released on Thursday.
The general amount wagered online on sports grew by 27 percent, while revenues from games such as online roulette showed an 11 per cent increase. Profits from land-based operations, meanwhile, slipped six %, although the total amount bet in these stores on like-for-like offerings declined seven percent.
Coming FOBT Crunch
The boost that is online total revenue inch up by one percent compared to last year, but figures for retail betting make for grimmer reading. And with regulations on fixed-odds wagering terminals expected to be tightened soon carrying out a federal government revue, probability of a retail rebound seem slim.
Some politicians have called for the odds on FOBTs to be cut from £100 ($131) a spin to £2 ($2.61), a move that the bookmaking industry has warned would caus […]