Betfair increases mobile sales by 78%

Gambling firm Betfair has increased mobile sales by 78% to reach £4.2m in its first quarter of the 2012 financial year.

Gambling firm Betfair has increased mobile sales by 78% to reach £4.2m in its first quarter of the 2012 financial year.

During the period ended 31 July 2011, 7.4 million bets were placed via mobile devices - an increase of 94% compared with the same period last year.

The company's overall sales were down 7% to £80.8m in the quarter.

David Yu, Betfair's CEO, said its mobile products are gaining traction with customers. One-third of sports customers are now using a mobile device to place a bet.

"The 7.4 million mobile bets placed in the quarter was almost double the number made in the same period last year. The broad reach of our mobile products across 17 languages and multiple platforms gives us a strong base for continued growth," said Yu.

"Mobile is key element of our growth strategy and we have invested heavily to create a broad range of products from which we can drive mobile usage from both our existing base and new customers," he said.

Betfair has developed a mobile website as well as native mobile applications for Apple iPhone and iPad, and Google Android devices.

The company recently rolled out improvements to its mobile apps, introducing live scores and faster response times. Yu said more customers are using mobile apps to make cash deposits and withdrawals.

"These changes have proved popular with customers, demonstrated by greater uptake of in-play betting and an increase in the average time spent on the product, leading to 78% growth in mobile sales to £4.2m," he said.

At the end of August 2011, rival gambling firm Paddy Power said its mobile sales for sports were up 279% in the first half of 2011, with 35% of active customers using mobile devices to make transactions.

Read more on Mobile hardware

Start the conversation

Send me notifications when other members comment.

By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy

Please create a username to comment.