
Just as online sales for common items have forced many brick-and-mortar shops to shut, it seems the more ‘punters’ in the UK bet online, the less they bet in traditional bookmaking stores.
Online successes felt from the merger that created Ladbrokes Coral haven’t completely offset the losings expected at retail betting shops across London and the UK.
Ladbrokes Coral’s income from digital operations climbed 17 percent in the first 50 % of 2017, with sports gambling revenues up 25 per cent, according to the FTSE 250 business’s latest public economic 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 percent, while 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 per cent compared to last year, but figures for retail betting make for grimmer reading. And with regulations on fixed-odds betting terminals expected to be tightened soon adhering to a federal government revue, likelihood of a retail rebound seem slim.
Some politicians have called for chances on FOBTs to be cut from £100 ($131) a spin to £2 ($2.61), a move that the bookmaking industry has warned would induce the lack of 20,000 jobs, and end in clos Continue reading “Online Revenues Soar for Ladbrokes Coral as Retail Profits Tumble”