The online bookmaker reported sales for the first half rose 30%, with gaming division sales up 37%, and in particular poker and casino revenues have increased by 106%.
The gross win margin improved to 11% from 9.9%. with non-sports betting contributing 61%, up from 44%.
UKbetting has a unique model of originating gambling customers through its own network of content sites, which has proved to be extremely valuable and has delivered revenue growth, without the need to increase customer acquisition costs.
The group had an average customer growth rate of 7,200 registrations a month, of which 59% came from within the group\’s network of sites.
The company said it remains on track to reach full year market expectations, assuming normalized sports betting margins in the second half.
“The strategy of originating our own gambling customers from our content network continues to grow our top line while helping to maintain a relatively low cost base. The frequency that these customers gamble with us is improving as the available offering grows, and the decision to reduce the number of competitors advertising on our sports content sites is expected to improve this further. Against a backdrop of increasing customer acquisition costs, our network is becoming increasingly important and we remain well placed for future growth,” said Peter Dubens, Chairman of UKbetting.
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