Last week’s Melbourne Cup provided a thrilling finish when Almaddin edged out Heartbreak City at the winning post, but the amount of wagering on the day was not as exciting. According to Australian bookmaker Tabcorp, there was $141.5 million (£87.7m) wagered on the 10-race Melbourne Cup meeting at Flemington across the Tabcorp-owned NSW, Victorian and ACT TABs, which was in …
Read More »
Paddy Power Betfair’s third-quarter revenue performance for its sportsbook was flattered by the recent decline in the value of the pound but still managed a 15% rise in constant currency terms over the period. Total sports net revenue came in at £316m. Adding in gaming net revenues of £88m, which rose 14% in constant currency terms, and the total net …
Read More »
Following the announcement that the government must await Parliament’s involvement before Article 50 can be triggered, William Hill has cut its odds about a General Election taking place next year from 6/4 to 6/5. Before you place that bet though, note that Hills makes 2020 the 10/11 favourite to be the year of the next General Election. The Conservatives are …
Read More »
According to spread betting firm Sporting Index Donald Trump is on course to win the majority of States but he’ll ultimately fail in his presidency bid. Following the further revelations about her email usage and public revelation of the FBI investigation, Hillary Clinton is now predicted to win fewer states than Trump but still become the 45th president of the …
Read More »
Paddy Power the only bookmaker to have paid out early on Hillary Clinton winning the 2016 US Election, has admitted to having severe doubts regarding its generous decision. On 19 October the bookmaker closed its US 2016 market, paying out approximately £800,000 on a Clinton victory. However, following Clinton’s ‘email scandal’ reappearing on the US Election agenda, Donald Trump has …
Read More »
Updating the market this morning, Sportech Plc has informed that its ‘The Football Pools’ division will not be sold to industry private equity firm Burlywood Capital. Last September, a sale of the Football Pools was announced with Burlywood governance agreeing to pay Sportech a total cash consideration of £97 million for its asset. Issuing a corporate update, Sportech’s CEO Ian …
Read More »
Following 18 months of negotiations, the merger of Ladbrokes and Coral has finally been completed, with the new enterprise officially adopting the corporate name of Ladbrokes Coral Plc. Issuing a short statement, Ladbrokes governance confirmed its official merger completion this morning: “Ladbrokes plc announces it has today changed its name to Ladbrokes Coral Group plc. The merger is expected …
Read More »
The Financial Times has reported that embattled European bank Deutsche Bank is preparing to cash-in on its 17% stake in Nevada casino operator Red Rock Resorts (formerly known as Station Casinos). Deutsche governance are reported to be seeking a $440 million sale price for its stake in Red Rock a company it invested in 2011 as the operator looked to …
Read More »
A Norfolk man trading as ‘Billie the Bookmaker’ has been sentenced to 12 months for selling devices which provide illegal access to SIS sports channels. Although his income from the illegal activity was said to be £20,000, the value of the lost subscriptions to SIS was valued at least £2 million. William Marston was given a custodial sentence at Norwich …
Read More »
The £116 million acquisition of Talarius arcades by Novomatic Group (Novomatic) faces an ‘in-depth investigation over competition concerns’ by the UK Competition & Markets Authority (CMA). Publishing an industry update, CMA officials detailed that following Novomatic’s acquisition of Talarius, the company would operate 264 UK adult gaming centres, which may harm sector competition conditions. Stating its concerns, the authority detailed …
Read More »
SBC News Voice of the Sports Betting Industry