Revenue Boost For Mybet

Online gaming and betting company Mybet Holding reported a three percent rise in revenue for the first half of the year to €34.9 million ($45.4 million) – partially due to the good performance of its Sports Betting and Casino & Poker divisions.

Revenues increased by 13% for Sports Betting and two per cent for Casino & Poker.

The figures have been announced after the company opted to sell its lottery operations in German-speaking countries for €12.5 million last year – a move mybet said was designed to allow it to focus on the sports betting market.

Sports betting stakes placed on mybet’s internet platforms were up by 17% to €51.6 million in the first of 2013.

However, growth in the sports betting sector was hampered by weaker business at betting shops, where stakes dipped by 21% in the first half of 2013.

Revenue from casino and poker games was up by 25% to €12.4 million in the first half of the year. Owing to the sale of lottery operations in German-speaking countries, lottery revenues were down 54% in the period – while horse racing betting also declined by 19%.

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