Sky Bet’s profits have rocketed in the first half of 2017/18
The Sky Betting & Gaming Group has published its interim results, showing extraordinary growth over the past 26 weeks.
The Leeds-based group have reported growth of 47% over the 2016/17 interim. Group revenues, split between Sky Bet (£210 million) and Sky gaming (£117 million), have resulted in a massive total of £339 million.
This is a huge increase of £119 million over the £230 million garnered over the 2016/17 period. This includes 2 million active customers, something the Sky Betting and Gaming leadership states has resulted from both its the refinement and optimisation of its customer offerings and improvements made in its promotions and betting markets.
When Sky Bet ended their affiliate program, there was a sense that this could affect their bottom line, but they have managed to retain and even increase user interest. This could set a precedent for the rest of the betting market, as betting sites can depend on their own brand ahead of anything else.
Discussing these successes, Richard Flint, Sky Betting & Gaming CEO, stated that:
The business continued to perform very well in the first half of 2017/18. Our focus on the customer, and delivering quality experiences, offers and promotions continue to differentiate our brand, and we extended our lead as the UK’s most popular online betting brand.– Richard Flint, Sky Betting & Gaming CEO
Safe and responsible gambling
Some have pinpointed Sky Betting and Gaming’s Success on their dedication to responsible gambling. During this trading period, Sky Bet innovated with the innovative Safer Gambling scheme. This includes investing in researching user psychology and analysing data, to better ensure a safe space for all customers. As Flint has said:
We support a mandatory research levy and increased regulation from the Gambling Commission to protect customers that are at risk. We also extended our headline sponsorship of the English Football League for an additional five years, taking it through to the 2023/24 season, with responsible gambling at the heart of the agreement.– Richard Flint, Sky Betting & Gaming CEO
This growth has come in combination with providing an additional 230 jobs in the Yorkshire region, as well as contributing over £300 million in gross value to the region’s economy.