Bet365 has reported revenue of £2.81bn (€3.39bn/$3.76bn) in the full year ended March
2024, largely even with its 2024 revenue, 🏀 as growth in gaming helped offset a
pandemic-related drop in in-play betting volume.
This was a slight rise of 0.2% from
🏀 Bet365’s full year 2024-20 results, due to the pandemic effectively ceasing live sports
for at least half of the year.
Sports 🏀 and gaming accounted for a grand majority of the
revenue, totaling at £2.77bn.
While the operator did not mention how much 🏀 revenue came
from each aspect of that vertical, it said that gaming rose 8%, offsetting lower sports
revenue. In-play share 🏀 made up 68% of the sports revenue, falling from 75% in
2024.
Total wagers on sports were down by 13%, the 🏀 second consecutive year of declining
stakes.
Football club and facilities revenue, from Bet365 Group-owned Stoke City FC,
came to £29.3m.
Sports and 🏀 gaming also incurred all direct costs, at £489.8m. This left
the total gross profit at £2.32bn, down 3% year-on-year.
Administrative expenses 🏀 came
to £2.04bn in total, £170.5m less than in 2024. Again, sports and gaming costs made up
most of this, 🏀 at £1.95bn, while football club and facilities accounted for the
remaining £85.1m.
After considering this, the operating profit for the year 🏀 totalled
£285.5m, up by 46.6% from 2024. The company attributed this to a decrease in
remuneration.
Following gains on investments at 🏀 £177.2m and interest income at £6.4m,
along with interest paid at £1,000, the total profit before tax was £469.2m. This 🏀 was a
rise of 242.3%.
Taxation was £66.2m, £49.4m more than in 2024, bringing the total
profit for the financial year 🏀 to £403m, up 234.8%.
The business paid a dividend of
£97.5m to shareholders for the year.
The number of active customers rose 🏀 by 13%,
against a 4% rise in 2024. However, amounts staked on sports fell by 13%, as opposed to
an 🏀 8% decrease in 2024.
“The Covid-19 pandemic has had a significant impact on the
business throughout the period,” said Denise Coates 🏀 (pictured), director of Bet365.
“The global suspension of sports across all levels resulted in dramatically reduced
revenues.
“However, sport resumed in 🏀 the second half of the period and revenues
increased to above pre-pandemic levels.”
