Ladbrokes buoyed by mobile and in-play betting

Ladbrokes has revealed continued “double digit growth” in digital customers, many of which were through its mobile channel.

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Ladbrokes has revealed continued “double digit growth” in digital customers, many of which were through its mobile channel.

A fifth of all sports bets made through its Hybris-powered sportsbook went through the mobile channel in Q1 2011 (ended 31 March), the betting company said in its interim management statement. This was up five percent from 15 percent in Q4 2011.

The growth in mobile has helped drive a 22.4 percent growth in sportsbook net revenue.

Richard Glynn, chief executive at Ladbrokes, said: “This has been another period of progress for Ladbrokes.

“We have invested considerably in digital marketing and customer acquisition remains strong. We are starting to see this drive growth in the top line, particularly in the key focus area of UK sportsbook."

Ladbrokes said that its Bet in Play offering, which allows punters to place bets during a match, was particularly successful.

Bet in Play represents 57 percent of sportsbook revenues, up from 49 percent for the full-year 2011 results. Furthermore, the company’s football Bet in Play offers bets on more football matches (up to 800 matches a week) than any other provider, according to the latest Gambling Compliance survey.

Meanwhile, the company said that its new website is currently in customer testing, and the full live launch is set for May. Earlier this year it said it would also launch a new mobile betting platform in the second quarter.

It will also “shortly” begin trading using a new fieldbook (a record of bets taken on a race) and introduce more algorithmic pricing and trading tools.

“We are continuing to deliver on our trading and digital milestones with further developments expected in the coming months,” Glynn said.

Ladbroke’s net revenue in the quarter was up 8.9 percent on the same period last year, while its group operating profit had increased by 3.9 percent compared with Q1 2011. Its digital net revenue was up 5.9 percent, year-on-year.