Things are looking good for Betfair
While the prospective yield is fairly modest, Betfair is a young company and if recent figures from Paddy Power, which suggest that online gambling is still growing, can be applied to Betfair then there is every reason to be optimistic.
The company recently hired Breon Corcoran, formerly at Paddy Power, and it is very likely he’ll bring the same success he enjoyed there to his new position. Betfair’s shares have recently begun to rise and there is a chance they could reach the 900p barrier.
Betfair is not the only company enjoying success at the moment. Paddy Power’s online division saw a 7% rise in profits to £38.5 million in the first half and the group’s pre-tax profit rose by a fifth. William Hill is also doing well; they are currently on 11 times this year’s forecast earnings and yielding 3.7%
Overall the gambling world is looking profitable and it looks as though Betfair, Paddy Power, William Hill and many other betting firms will be enjoying success for a while to come.