MyBet Sees Significant Rise in Size of Bets Last Quarter
MyBet has announced that it saw a significant increase in the amount wagered by its customers over the three month period to September 30.
Overall revenue in the third quarter was €16.7 million, just 6.7% lower than the same period for the last year. Revenues dropped in both the sports betting arm and the casino and poker arm. However, there was a significant rise in revenue from horse betting with the figure up 41% to €2.7 million.
Earnings before interest, tax, depreciation and amortisation were up from a loss of €2.2 million last year to €45,000 this year and adjusted earnings also increased. Thanks to these results revenue this year is at €53 million, up 1.3% on the €52.3 million from last year. The company is now hoping that this success will continue as they roll out new products and a new platform.