Online Gambling Market - Not Affected by Recession

According to an article published on RakeRace.com, the biggest online gambling firms continue to grow in revenue across Europe and the United States, despite the economic crisis.

In Europe, most companies release financials every quarter year, and many have recently made their quarterly profit viewable for the public.
Paddy Power, Ireland’s biggest betting company reported a nice revenue growth during the first half of this year, with their profits leaving  those of this time last year behind by 50%. This also has to do with this summer’s FIFA World Cup, which has earned Paddy Power €11 million in bets. Customers of Paddy have won €205.6 million altogether in the first half of 2010.

Since 2008, Paddy Power has established more than 100 betting shops around Great Britain. They have received lots of press attention by utilising marketing tricks never really seen before, like placing a betting shop right outside the Vatican, making it available to bet on the identity of the next pope.

Sportingbet has also experienced the beneficial effects of the World cup, with bets worth $78 million flowing in during the championship. Sportingbet representatives said they are expecting to meet the yearly management expectations without any problems.

RakeRace.com states, that while sports betting flies high, online poker and casinos continue to linger compared to expectations. Partygaming’s overall profit exceeds €19.5 million, although the poker revenue has dropped by 9.6%. PartyBets, however, is making up for PartyPoker’s losses, by having provided an 89% revenue increase.

888.com, a company lacking a sports betting site, announced results matching those reached a year ago, with their total operating income being $61 million.