Webis Holdings, a global online gaming group, has released a trading update for the third quarter of its financial year showing continued growth in its BetInternet.com sportsbook and its European Wagering Services (EWS) parimutuel operation.

Early last month, Isle of Man-based Webis released its six-month results showing a 35 percent increase in turnover to £71.5 million alongside a rise in earnings to £381,000 from £43,000 in 2007.

Webis revealed that BetInternet.com launched the first phase of an enhanced In-Running product in February offering live betting opportunities on an increased number of soccer matches.

“The board plans to add further enhancements to this product over the coming months,” read a statement from Webis.

“In the short time that this new product has been operational, we have seen significant growth in In-Running turnover and this product has helped to generate an increase in BetInternet.com’s aggregate turnover during the period at an increased gross margin.”

Webis revealed that EWS’ gross margin has also improved alongside business completed through its higher-margin Link2Bet.com website and call centre channels.

“Encouragingly, the company now has a better mix of revenues across all available wagering channels,” read the statement.

“Additional website enhancements and further infrastructure improvements for both BetInternet.com and EWS are on schedule for implementation during the fourth quarter of the current financial year. BetInternet.com will also be raising its profile by sponsoring a number of horse races over the coming months.

“The board remains confident that the company’s much improved performance over recent months can be continued into the future.”


Source: iGamingBusiness.com