Bookmakers Paddy Power said today that the strong performance of its online divisions contributed greatly to its performance in 2009, with e-commerce accounting for more than a third of overall income.
Amounts staked across all Paddy Power divisions increased 12pc and total amounts staked reached €1.1bn. Out of this online accounted for €431m of income, retail accounted for €475m, UK retail accounted for €91m and telephone based income reached €151m.
Total turnover in Paddy Power’s online division was up 32pc in constant currency, marked by a 20pc increase in active customers.
The company’s online division reported a 3pc growth in operating profits of €22m – representing 65pc of group profits.
“In our Online, Irish Retail, UK Retail and Telephone divisions, we have grown our market share substantially,” said Patrick Kennedy, Paddy Power chief executive. We now have a very strong position in the substantial UK online betting market, which is forecast to continue to grow strongly.
“This market share growth is not an accident – value, product and brand are in our DNA. We give better value than our competitors, combined with strong product and the best brand in the business.
“It’s early days in Australia, but Sportsbet is an excellent fit with Paddy Power and has buckets of potential to build on its market position as we complement its existing skills and experience,” Kennedy said.
By John Kennedy