Sportsbet is on the rise

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Sportsbet is a company on the rise after reporting that it was the fastest growing online bookmaker in Australia based on the number of bets placed through the company in 2013.

Sportsbet is owned by Paddy Power, an Irish company, which has reported to the market that during 2013, over 2.9 billion dollars worth of bets were made through Sportsbet. This represents an impressive increase of over 12 percent over 2012. The company also reported that revenue increased by 15 percent with a profit increase of 9 percent.

It seems that Sportsbet has taken market share away from other online companies such as Betfair and William Hill who both reported a drop in revenue. The results at Sportsbet were slighted dampened by the fact that the favourite for the race actually won the race. This results had a detrimental effect on all the betting agencies however.

It also seems like more punters are turning to the company’s mobile platform for betting with analysis showing that mobile turnover represented over 69 percent of Sportbet’s online traffic.