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BETFAIR posted profits of £23.6 million, an increase of 17 per cent, as the online gambling exchange and bookmaker announced their third quarter results for the 2015 financial year.
With total revenue growing to £114.6m, an increase of 20 per cent compared to the same period last year, Betfair expect to post full-year ebitda - earnings before interest, taxes, depreciation, and amortisation - of between £113 and £118m.
The previous expectation for full-year ebitda was between £97m and £103m.
It was the fourth consecutive quarter Betfair recorded double-digit growth in revenue, although the effect of the point of consumption tax introduced last December was felt as ebitda would have been approximately £7m, or 51 per cent, more.
The number of active customers was also up significantly to 760,000, an increase of 35 per cent, with 80 per cent of sportsbook customers placing a bet using a mobile device in recent months.
Next week's Cheltenham Festival offers the opportunity to entice new customers, and Betfair have been promoting their "Tap Tap Boom" marketing campaign on TV which is designed to showcase how simple it is to place a bet using their mobile products.
A free bet offer on every winning selection at 3-1 or bigger on all races at the four-day meeting is also regarded by Betfair as their most generous headline promotion for the festival.
With total revenue growing to £114.6m, an increase of 20 per cent compared to the same period last year, Betfair expect to post full-year ebitda - earnings before interest, taxes, depreciation, and amortisation - of between £113 and £118m.
The previous expectation for full-year ebitda was between £97m and £103m.
It was the fourth consecutive quarter Betfair recorded double-digit growth in revenue, although the effect of the point of consumption tax introduced last December was felt as ebitda would have been approximately £7m, or 51 per cent, more.
The number of active customers was also up significantly to 760,000, an increase of 35 per cent, with 80 per cent of sportsbook customers placing a bet using a mobile device in recent months.
Next week's Cheltenham Festival offers the opportunity to entice new customers, and Betfair have been promoting their "Tap Tap Boom" marketing campaign on TV which is designed to showcase how simple it is to place a bet using their mobile products.
A free bet offer on every winning selection at 3-1 or bigger on all races at the four-day meeting is also regarded by Betfair as their most generous headline promotion for the festival.
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