Irish Sports
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What will this mean for Betfair users?
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Replies: 11
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would imagine pp just replace the sportsbook with exchange staying as is.
Might improve the site issues on exchange though hopefully. |
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Jeez, such a pity PP didn't go for the daq, hopefully it might lower commission and abolish PC though agree with you Olddesperado that they will probably remain seperate entities at least for a considerable time.
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The only two places I have accounts.
Obviously they decided they needed to merge to take me on. |
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Similar thread removed on horse racing,
What's that all about? |
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Dunno, it looks as if it almost certainly goes ahead, PP shares up 15% and Betfair 18%, the market loves it.
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In any merger the primary aims are to reduce running costs by combining certain functions and to increase revenues by gaining customers.It is genuinely hard to know what the plans will be for the exchange but one would have to think that the casual exchange user will be encouraged to migrate to the PP sports book.
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I expect margins will "be brought in line" or, in plain English, "increased".
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(ShareCast News) - Betfair posted a rise in first-quarter revenue and core earnings on Wednesday and announced that it has agreed in principle to a possible merger with Paddy Power.
In a trading update for the three-month period ended 31 July, the company said revenue was up 15% from the first quarter of last year to £134.5m despite the comparative period containing the World Cup, with revenue from sustainable markets such as the UK, US and Australia, up 24% to £116.3m. Mobile revenues were 57% higher, with 75% of UK customers now using mobile, while earnings before interest, tax, depreciation and amortisation were 19% firmer at £41m. Chief executive officer Breon Corcoran said: "These results represent another strong performance. Double-digit revenue growth against the period containing the World Cup last year is particularly encouraging and was ahead of our expectations. "Betfair has continued to attract and retain customers through investment in our products, attractive pricing and market-leading promotions. The football season has started well, helped by increased brand investment. In time for kick-off we launched our 'More to Play For' advertising campaign across Sky Sports and BT Sport, signed new partnerships with five Premier League clubs and increased our presence on stadium perimeter boards." Sports revenue increased by 8% in the period, while gaming revenue rose 27%, driven by an increase in the number of Sports customers using these products for the first time and strong growth in mobile gaming. In a separate statement, Betfair said it has reached an agreement with Paddy Power on the key terms of a possible merger that would create one of the world's largest public online betting and gaming companies by revenue. |
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It wont make a whole pile of difference to anybody who makes it pay i would have thought.
Neither Betfair or Powers leave anybody who can win bet with them anyway, so to all intents and purposes, this is one company who entertain mugs only taking over another one. It is not a merger either by the way, its a takeover, and you would have to wonder did Corcoran ever leave Power's at all. |
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P power were offering 4/1=8/1 at kempton tonight also offering 2/1=4/1 at one of the dog meetings when i was there this morning ; i doubt if they join up with sportbooks they will be giving such specials ;having said that they cant be much worse then Sportsbook at the min, i cant even get a bet on with them.
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Not being able to get a bet on does not impress me.
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