Poker revenue was up two percent to £22.9 million at Betfair in the year to the end of April 2012 from £21.9 million. This compares to a fall of 15 percent in financial year 2011. Poker actives fell by 9 percent to 147,000 from 161,000 in the same period while revenue per user rose to £152 from £136.
The company, which moved to the Ongame network in 2010, said, “Q1 was the final quarter to be affected by year-on-year comparisons to the pre-migration period before the move to the Ongame network which caused an initial decline in revenue.
“Poker revenue has now seen six quarters of stability since the migration. Excluding Italy, revenues in the final nine months of the year increased by 14%.
“In Poker, an emphasis on recreational players and improving network ecology has seen like-for-like revenue increase 6% year-on- year, excluding Italian revenues.”
Betfair, the world’s largest sports betting exchange, reported a more than 50 per cent jump in pre-tax profit for the 12 months to April 30, mostly a result of heavy beting on the Euro 2012 in recent weeks.