UK Mobile Gambling Provider Probability Reveals Revenue Growth
Posted: October 27, 2012
Updated: October 4, 2017
iPhone and iPad betting app result record revenues for UK mobile gambling firm Probability.
One of the most developed lands for mobile gambling is the United Kingdom. Mobile gaming technology provider company Probability issued a trading update this week.
Probability net gaming revenues grew an astonishing 35.3 percent and reached GBP 2.3 million in the fiscal period ending in September 2012. Player deposits were 44 percent higher than the same period last year.
Lady Luck, the firm’s flagship iPhone App has been downloaded over 40,000 times since June 2012 and appears regularly among the top downloads in its category in the UK App Store.
The Long John’s Silver mobile achieved in under two weeks GBP 1 million of total mobile bets.
Playyoo, the company’s Italian subsidiary launched a new iPhone and iPad football betting app in partnership with SNAI also showing betting revenues above expectations.
Probability CEO Charles Cohen commented: “We are very pleased with the performance this quarter. Our customers did not appear overly distracted by the Olympics, but then we did all spend a lot of time in front of the TV waiting for events to start. A perfect opportunity to have a quick play with our games.”
Cohen added: ”The Playyoo business which we acquired in the summer is developing well, with existing Italian B2B clients expanding the range of games they take from us and new clients showing strong interest in the offering.”
Mobile gambling in Italy is promising
The CEO described: “Preparations are on track for our Slots games to be introduced into Italy later this year and we hope to begin the certification process very soon. A small amount of revenue from Playyoo is included in these results for the first time, and we expect this contribution to grow significantly over time.”
Cohen noted: “In the UK market, our investment in new customer acquisition through TV and other digital media has continued to deliver encouraging results in line with expectations.”
UK gambling laws allow wagering RMB (real-money bets) with mobile devices. As a result, the last few years saw the emergence of dozens of mobile gaming developers all across Great Britain. Probability has been developing and operating mobile gambling offerings since 2002 in regulated markets, releasing over 30 titles.