Feeds

Online betting nobbles Coral results

Eurobet needs some Deep Heat up its backside

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

UK bookies Coral lost £52.3 million last year, mainly thanks to the soaring costs of marketing its Eurobet Internet gambling site.

Coral made a gross profit of £162 million but operating costs leaped to £166 million, up from £77.3 million in 1999.

The company paid £4 million for Eurobet. According to the Telegraph, Morgan Grenfell Private Equity, Coral's private owner, also stumped up £10 million to expand Eurobet.

We had a quick look back to see what Eurobet had been doing with its promotions during Euro2000. Ladbrokes offered to refund the stake of your first bet up to £50 whether you win or lose. Littlewoods (www.bet247.co.uk) had an online only offer, which gave a free £5 bet for £5 stake. Victor Chandler (www.victorchandler.co.uk) gave a free £25 bet for first time punters.

According to portal QAZ.com, Eurobet offered "nothing special" for the event. But it did do a promotion which wasn't available online – it offered to match bets, pound for pound, for first time over the phone betters.

The Telegraph quotes an insider saying, "Coral is making a load of money, but it just needed some additional equity to grow Eurobet." ®

Remote control for virtualized desktops

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Internet Security Threat Report 2014
An overview and analysis of the year in global threat activity: identify, analyze, and provide commentary on emerging trends in the dynamic threat landscape.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.