Feeds

Online betting nobbles Coral results

Eurobet needs some Deep Heat up its backside

  • alert
  • submit to reddit

Internet Security Threat Report 2014

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." ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Bono apologises for iTunes album dump
Megalomania, generosity and FEAR of irrelevance drove group to Apple deal
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
America's super-secret X-37B plane returns to Earth after nearly TWO YEARS aloft
674 days in space for US Air Force's mystery orbital vehicle
10 Top Tips For PRs Considering Whether To Phone The Register
You'll Read These And LOL Even Though They're Serious
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
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?
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.