Sportingbet profits from popularity of smartphones

The Channel Islands-based company said the amount of customers gambling from mobiles had increased ten-fold since it launched a special iPhone application six months ago.

Some 10,000 customers now actively gamble with Sportingbet from their phones, accounting for more than 7 per cent of regular customers in its biggest markets. This growth is expected to continue as smartphones become more common.

The trend helped live betting on sporting fixtures rise 27 per cent in the quarter to October 31. Total amounts wagered increased by 11 per cent to 513.9m, while underlying profits rose 17 per cent to 11.3m, aided by growth in online gaming in Australia.

The company is benefiting from the increased availability of broadband

Earlier this month it said it had pulled out of merger talks with Sweden's Unibet but is still in talks with other parties. Analysts think it is likely to join forces with a rival.

It recently agreed to pay 21.3m to the Unites States Department of Justice for online gaming, bringing to an end a long-running legal issue that had been hanging over it and clearing the way for mergers and acquisi-tions.