http://otp.investis.com/clients/uk/padd ... sid=776267
The only mentions of the exchange I can find are: -
Risk and trading
Paddy Power has historically developed a wide range of proprietary sportsbook pricing and risk management tools. The sharing of these pricing models, combined with the greater volume of bets taken across the combined operations and the use of the Betfair exchange, will improve the accuracy of our price formation.
This also facilitates additional markets on our sportsbooks. For example, a significantly improved tennis offering is already available on the Betfair sportsbook.
Exchange pricing will also be used to enhance our sportsbooks, including increasing the availability of Cash Out offers to customers when a sportsbook price is unavailable (e.g. when the market is suspended following a goal), and providing pricing information for markets that are otherwise difficult to price, such as in-running horseracing. The exchange also provides a low-cost way of hedging unwanted exposures.
Our customer risk management capability is also being enhanced through the sharing of data, models and processes between our brands.
Sports revenue increased by 21% to £316m. This was comprised of a 20% increase in sportsbook stakes, improved year-on-year sports results and 3% growth in exchange and B2B revenues. Mobile continues to be the key driver of sportsbook growth, representing 76% of revenues in the period.
We continue to launch innovative new betting features such as Paddy Power's 'Kicker', which suggests an additional bet to football customers on the bet slip, giving them the chance to earn an escalating pay-out based on their backed team's margin of victory. We are also making incremental improvements to our exchange product, for example in July, ahead of The Open, we added each-way betting on Golf.
Our marketing is focussed on highlighting our new product releases and also on maximising our exposure around key events such as Euro 2016 and the Brexit vote. Paddy Power's 'Vive La Bantz' Euro 2016 TV ad rounded up a host of Scottish 'icons', created some cross border tension and was voted 'Best Euros Advert' by a leading UK marketing magazine. Betfair used the exchange's transparency and liquidity (with £127m traded) to generate the highest Brexit-related PR coverage in the industry, over the campaign.
Betfair 2016 interim results
As u say, v depressing.
Priorities have been sportsbook, and despite what account managers say, I dont believe going forward, its going to be much different.
I really think, advantage gamblers, have to have alternatives.
Priorities have been sportsbook, and despite what account managers say, I dont believe going forward, its going to be much different.
I really think, advantage gamblers, have to have alternatives.