http://www.independent.ie/business/iris ... 25127.html
Breon Corcoran
I think Corcoran has been a bloody disaster for traders
His Paddy Power background means he's emotionally tied to bookmaking as opposed to the ethics of an exchange.
I don't think its a coincidence that this appalling focus on the Sportsbook has been driven by this individual
His Paddy Power background means he's emotionally tied to bookmaking as opposed to the ethics of an exchange.
I don't think its a coincidence that this appalling focus on the Sportsbook has been driven by this individual
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steven1976
- Posts: 1744
- Joined: Tue Jan 19, 2010 6:28 am
Bit of credit where its due to him. I think their profits were up quite a bit at the last report and apparently 1.2 million active users if I remember correct from their report, which is way more than I think were using bf before he came in. I thought in the past it was only 200,000/active accounts. Also seeing more b/f adds even though I'm not in the UK which was needed.
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steven1976
- Posts: 1744
- Joined: Tue Jan 19, 2010 6:28 am
If you add 60 mil to the bottom line in making the business work better then fair play. It frees up cash to invest back into the advertising which they seem to be doing more aggressively.
Its the 1.2 mil accounts which I thought seemed a big growth. I thought in the past it was around 200,000 active accounts? If they have added a million accounts surely that is bigger than what they have made over the past 12 months as the 200,000 would have dried up. Surely taking 500 pounds off a million people a year is better than taking 5K off a much smaller group over the same period as a lot of people wont miss 500 quid but 5K they could stop.
Its the 1.2 mil accounts which I thought seemed a big growth. I thought in the past it was around 200,000 active accounts? If they have added a million accounts surely that is bigger than what they have made over the past 12 months as the 200,000 would have dried up. Surely taking 500 pounds off a million people a year is better than taking 5K off a much smaller group over the same period as a lot of people wont miss 500 quid but 5K they could stop.
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steven1976
- Posts: 1744
- Joined: Tue Jan 19, 2010 6:28 am
Note: Only guessing at these figures. They are just things that stuck out when i read it quickly. Could be wrong on the amount of active customers but Im quite sure i read 1.2 mil
Dont know where Im getting 200,000 active customers from but it seems to ring a bell but obviously its wrong. Still in active markets they have increased 200,000 customers approx.
"The number of active customers in FY14 increased by 8% to 1,129,000 (FY13: 1,046,000). The number of
active customers in sustainable markets increased significantly, up 27% to 854,000,"
Dont know where Im getting 200,000 active customers from but it seems to ring a bell but obviously its wrong. Still in active markets they have increased 200,000 customers approx.
"The number of active customers in FY14 increased by 8% to 1,129,000 (FY13: 1,046,000). The number of
active customers in sustainable markets increased significantly, up 27% to 854,000,"
I have the KPI's from a few years around and the actives would be 400-500k I remember.
Signs up will be higher because of offers, but it's difficult to work out any longer exactly what an active is.
You tend to get more information from annual reports by looking at what is missing IMHO.
Signs up will be higher because of offers, but it's difficult to work out any longer exactly what an active is.
You tend to get more information from annual reports by looking at what is missing IMHO.
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steven1976
- Posts: 1744
- Joined: Tue Jan 19, 2010 6:28 am
I agree a lot of spin which is why I was surprised by active customers and more importantly why such a big jump?
As a business since he took over I think they have done some good moves that were needed to attract new people.
I think if bf had stayed with the old crew they wouldn't have moved forward at all. I think I remember before he took over they were cutting costs by saving or cutting on advertising! He cut 500 staff and spent that money on advertising.
I think cash out was introduced under him which is probably a massive feature to attract drunk mobile users who squint through one eye to see the 2 pound profit after 20mins on a footy game to cash out their 100 quid. Also I think under him he made the mobile app easier for the pub users.
I don't agree with his package but I think as a business he has made some good desicions, even if it upsets traders with the "added liquidity" when it pleases bf.
As a business since he took over I think they have done some good moves that were needed to attract new people.
I think if bf had stayed with the old crew they wouldn't have moved forward at all. I think I remember before he took over they were cutting costs by saving or cutting on advertising! He cut 500 staff and spent that money on advertising.
I think cash out was introduced under him which is probably a massive feature to attract drunk mobile users who squint through one eye to see the 2 pound profit after 20mins on a footy game to cash out their 100 quid. Also I think under him he made the mobile app easier for the pub users.
I don't agree with his package but I think as a business he has made some good desicions, even if it upsets traders with the "added liquidity" when it pleases bf.
I'v noticed when i'm first in with small money that Betfair are adding money on top of mines.steven1976 wrote:
I don't agree with his package but I think as a business he has made some good desicions, even if it upsets traders with the "added liquidity" when it pleases bf.
I wonder who's money get's taken first?? My turn to say it.
Wankers
