Bet365 Sees Revenue Growth, but Profits Decline Despite Northern Exposure

Canada Sports Betting has compiled a round-up of the latest sports betting and iGaming news from the country, along with some key events to look forward to.

NFL Wild Card Weekend is the highlight of sports betting in the coming days, with six games on the slate, including the Buffalo Bills facing off against the Pittsburgh Steelers on Sunday. The games start on Saturday afternoon and continue through to Monday night, culminating in a faceoff between the Philadelphia Eagles and the Tampa Bay Buccaneers. Canada Sports Betting advises sports enthusiasts to keep an eye on their website for more NFL content and betting previews for these games.

In other news, bet365, the leading online sports betting and gaming company in the United Kingdom, reported a 19% rise in revenue to £3.4 billion for the fiscal year ending March 26, 2023. Despite the jump in revenue, the company recorded a loss of £61.2 million due to increased administrative expenses associated with new market launches. This period saw bet365 expand its presence in several U.S. states, such as Colorado, Ohio, and Virginia, as well as Canada’s regulated iGaming market in Ontario.

Furthermore, FanDuel’s Super Bowl promotion featuring former NFL player Rob Gronkowski returns this year. Gronk will attempt a 25-yard field goal that could earn FanDuel’s U.S. customers $10 million in free bets. Canadian bettors can participate by making their predictions within the app, although the promotion will not be available to FanDuel’s Ontario customers.

Overall, Canadian sports enthusiasts and bettors have a lot to look forward to as they navigate the world of sports betting and iGaming.