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IS CANBET IN TROUBLE

Canbet, the online sportsbetting, poker and casino subsidiary of Australia's International All Sports Limited (IAS) has posted a negative pre-tax result of A$6.41 million, contributing to the lacklustre performance of its parent group, which recorded a  pre-tax loss for the year of A$3.14 million.
 
“This result is deemed unacceptable by the IAS board and the group’s overseas business units are being reviewed,” the company said in a statement. "The results recorded by the international business units have negated the excellent result achieved by the Australian [facing] business.”
 
Australian horse, harness and greyhound racing comprise nearly 80 percent of the turnover for IASBet.com and it reported earnings before tax for the year of A$10.29 million. This is up on the previous year’s pre-tax result of A$6.55 million while wagering increased just over 21 percent to A$438.27 million. In addition, revenues from IASBet.com for the financial year increased over 25 percent to A$28.19 million with a margin of 6.43 percent.
 
“A win rate of 6.43 percent is an excellent result when compared to competitors and is attributable to a successful marketing drive for online recreational customers in conjunction with the promotion of higher yielding betting products,” the statement emphasised.
 
IAS said that the UK-licensed CanBet.com operation failed to generate an ‘acceptable margin’ of revenues due to software malfunctions, inexperience in product management and a new client database dominated by professional players and arbitrages, resulting in no winning margin for the first half. In the second half, this margin only increased to one percent while the third quarter prospective win rate of three percent could not be maintained over the final quarter.
 
“This tardiness in moving out of a start-up phase mode is disturbing,” concluded the statement.



Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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