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German lottery firm's move into sportsbetting doing well
Jaxx AG, the German lottery firm that moved into the sportssbetting field two years ago, published positive results for June this week, showing record levels in profits and customer acquisition for the month, mainly from its sportsbetting activities.
The firm runs lotteries and has betting offices in Altenholz near Kiel, and reports that its success was aided by betting action on the Euro2008 football championships and the Deutsches Derby flat racing event in Hamburg, which yielded consolidated revenues of over Euro 10 million in June 2008.
“We benefited particularly by avoiding one particularly dreaded scenario, the favourites did not win either the European Championships or the Derby, and this enabled us to post a healthy profit,” said Stefan Hanel, the Finance Director of the company.
Jaxx bookmaking margins were well above the industry average because the overwhelming portion of its betting business is now generated outside of Germany and that country's restrictive gambling controls under the controversial State Treaty on Gaming. The Treaty does not apply to horse betting but Jaxx stated that it is gradually achieving greater independence from the German lottery market by the successful expansion of its betting business.
Net betting incomes were good in a company that has not previously generated gross profits of more than Euro 1.96 million in a single month from betting products. Carefully planned advertising had also succeeded in pushing new customer signups to higher levels, a company spokesman said.
Gambling News :
Oink Country Love Slot Launches -
Oink Country Love will have players tapping their feet to the country beat with the lovable Oink Bros, Willy and Chancho, who are trying to win over the heart of Miss Southern Charm in this five by three reel, 45-line online slot.
Tim Chung Wins MPNPT Manchester -
The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.
MPNPT Manchester Day 2 -
Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.
Day 1B MPN Poker Tour Manchester -
Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.
Sensational Sixes Slot Goes Live -
Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!
3 New Betsoft Slots -
3 new Betsoft slot Games were also added this week to most online casinos allowing US players.
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
Pokerstars Pulls Out Of Coloumbia -
Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.
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