Paddy Power have reported a 15% rise in profits for the first half of 2011, thanks mainly to their mobile sports betting division.  The bookmaker saw their pre-tax profits rise to over €57 million in the 6 month period up to the end of June.  81% of the bookmakers operating profits now come from its online and mobile betting operations. 

Mobile sports betting quadrupled to almost €160 and now represent 22% of the total sports-bet stakes.  Paddy Power attributed this success to their heavy investment in mobile betting technology, such as the Paddy Poker iPhone, iPad, Android and BlackBerry sports betting apps. ( Paddy Power iPhone App Review )

The most astonishing part of these half yearly results is that Paddy Power now command 30% of the smartphone and tablet betting market, despite only having 2% of the mature market.  35% of all online sportsbook customers at Paddy Power now transact via the Paddy Power betting apps.

Paddy Power also benefited from the acquisition of Australian bookmakers SportsBet, who reported to 5% rise in winning to €48 million.  SportsBet offer one of the few Australian iPhone sports betting apps.

The bookmaker did lose heavily on a run of punter friendly bets on major sporting events and horse races, such as the Cheltenham Festival, Royal Ascot, the Champions League Final between Manchester United and Barcelona and Rory McIlroy win at the US Open.

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