iGaming Business – UK bookmaker Betfred has agreed to become a sponsor of the Grand National Festival UK horseracing event. The three-year deal will run from 2014 through to 2017, according to The Drum website. Betfred will sponsor three races at the Festival, which is held at Aintree Racecourse on an annual basis. The races included in the deal comprise the Betfred Bowl Steeple Chase on opening day, the Betfred Mobile Mildmay Novices’ Steeple Chase on Ladies Day and the Betfred TV Handicap Steeple Chase on Grand National Day. John Baker, Aintree and north-west regional director for Jockey Club Racecourses,…

Irish Times – Strong growth in bookmaker Paddy Power’s Australian business compensated for a tougher time nearer home and played a key role in increasing its profits by 1 per cent to a record €141 million last year. Paddy Power yesterday reported an increase in net revenue in 2013 to €745 million from €663 million the previous year and said that pretax profit was up 1 per cent at €141 million from €139.2 million. Operating profit grew at a similar rate to €137.4 million in 2013 from €136 million in 2012. However, “adverse results”, including a large number of fancied…

iGaming Business – The UK’s Advertising Standards Authority (ASA) has launched a formal investigation into an advert from bookmaker Paddy Power that offered betting odds on the outcome of the ongoing murder trial of Paralympic athlete Oscar Pistorius. The athlete is currently on trial in South Africa accused of the murder of his girlfriend, Reeva Steenkamp, in February 2013. Paddy Power is offering people the chance to bet on the outcome of the trial, with the advert in question featuring an offer for those who place a bet. The advert appeared in national press, as well as on Paddy Power’s…

North Jersey – As Fort Lauderdale sports law attorney Daniel L. Wallach has spotted, the U.S. Supreme Court last week filed an order extending the time to file responses in the potential landmark sports betting case from March 17 until April 21. Wallach notes that the extension could mean no resolution before the end of the June term, so backers – and opponents – may need to be patient. The extension happens to come the day after Easter, so the last workweek day before the deadline is Good Friday. I wonder if that will mean a quicker filing so that…

Telegraph – William Hill, Britain’s biggest bookmaker, celebrates its 80th anniversary this year and it’s worth reflecting on how the business has changed. The company used the anniversary of Ralph Topping’s six years as chief executive on Friday to highlight progression during his tenure, from a predominantly UK-focused business, reliant on high street betting shops for 80pc of its revenue and profit, to one which now generates 48pc of its operating profit from its online and Australian operations. The former was built in partnership with software group Playtech – now no longer a partner – while William Hill bought Sportingbet’s…

iGaming Business – Irish bookmaker Paddy Power has cited the growth of its online gambling business as the reason behind a jump in revenue, operating profit and EBITDA during the 12 months through to December 31, 2013. In its preliminary results for the year, the company posted net revenue of €745.2 million, an increase of 17% on the €662.7 million achieved in the previous year. Operating profit also grew slightly from €136 million in 2012 to €137.4 million in the last 12 months, whilst EBITDA also jumped 8% from €168.2 million to 176.9 million. The company highlighted the success of…