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As for the sharp drop in profit, the gambling giant primarily attributes it to £320 million ($386 million) in extra 5️⃣ administration expenses, which include advertising in new markets and investment in IT infrastructure and technology. Recent launches for the brand 5️⃣ include Buenos Aires, Argentina; Colorado, US; Ontario, Canada; and the Netherlands.
The company also discussed safer gambling in its report, stating: 5️⃣ “The group is committed to delivering a safe environment for its customers and we continued to invest significantly in this 5️⃣ area.” Improvements are being made to bet365’s Early Risk Detection System (ERDS), models that allow the group to identify and 5️⃣ interact with customers at risk of, or experiencing, harm.
“Evaluation of ERDS continues to demonstrate a highly positive impact on player 5️⃣ behaviour and an increased use of gambling management tools,” said the operator, which added it continues to look forward to 5️⃣ the publication of the UK Government’s long-delayed White Paper as part of the ongoing review of the Gambling Act.
While the 5️⃣ latest financial results may be somewhat disappointing given bet365’s major scale, the company still has much to look forward to 5️⃣ in its next financial year report — especially given it will be impacted by the recent 2024 World Cup, expected 5️⃣ to boost operations.