Sportingbet
Encyclopedia
Sportingbet plc is a British e-gaming operator. It is listed on the London Stock Exchange
and is a constituent of the FTSE SmallCap Index
.
in 1997. Sportingbet acquired Paradise Poker in October 2004. On 7 September 2006 SportingBet reported that its then chairman, Peter Dicks
, was detained in New York City on a Louisiana warrant while traveling in the United States on business unrelated to online gaming. Louisiana is one of the few states that has a specific law prohibiting gambling online. In March 2007, all Louisiana warrants involving the company were cancelled.
In October 2006, Sportingbet announced Paradise Poker would stop taking deposits from US customers, although most would be allowed to continue to play for another month. Additionally, Sportingbet sold all its US-facing sportsbetting and casino businesses, including Sportsbook.com
and Sports.com, to a group of private investors for $1, and an assumption of $13.2 million in debts.
In February 2007, Sportingbet announced it was eliminating its Paradise Poker software and migrating players from there to its Sportingbet Poker platform. Prior to this, the two platforms had approximately the same number of players, but the Sportingbet platform had higher liquidity because that platform was part of a larger network. The brand name of Paradise Poker was retained.
s, virtual games and casino
sites, and the online poker
cardroom, Paradise Poker. Overall, the company has over 2.5 million registered customers in 200 countries, who place over one million bets (casino, poker, sports and virtual games) per day.
Sportingbet operates several websites. The largest of these are wholly owned and operated by Sportingbet. They also use a system similar to a franchise
, in which independent website operators use Sportingbet's centralized software, financial services, grading, and customer service under license. These web sites receive a cut of the profits their customers generate.
Sportingbet's corporate offices are located in Guernsey
. They also have offices and call centres in the Republic of Ireland
, Costa Rica
, and Australia
. The PLC is located in Moorgate, London.
since the 2009–10 season, in a deal lasting until 2013. This link-up with a football club first began in January 2009, when Bulgarian football club Slavia Sofia announced a 3-year sponsoring deal. As a result, the logo of the company will appear on the club's shirts for the 2008–09, 2009–10 and 2010–11 seasons of the Bulgarian A PFG. Sportingbet will also sponsor Steaua Bucuresti of Romania for the 2009–10 and 2010–11 season. Their logo will also appear on Steaua Bucuresti II
, Steaua's reserve team's shirt, which now plays in Liga. Sportingbet have also sponsored division 1 victorian amateur football team BanyuleFC for the 2010- 2011 seasons.II.
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
and is a constituent of the FTSE SmallCap Index
FTSE SmallCap Index
The FTSE SmallCap Index is an index of small market capitalization companies consisting of the 351st to the 619th largest listed companies on the London Stock Exchange main market...
.
History
The Company was founded by Mark BlandfordMark Blandford (Entrepreneur)
Mark Blandford is the founder of Sportingbet plc, at one time the world's largest bookmaking operation and a pioneer in online gambling. Blandford is also the former Chairman and CEO.-Sportingbet:...
in 1997. Sportingbet acquired Paradise Poker in October 2004. On 7 September 2006 SportingBet reported that its then chairman, Peter Dicks
Peter Dicks
Peter F. Dicks is a London-based investment manager and venture capitalist. He was the co-founder of Abingworth plc, one of the earlier venture capital funds in Europe. He is also the former chairman of Sportingbet PLC, one of the world's largest sportsbooks.Early in his career, Dicks was a...
, was detained in New York City on a Louisiana warrant while traveling in the United States on business unrelated to online gaming. Louisiana is one of the few states that has a specific law prohibiting gambling online. In March 2007, all Louisiana warrants involving the company were cancelled.
In October 2006, Sportingbet announced Paradise Poker would stop taking deposits from US customers, although most would be allowed to continue to play for another month. Additionally, Sportingbet sold all its US-facing sportsbetting and casino businesses, including Sportsbook.com
Sportsbook.com
Sportsbook.com is a privately held online gaming firm, featuring sports betting, online poker, casino games and horse race betting that caters to the U.S...
and Sports.com, to a group of private investors for $1, and an assumption of $13.2 million in debts.
In February 2007, Sportingbet announced it was eliminating its Paradise Poker software and migrating players from there to its Sportingbet Poker platform. Prior to this, the two platforms had approximately the same number of players, but the Sportingbet platform had higher liquidity because that platform was part of a larger network. The brand name of Paradise Poker was retained.
Operations
Sportingbet operates local-focused sportsbookSportsbook
In the United States a sportsbook or a race and sports book is a place where a gambler can wager on various sports competitions, including golf, football, basketball, baseball, hockey, soccer, horse racing, boxing, and mixed martial arts. The method of betting varies with the sport and the type of...
s, virtual games and casino
Casino
In modern English, a casino is a facility which houses and accommodates certain types of gambling activities. Casinos are most commonly built near or combined with hotels, restaurants, retail shopping, cruise ships or other tourist attractions...
sites, and the online poker
Online poker
Online poker is the game of poker played over the Internet. It has been partly responsible for a dramatic increase in the number of poker players worldwide...
cardroom, Paradise Poker. Overall, the company has over 2.5 million registered customers in 200 countries, who place over one million bets (casino, poker, sports and virtual games) per day.
Sportingbet operates several websites. The largest of these are wholly owned and operated by Sportingbet. They also use a system similar to a franchise
Franchising
Franchising is the practice of using another firm's successful business model. The word 'franchise' is of anglo-French derivation - from franc- meaning free, and is used both as a noun and as a verb....
, in which independent website operators use Sportingbet's centralized software, financial services, grading, and customer service under license. These web sites receive a cut of the profits their customers generate.
Sportingbet's corporate offices are located in Guernsey
Guernsey
Guernsey, officially the Bailiwick of Guernsey is a British Crown dependency in the English Channel off the coast of Normandy.The Bailiwick, as a governing entity, embraces not only all 10 parishes on the Island of Guernsey, but also the islands of Herm, Jethou, Burhou, and Lihou and their islet...
. They also have offices and call centres in the Republic of Ireland
Republic of Ireland
Ireland , described as the Republic of Ireland , is a sovereign state in Europe occupying approximately five-sixths of the island of the same name. Its capital is Dublin. Ireland, which had a population of 4.58 million in 2011, is a constitutional republic governed as a parliamentary democracy,...
, Costa Rica
Costa Rica
Costa Rica , officially the Republic of Costa Rica is a multilingual, multiethnic and multicultural country in Central America, bordered by Nicaragua to the north, Panama to the southeast, the Pacific Ocean to the west and the Caribbean Sea to the east....
, and Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
. The PLC is located in Moorgate, London.
Sponsorship
The company have sponsored Premier League football team Wolverhampton WanderersWolverhampton Wanderers F.C.
Wolverhampton Wanderers Football Club is an English professional association football club that represents the city of Wolverhampton in the West Midlands region. They are members of the Premier League, the highest level of English football. The club was founded in 1877 and since 1889 has played at...
since the 2009–10 season, in a deal lasting until 2013. This link-up with a football club first began in January 2009, when Bulgarian football club Slavia Sofia announced a 3-year sponsoring deal. As a result, the logo of the company will appear on the club's shirts for the 2008–09, 2009–10 and 2010–11 seasons of the Bulgarian A PFG. Sportingbet will also sponsor Steaua Bucuresti of Romania for the 2009–10 and 2010–11 season. Their logo will also appear on Steaua Bucuresti II
FC Steaua II Bucuresti
FC Steaua II Bucureşti was a Romanian professional football club from Bucharest, Romania, founded in 2004 and dissolved in 2011. It was the reserve team of Steaua Bucureşti.-Honours:Liga III:*Winners : 2008-09...
, Steaua's reserve team's shirt, which now plays in Liga. Sportingbet have also sponsored division 1 victorian amateur football team BanyuleFC for the 2010- 2011 seasons.II.