32Red is one of the online gambling market’s biggest success stories. This year, the company has seen significant growth, due to its focus on regulated markets, in which 32Red has received a license to operate in the country. According to iGamingBusiness, 32Red announced a 15% increase in profits during the first half of 2013. This brings the company’s year-on-year revenue up to a generous $30 million.
Over the course of the first six months of 2013, there was a 34% increase in traffic, bringing the total number of players to 42 455. “We are pleased to report another strong performance both in terms of revenue growth and in underlying profitability, which has continued into the second half of the year,” says Ed Ware, 32Red’s chief executive.
“Our strategy remains to invest in marketing to regulated markets with a constant focus on maintaining the best user experience enjoyed by new and existing players alike.” Regulated markets are those in which online gambling has been legislated. This means that international operators must obtain licenses from the local gaming authority in order to offer their services to residents.
Countries like the United Kingdom, Italy and Spain are a few of the regulated markets in the world. It seems that regulated markets are more profitable because players feel safer while gambling online. They can rest assured that they are not breaking any laws and they have the protection of the local gaming authority.
Every company that receives a license must undergo a stringent application process, in order to prove that they will treat players fairly. As such, players can wager on casino games without having to worry about pay outs or the possibility of being scammed. 32Red is on track to a successful year in the online gambling market.
The company started the second half of the financial year with a 27% increase in profits from the same period last year.
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