Poland’s Betfan turns profit in third year of business
Betfan has reported sales of €77m and a profit of €760,000 for 2021.
Poland.- The bookmaker Betfan has reported its results for 2021, with sales of €77m and a profit of €760,000.
It’s the first year the company has turned a profit since its launch in April 2019. Sales were up 90 per cent year-on-year, with its customer base growing 85 per cent after its entry into new markets.
Betfan co-owner and chairman Łukasz Łazarewicz said: “When we started our business three years ago, we had very ambitious plans and we have been consistently pursuing our objectives ever since.
“We benefit from the fact that the betting market grew by around 50 per cent last year and this year it is expected to grow by between 15 per cent and 20 per cent.
“However, Betfan has been growing much faster than the industry itself and we will aim to maintain this trend in the coming years as well. At the same time, we have a strong advantage in terms of business efficiency and cost effectiveness.”
Łazarewicz added that Betfan had been careful to watch its costs, something that helped it turn a profit in record time for a Polish betting operation.
He said: “It is not that difficult to pour huge amounts of money into marketing and sponsoring to boost sales while still losing on the deal. And this is exactly what happens on the Polish market. We have a completely different strategy – we plan expenditures very carefully and we only use measurable marketing tools with an adequate rate of return. We also place great emphasis on technological development.
“Our strategy has always been focused on the mobile segment, which is becoming increasingly important and is driving the majority of our sales. This approach currently places us among the main players on the bookmaking market, even though we are competing with many brands that have a longer track record and much more capital than we do.”
Betfan expects to see double-digit revenue growth again this year following the launch of its new mobile app and new self-service betting terminals. Profit is also expected to increase on the results of investments in the retail sector made last year.
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