Operator bet365 has released its annual financial report, covering the 53-week period ending March 31, 2024.

Overall, the turnover for this period reached 3.72 billion GBP (4.66 billion USD), an increase of about 9% compared to the 3.41 billion GBP turnover in the 52-week period ending March 26, 2023.

Of this, sports and gaming accounted for the majority, reaching 3.7 billion GBP, with the remainder being football clubs and facilities, amounting to 23.8 million GBP. Both of these revenue streams grew compared to the previous year, with the former increasing by about 9% and the latter by 10.8%.

Looking at bet365's profitability, gross profit increased by 4.7%, with operating profit for 2024 at 365.7 million GBP, while there was an operating loss of 37.3 million GBP in 2023. Pre-tax profit for 2024 was 626.6 million GBP, compared to a pre-tax loss of 72.6 million GBP in 2023.

For bet365, the positive period is highlighted by a total comprehensive income of 501.2 million GBP for 2024, compared to total comprehensive expenses of 61.2 million GBP in 2023.

Worth noting: bet365 recently reported on major trends in US sports betting for 2024, including the increasing popularity of women's sports events.

bet365 CEO and founder Denise Coates's compensation significantly decreased during this period, with the highest-paid director's compensation reported at 94.7 million GBP in 2024, a decrease of 57.1%.

Today, an agreement was also reached involving the operator and Inspired Entertainment, with bet365 becoming the first company in the UK to launch the supplier's hybrid dealer roulette game.