Betfair Royal Ascot crop

Betfair’s mobile channel is going strong despite a fall in revenues in the first quarter, the online betting company revealed in its latest quarterly update.

In its Q1 2014 interim management statement, Betfair said: “The mobile channel continues to exhibit strong growth, with revenue up 53 percent.” Betfair delivers betting services through Java and Apache-based web, mobile and tablet platforms.

This is against a background of an overall drop in revenues in the three months to 31 July 2013 being down 13 percent from £103.8 million last year to £90.4 million this year, reflecting the company’s “continued focus on sustainable markets, the impact of regulation and absence of a major football tournament in the period”.

Breon Corcoran, Betfair’s CEO, said: “Betfair’s first quarter performance is in line with our plan and leaves us on track to meet our expectations for the full year.

“The business is continuing to show that it can compete more aggressively and efficiently in our key markets.”

Mobile is a key earner for betting companies, with rivals like Ladbrokes relaunching its mobile platform - albeit delayed - earlier this year.