Betfair’s Mobile Betting Service Passes £1 Billion in Wagers Placed

Betfair Sportsbook recently announced that its extremely popular mobile betting service has just passed the landmark of £1 billion in wagers placed. This comes as another portion of good news after the sportsbook has already published its financial results, which were pretty optimistic indeed.

Betfair, operating in full compliance with British gambling laws, has recently appointed Raj Vemulapallo, VP of Mobile Engineering. He had the following comments: “Betfair has had an explosive year in mobile and our sights are now firmly set on reaching even greater heights in the year ahead.”

Vemulapallo went on to say: “Developing new betting methods and experiences for the increasing amount of our customers who wish to access Betfair through their mobile phones is a key priority of the business. The surge in global smartphone sales represents a significant opportunity for us, and we’re confident that our track-record of delivering cutting-edge technology for our customers will enable us to capitalise on this trend.”

Stephen Morana, current CFO of Betfair, was widely thought of as a possible successor to David Yu as CEO, however he ruled himself out of the competition for top job. Morana told online gambling news in United Kingdom: “I’ve been very clear in my take. I am very committed to Betfair. I think the best thing that I can do for Betfair is stay in what I think is a huge job as the CFO. I won’t be putting my name forward. I’m here to act as a transition between what will happen over the next period of time and driving the business forward.”

After learning the bright results of Betfair, Morana is expected to push for increase of his reported £500,000 salary. The next occupant of the CEO chair is yet to be known, however some industry insiders believe Stephen Morana still remains in the race despite his statement.