Online sports gambling company, SportingBet PLC, based in the UK, reported record earnings resulting in a 60.5 million pound operating profit. The parent of US bookie sportsbook.com (my first sports book account), hit an all-time high on the London Stock Exchange on the news.
I was skeptical that the margins were large enough to make a run at it in the sports book business, but SportingBet has reached a critical mass across multiple markets to make it work.
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