Betcorp, the online sports betting operator has released half yearly figures that are more than double its first quarter earnings - US$3.6 million its latest net profit margin (total betting revenue up 58% to US$287m for the period).

Betcorp Limited (“Betcorp”) is an Australian public company and is currently the fourth largest wagering company by turnover listed on the Australian Stock Exchange (ASX:BCL). The Company changed its name in 2003 from Consolidated Gaming Corporation (‘’CGC’’) to Betcorp as part of a significant restructuring of its operations that included the acquisition of World Wide Tele-Sports (WWTS), a north American focussed operator of online sportsbooks. In early 2005, the Company acquired Sinsational Intertainment Inc an online sports betting and casino operator based in Antigua.

According to their website, the Betcorp management team was restructured in late 2004 and the new team is re-aligning the Group into a broadly based online gaming and entertainment operator, offering a comprehensive range of betting and gaming products to a wider geographical audience through the provision of new betting options in several languages and currencies.

New betting options and products include a wider range of sports for the global market, new casino games, poker and other card games relevant to an adult gaming audience, and games of skill suitable for single player or multi player activity.

It is the objective of the Group to appeal to a wide range of recreational clients and to expand the revenue base into less volatile and less seasonal gaming products. Income will be generated both by the traditional acceptance of bets as in sports and casino betting and from participation fees from poker, bingo and games of skill where the Group carries no risk.

Why am I telling you all this given that the company appeals to an audience wider than thoroughbreds ?

Well, it's always important to keep an eye on what the wider market is doing, particularly when gambling forms such an integral part of the thoroughbred racing equation.