Sportech bets on US success after decline of Football Pools

BOOKMAKER Sportech is determined to capitalise on the opening up of the US sports gambling market and consign its association with the Football Pools to history, after posting a loss for the first half of the year.

The company has come under pressure in recent years after struggling to offload Football Pools, the most popular method of betting on the game in the Seventies and Eighties.

Sportech has focused on the US recently, establishing a large presence in Connecticut. The New England state is expected to legalise sports betting either later this year or early next year.

With decades of experience of sports wagering, UK bookies are well-placed to make headway in what is expected to be one of the world’s largest sports gambling markets. After being outlawed in almost all US states, the Supreme Court backed a New Jersey ruling to legalise sports betting in May. The decision is expected to be a catalyst for wider liberalisation.

Sportech, which is dwarfed by gambling powerhouses such as Ladbrokes owner GVC, William Hill and Paddy Power Betfair, has concentrated its presence in Connecticut, with 16 venues. It has the potential to increase that to 24, the company said.

Speaking as Sportech posted a firsthalf pre-tax loss of £600,000, chief executive Andrew Gaughan said the Connecticut footprint was a “huge advantage” for the business. Mr Gaughan said: “We are absolutely intent on leveraging those positions to be a significant part of the sports wagering landscape in the coming two years.”

Revenue for the six months to June 2018 was £31.6m. A year ago, profit before tax was £100,000 on revenue of £31.2m.