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A Mobile Gambling Success

The Probability plc mobile gaming company has announced that the company is looking forward to an entirely profitable and cash positive fiscal year. Probability specifically offers mobile online casino gambling solutions for the UK mobile gaming market. The company announced its year-end results this year and was eager to note that it was turning a profit by the end of the third quarter – a serious milestone for Probability. Contributing to the positive revenues was a booming mobile online casino gambling market, lower operating losses, and increased demand for Probability’s unique range of mobile solutions.

The mobile gambling market is unique in that it doesn’t necessarily follow the same demographic of individuals involved in gambling at the online casinos. Instead, the mobile gamblers in the UK who are now making use of mobile gambling are largely individuals who previously stuck primarily to lottery and scratch card games. This is not to say online casino gamblers do not partake in mobile gambling opportunities but rather that the boom in the industry accounts for a different make up of the population – and even more importantly, the success of the mobile gambling industry does not necessarily translate into a decline in UK online gambling activity.

As for the specific year-end results with operating losses down a full 70 percent from the previous year and coming in at GBP 1.17 million, the company was able to generate cash positive results for the first time. According to the report the net gaming revenues for Probability came in at GBP 3.16 million – a 152 percent increase of the previous year’s results. The CEO at Probability, Charles Cohen, was pleased with the results and positive that the following year would continue this profitable trend for the mobile online casino games developer. He notes, "We started loss making and finished profitable, well capitalised, with improved margins and significant momentum to carry us into what we confidently expect to be our first fully profitable financial year.”