After three years of operation, the Polish bookmaker Betfan posted that its sales were up 90% from 2020 and that, for the first time since launching in April 2019, it had turned a profit.
Betfan’s meteoric rise in popularity comes after the group expanded its markets by 20% and saw an 85% year on year increase in customers.
According to Betfan’s co-owner and chairman Lukasz Lazerewicz, when the business was started three years ago, there were very ambitious plans in place, and management has been consistently pursuing those objectives ever since.
“We benefit from the fact that the betting market has grown by around 50% last year, and this year it is expected to grow by between 15% and 20%,” he added.
The chairman pointed out that Betfan has grown much faster than the industry itself and that he hopes to maintain this trend in the coming years.
“At the same time, we have a strong advantage in terms of business efficiency and cost effectiveness,” he said.
Betfan continues to remain focused on the mobile segment, which drives most of its sales.
This approach, says Lazerewicz, places Betfan among the main players in the sports betting market, even though it is competing with brands that have a longer track record and more capital.
Betfan expects to record double digit revenue growth in 2022. The company recently launched a new mobile app and invested in a network of self-service betting terminals.
