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Online betting giant bet365 has announced �2.8 billion ($3.4 billion) in 2024 revenue, corresponding to the financial year ended March 27, a figure that implies a 2.9% increase from the prior-year period. However, increased customer acquisition costs in new markets led to an almost 90% drop in profit, which totaled �49.8 million ($60 million) � down significantly from the �469 million ($565.8 million) profit reported in the prior-year period.

While sports betting revenue declined by 2% year-on-year, gaming revenue climbed by 25%. The decline in sports gaming revenue was margin-based, as the total amount wagered increased during the period, and the number of active customers rose by 48%.

As for the sharp drop in profit, the gambling giant primarily attributes it to �320 million ($386 million) in extra administration expenses, which include advertising in new markets and investment in IT infrastructure and technology. Recent launches for the brand include Buenos Aires, Argentina; Colorado, US; Ontario, Canada; and the Netherlands.

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Put simply, to cash out means that you can get money back on your bet at any time during the event you've bet on, not just when the event is over. The amount you get back depends on the point during the event which you cash out, and because of that, you may actually get less out than the money you initially laid down.

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Meaning of cashout in English\n\n an occasion when money is given in exchange for something that has a value, or the money itself: We used the cashout as the down payment for our next loan. In a cash out situation, the proprietors want to sell their shares to turn paper wealth into real wealth. Fewer examples.

CASHOUT | English meaning - Cambridge Dictionary

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