Betinternet is moving forward, following the good news of optimistic interims in 2006. Thanks to amazing results with the company's pari-mutuel operations - namely, European Wagering Services - the overall group turnover was up by 53% to 43.6 million. EBITDA profit reached a high of 182,000, which was a staggering change from last years loss of nearly 600,000.

European Wagering Services experienced a phenomenal year, having seen an increase in pari-mutuel turnover by 247% and a sports betting turnover of 31.8 million - an increase of 27% from the year prior. Profit margins were also helped by successfully cutting overhead costs by 17% from 1.67 in 2005 down to 1.39 million to end 2006. Considering there are still many opportunities in both markets for Betinternet to take advantage of, the company is looking forward to an even better 2007.

Of course, pending potential expansion costs and further investment, 2007 could put Betinternet back for the time being. Due to the passing of the Unlawful Internet Gambling Enforcement Act (UIGEA) in the U.S., there are now lucrative opportunities available for online pari-mutuel services. The reason being is that the UIGEA has carve outs legalizing online betting for horseracing events, not to mention fantasy sports leagues. Notwithstanding the hypocrisy of such a measure, companies like Betinternet stand to benefit greatly.

A company spokesperson recently announced that the U.S. Thoroughbred Protective Bureau had published a report on Betinternet, which is now being circulated to several American horseracing tracks. By doing so, Betinternet is hopeful they will be able to provide a broadened selection of stats and online bets to all of their patrons. The company is also hopeful to launch their first white label sports betting client in the very near future.