Paddy Power Betfair profits double in Q1 2017

After a series of bookmaker-friendly results Paddy Power Betfair has posted impressive first quarter results, mainly attributed to its successful sportsbook division. In the three months ending 31 March, the company posted figures showing that its underlying profits jumped by 114% to £91m from £42m the year prior. Furthermore, the FTSE 100 betting group reported a 23% year-on-year increase in revenue to $416m from £339m due to bookie-favoura...