Probability the mobile gambling specialist has reported revenues in line with analysts’ expectations while cutting its first half loss for the 2012 financial year. Net gaming revenues jumped by 41 percent to £3,271,000 for the six month period to 30th September. Losses declined by 91 percent to just £65,000 (excluding share based payments of £23,000).

Customer cash deposits increased by 74 percent compared to the same period in 2010 and net cash and cash equivalents were up to £2.2 million on 30th September compared to £876,000 a year earlier. The company is expecting to report a profit for the financial year.

Probability said that it had seen positive results from its trial investment in TV marketing for its LadyLuck mobile casino. Growth in the iPhone and Android smart phone accounted for 50 percent of monthly revenues for the period which was up from 37 percent in the previous six months. The company also reported strong growth in the business to business with six new clients being added to its mobile gambling platform.

It also launched its new mobile bingo platform during the period which includes support for iPhone and Android, as well as slot game Loopy Lotto.

Probability’s chief executive officer, Charles Cohen, commented: "During the first half we delivered revenue growth on or ahead of target in both our consumer and business-to-business services, with revenues from the latter increasing by 84 per cent compared to the first half of FY2010,

"Our direct to consumer business has developed thanks to increased player recruitment and improved yields. In particular, we have deployed our mobile systems to great effect this year, increasing per-player deposits by 65 per cent in this six month period compared to the same period in the last financial year.”

In relation to the advertising initiatives Cohen added it represented a “real breakthrough” and offered attractive returns on investment. “Importantly, our customer research has found that the majority of the players who are attracted to our low-stakes, direct-to-mobile offering are not existing users of PC based on-line gambling and betting services. They are looking for new types of entertainment through smartphones, which for many people is now their primary means of accessing the Internet. With smartphone adoption continuing apace, this makes the opportunity very exciting indeed if we can reach it through TV.”