The Growing Popularity of Online Gambling
UFA, or Ultra Finance, is the name for the German sportbooks that is owned by legendary entrepreneur Festalyn and Whitfield. The company was established in 1996 by Festalyn Ginnsheimer and Manfred von Richthof. According to sources, the company has enjoyed profitable growth despite a rocky start. Its swift establishment and steady financial performance have earned it the respect of several names in the gambling world, which also contributes to its success. In addition, the firm enjoys steady bookkeeping and performance result despite the downturn in the German economy.
UFA’s healthy budget, low debts and strong money management result enabled the sportsbook’s outlook shift, the company said. Despite its notorious and historically tainted name, the German-based UFA Cinema is an up-and-coming outfit, straightly plugged into Bertelsmann. It still retains the name “ufa,” despite dissolving its previous company, the Film House. The company released its first international game in Malta in the spring. From there, it plans to expand aggressively in different European countries, including Spain, Portugal, Greece, Italy and Russia.
The Malta outing marked the first trans-Atlantic gambling meeting for UFA, and it showed. While there were no major announcements, there was a strong financial performance, and the firm made progress in meeting financial obligations. According to sources, UFA will be making at least two more trans-Atlantic gambling appearances. Sources added that the Malta outing was the firm’s first win since its founding.
In addition to these successes, UFA expanded in the United Kingdom, while concurrently maintaining a presence in Australia, according to sources. The firm held an exhibition in Manchester, while in February it opened an office in Singapore. Both Singapore and Manchester are key markets for UFA, and it has targeted these countries as growth markets. The company has signed agreements with several bookmakers in the UK, including Ladbrokes, Coral Sports and Ladbrokes Plc. As of now, however, no casino-related gaming tables or locations have yet been announced.
The firm’s goal is to register new casinos in selected jurisdictions around the globe. However, expansion into new markets is still years away. UFA believes that the next step would be opening a sportsbook in Singapore. This move, however, is subject to approval by the Singaporean government. No new sportsbooks have been established in North America since November 2021, when UFA bought the World Series of Poker (WPT) from Playtech.
Online gambling is one of the fastest-growing industries in the world today. According to estimates, over three hundred million people from all walks of life take part in online gambling activities on a daily basis. The increasing popularity of online sportsbooks is expected to continue, given the high-quality services offered and the guaranteed payout rates. Indeed, given the recent developments by UFA, online gambling is likely to gain even more popularity in the coming years.