German online lottery broker Lotto24 has reported that revenue for the third quarter more than doubled to €1.9m, although high marketing costs continue to negatively impact the bottom line.

The company's preliminary figures for the third quarter of 2014 show a 130 per cent year-on-year increase in billings to €20.7m, with revenue climbing 138 per cent to €1.9m.

However, the combination of higher marketing costs and relatively low revenue is expected to widen the company's loss when it publishes its official results in November.

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