William Hill Profits Boosted By Online Betting

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William Hill revenues increased by online betting
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19 April 2013
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William Hill said a strong performance in online betting assisted to enhance its first quarter operating profits by 8%.
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More sporting bets were made online than in its wagering stores, with an increasing number positioned through its mobile apps.


The business said, external that although it had a poor Cheltenham Festival, it had much better luck in the Champions League.


It was the very first time no English football group had actually remained in the quarter finals since 1996.


As such, while the quantity paid out to winning bets at the Cheltenham was greater, the cash punters put on English teams to progress to the Champions League quarter finals and beyond all entered into William Hill's coffers.


The company stated it had actually also enjoyed its best-ever outcome in a Grand National, which was won by the 66-1 outsider Auroras Encore.
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"It has been a successful start to 2013 in trading terms", stated chief executive Ralph Topping.


"Having grown our UK online market share from 10% to 15% over the yohaig code last four years, we aim to increase our share and are making significant investments in marketing, technology and people to accomplish that," he added.
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On Monday, competing bookie Ladbrokes cautioned that trading had actually been even worse than anticipated in the very first three months of the year.


The company blamed a drop in profits from the yohaig code Cheltenham Festival and lower profits from high worth gamblers. It added that a high variety of cancelled conferences, since of the extreme winter, had actually also impacted its outcomes.


Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, stated: "William Hill's efficiency and potential customers are in plain contrast to the yohaig code difficulties presently being dealt with at Ladbrokes.


"There are, obviously, headwinds, such as the yohaig code fierceness of competitors in the sector and the yohaig code generally pushed consumer, but these are obstacles which the entire industry is dealing with," he added.
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Ladbrokes cautions on slower trading


15 April 2013
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