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William Hill Profits Boosted By Online Betting

William Hill revenues improved by online wagering

19 April 2013

William Hill said a strong efficiency in online wagering helped to boost its first quarter operating profits by 8%.

More sporting bets were made online than in its wagering shops, with an increasing number placed through its mobile apps.

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

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

As such, while the amount paid to winning bets at the Cheltenham Festival was higher, the money punters put on groups to advance to the Champions League quarter finals and beyond all entered into William Hill’s coffers.

the yohaig code firm stated it had likewise enjoyed its best-ever result in a Grand National, which was won by the 66-1 outsider Auroras Encore.

“It has actually been an effective start to 2013 in trading terms”, said president Ralph Topping.

“Having grown our UK online market share from 10% to 15% over the last four years, we intend to increase our share and are making considerable investments in marketing, technology and individuals to attain that,” he included.

On Monday, rival bookmaker Ladbrokes warned that trading had been even worse than expected in the very first 3 months of the year.

The company blamed a drop in profits from the Cheltenham Festival and lower earnings from high worth bettors. It added that a high variety of cancelled meetings, since of the extreme winter season, had also impacted its outcomes.

Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, stated: “William Hill’s efficiency and prospects are in plain contrast to the problems currently being dealt with at Ladbrokes.

“There are, obviously, headwinds, such as the fierceness of competitors in the yohaig code sector and the typically pressed customer, but these are challenges which the entire industry is dealing with,” he added.

Ladbrokes warns on slower trading

15 April 2013