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William Hill profits increased by online betting

19 April 2013

William Hill said a strong efficiency in online betting helped to increase its very first quarter operating revenues by 8%.

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

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

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

As such, while the quantity paid to winning bets at the Cheltenham Festival was higher, the cash punters positioned on English groups to progress to the Champions League quarter finals and beyond all went into William Hill's coffers.

The company stated it had likewise enjoyed its best-ever outcome in a Grand National, which was won by the 66-1 outsider Auroras Encore.

"It has actually been a successful 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 significant investments in marketing, innovation and individuals to attain that," he added.

On Monday, rival bookie Ladbrokes cautioned that trading had been worse than anticipated in the very first 3 months of the year.

The company blamed a drop in make money from the Cheltenham Festival and from high worth gamblers. It added that a high number of cancelled conferences, since of the harsh winter, had actually also affected its results.

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

"There are, obviously, headwinds, such as the fierceness of competitors in the sector and the generally pressed customer, however these are obstacles which the whole market is dealing with," he included.

Ladbrokes warns on slower trading

15 April 2013