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William Hill profits increased by online betting

19 April 2013

William Hill stated a strong performance in online betting assisted to enhance its first quarter running earnings by 8%.

More sporting bets were made online than in its betting shops, with an increasing number put 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 team had been in the quarter finals given that 1996.

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

the yohaig code company said it had also enjoyed its 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 primary executive Ralph Topping.

"Having grown our UK online market share from 10% to 15% over the last four years, we aim to increase our share and are making considerable financial investments in marketing, technology and individuals to accomplish that," he added.

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

The firm blamed a drop in benefit from the Cheltenham Festival and lower profits from high worth bettors. It added that a high number of cancelled meetings, because of the severe winter season, had also impacted its results.

Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, said: "William Hill's performance and potential customers are in stark contrast to the troubles currently being faced at Ladbrokes.

"There are, obviously, headwinds, such as the fierceness of competition in the sector and the typically pushed consumer, however these are obstacles which the entire market is dealing with," he added.

Ladbrokes cautions on slower trading

15 April 2013