William Hill profits improved 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 positioned through its mobile apps.
The company said, external that although it had a poor Cheltenham Festival, it had better luck in the Champions League.
It was the first time no English football group had been in the quarter finals since 1996.
As such, while the amount paid out to winning bets at the Cheltenham Festival was greater, the cash punters put on English groups to advance to the Champions League quarter finals and beyond all entered into William Hill's coffers.
The firm stated it had actually 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", stated primary executive Ralph Topping.
"Having grown our UK online market share from 10% to 15% over the last 4 years, we intend to increase our share and are making substantial investments in marketing, technology and people to accomplish that," he added.
On Monday, rival bookmaker Ladbrokes alerted that trading had actually been worse than expected in the very first three months of the year.
The company blamed a drop in benefit from the yohaig code Cheltenham Festival and lower earnings from high value gamblers. It added that a high variety of cancelled meetings, because of the severe winter season, had also impacted its results.
Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, stated: "William Hill's performance and prospects are in plain contrast to the troubles presently being faced at Ladbrokes.
"There are, obviously, headwinds, such as the fierceness of competitors in the sector and the generally pressed customer, but these are challenges which the entire industry is dealing with," he included.
Ladbrokes warns on slower trading
15 April 2013
