William Hill revenues boosted by online wagering

19 April 2013

William Hill stated a strong performance in online betting assisted to boost its very first quarter operating profits by 8%.

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

The business stated, external that although it had a bad 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 since 1996.

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

The firm said it had actually also 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", stated president 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 significant financial investments in marketing, technology and individuals to achieve that," he included.

On Monday, competing bookmaker Ladbrokes cautioned that trading had actually been even worse than expected in the very first three months of the year.

The firm blamed a drop in benefit from the Cheltenham Festival and lower profits from high value gamblers. It added that a high number of cancelled meetings, since of the extreme winter, had actually likewise impacted 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, naturally, headwinds, such as the yohaig code fierceness of competition in the sector and the typically pressed consumer, but these are obstacles which the entire industry is dealing with," he included.

Ladbrokes alerts on slower trading

15 April 2013