william-hill-profits-boosted-by-online-betting

William Hill revenues improved by online betting

19 April 2013
bit.ly
William Hill said a strong efficiency in online betting helped to boost its first quarter running profits by 8%.

More sporting bets were made online than in its wagering shops, with an increasing number placed through its mobile apps.
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The business said, external that although it had a poor Cheltenham Festival, it had better luck in the Champions League.
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It was the very first time no English football team had actually been in the quarter finals because 1996.

As such, while the quantity paid out to winning bets at the Cheltenham Festival was greater, the cash punters put on English groups to progress to the Champions League finals and beyond all entered into William Hill's coffers.
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The firm said it had also enjoyed its best-ever lead to a Grand National, which was won by the 66-1 outsider Auroras Encore.
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"It has 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 significant financial investments in marketing, innovation and individuals to achieve that," he added.

On Monday, competing bookie Ladbrokes warned that trading had been worse than anticipated in the first three months of the year.
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The firm blamed a drop in benefit from the Cheltenham Festival and lower profits from high worth gamblers. It added that a high variety of cancelled conferences, because of the extreme winter season, had actually likewise affected its outcomes.
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Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, stated: "William Hill's efficiency and prospects remain in stark contrast to the problems currently being dealt with at Ladbrokes.
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"There are, of course, headwinds, such as the fierceness of competitors in the sector and the generally pressed consumer, but these are difficulties which the entire market is dealing with," he added.

Ladbrokes warns on slower trading

15 April 2013