William Hill revenues improved by online betting

19 April 2013

William Hill said a strong performance in online wagering helped to enhance its very first quarter running profits by 8%.

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

The business stated, 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 actually remained in the quarter finals considering that 1996.

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

The firm said it had actually likewise enjoyed its best-ever result in a Grand National, which was won by the 66-1 outsider Auroras Encore.

"It has been a successful 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 intend to increase our share and are making significant investments in marketing, technology and people to attain that," he added.

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

The company blamed a drop in benefit from the Cheltenham Festival and lower incomes from high worth bettors. It added that a high variety of cancelled conferences, due to the fact that of the extreme winter season, had likewise affected its results.

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

"There are, of course, headwinds, such as the fierceness of competition in the sector and the usually pressed consumer, however these are challenges which the entire market is facing," he added.

Ladbrokes warns on slower trading

15 April 2013