William Hill revenues enhanced by online wagering
19 April 2013
William Hill said a strong performance in online betting helped to improve its first quarter running profits by 8%.
More sporting bets were made online than in its wagering shops, with an increasing number put through its mobile apps.
The business stated, 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 actually remained in the quarter finals because 1996.
As such, while the quantity paid out to winning bets at the Cheltenham Festival was greater, the yohaig code cash punters put on English teams to progress to the Champions League quarter finals and beyond all went 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 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 aim to increase our share and are making significant investments in marketing, innovation and individuals to attain that," he included.
On Monday, rival bookie Ladbrokes cautioned that trading had been even worse than anticipated in the first 3 months of the year.
The firm blamed a drop in benefit from the Cheltenham Festival and lower earnings from high worth bettors. It added that a high variety of cancelled conferences, since of the severe winter, had likewise impacted its results.
Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, stated: "William Hill's efficiency and prospects are in stark contrast to the problems presently being faced at Ladbrokes.
"There are, of course, headwinds, such as the yohaig code fierceness of competition in the sector and the generally pressed consumer, but these are difficulties which the entire market is facing," he included.
Ladbrokes cautions on slower trading
15 April 2013
