William Hill revenues boosted by online betting
19 April 2013
William Hill stated a strong efficiency in online betting helped to increase its very first quarter operating earnings by 8%.
More sporting bets were made online than in its betting stores, with an increasing number put through its mobile apps.
The company said, external that although it had a bad Cheltenham Festival, it had better luck in the Champions League.
It was the very first time no English football group had been in the quarter finals considering that 1996.
As such, while the amount paid to winning bets at the Cheltenham Festival was higher, 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 company said it had likewise 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 yohaig code last four years, we aim to increase our share and are making considerable financial investments in marketing, technology and individuals to attain that," he added.
On Monday, competing bookie Ladbrokes alerted that trading had been even worse than expected in the first three months of the yohaig code year.
the yohaig code company blamed a drop in make money from the Cheltenham Festival and lower incomes from high value gamblers. It added that a high number of cancelled conferences, due to the fact that of the yohaig code severe winter season, had also affected its outcomes.
Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, said: "William Hill's efficiency and potential customers are in stark contrast to the troubles presently being dealt with at Ladbrokes.
"There are, of course, headwinds, such as the fierceness of competitors in the sector and the typically pressed customer, but these are difficulties which the entire industry is dealing with," he included.
Ladbrokes warns on slower trading
15 April 2013
