William Hill profits boosted by online wagering

19 April 2013

William Hill stated a strong performance in online betting assisted to improve its very first quarter operating earnings 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 remained in the quarter finals given that 1996.

As such, while the amount paid out 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 went into William Hill's coffers.

The company stated it had also enjoyed its best-ever result in a Grand National, which was won by the 66-1 outsider Auroras Encore.

"It has 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 four years, we aim to increase our share and are making substantial financial investments in marketing, innovation and individuals to accomplish that," he added.

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

The firm blamed a drop in make money from the Cheltenham Festival and lower profits from high value gamblers. It included that a high variety of cancelled meetings, due to the yohaig code fact that of the harsh winter, had also affected its outcomes.

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 faced at Ladbrokes.

"There are, of course, headwinds, such as the fierceness of competitors in the sector and the generally pushed customer, however these are difficulties which the whole industry is dealing with," he included.

Ladbrokes cautions on slower trading

15 April 2013