William Hill Profits Boosted By Online Betting

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William Hill profits boosted by online betting
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19 April 2013

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

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

The company stated, 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 considering that 1996.
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As such, while the amount paid out to winning bets at the Cheltenham Festival was higher, the money punters placed on English groups to advance to the Champions League quarter finals and beyond all went into William Hill's coffers.
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The company stated it had also enjoyed its best-ever lead to 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 primary executive Ralph Topping.
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"Having grown our UK online market share from 10% to 15% over the last 4 years, we intend to increase our share and are making substantial investments in marketing, technology and individuals to achieve that," he added.
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On Monday, rival bookie Ladbrokes alerted that trading had actually been worse than expected in the very first 3 months of the year.

The company blamed a drop in make money from the and lower profits from high value gamblers. It added that a high number of cancelled conferences, since of the extreme winter, had likewise impacted its results.
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Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, said: "William Hill's performance and prospects remain in stark contrast to the problems presently being dealt with at Ladbrokes.
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"There are, naturally, headwinds, such as the fierceness of competition in the sector and the usually pressed customer, however these are challenges which the entire market is facing," he included.
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Ladbrokes cautions on slower trading

15 April 2013