William Hill Profits Boosted By Online Betting
William Hill revenues boosted by online wagering
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19 April 2013
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William Hill said a strong performance in online betting helped to enhance its very first quarter running profits by 8%.
More sporting bets were made online than in its betting shops, with an increasing number positioned 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 actually been in the quarter finals since 1996.
As such, while the amount paid out to winning bets at the Cheltenham Festival was higher, the cash punters put 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 firm stated it had actually likewise enjoyed its best-ever lead to a Grand National, which was won by the 66-1 outsider Auroras Encore.
"It has actually been a successful 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 intend to increase our share and are making considerable financial investments in marketing, technology and people to achieve that," he included.
On Monday, competing bookie Ladbrokes alerted that trading had been even worse than anticipated in the very first 3 months of the year.
The a drop in make money from the Cheltenham Festival and lower incomes from high value gamblers. It included that a high variety of cancelled meetings, due to the yohaig code fact that of the severe winter, had likewise impacted its results.
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Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, stated: "William Hill's efficiency and prospects are in stark contrast to the troubles presently being faced at Ladbrokes.
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"There are, of course, headwinds, such as the fierceness of competitors in the sector and the generally pressed consumer, however these are difficulties which the yohaig code entire industry is facing," he included.
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Ladbrokes alerts on slower trading
15 April 2013
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