William Hill earnings enhanced by online betting
19 April 2013
William Hill said a strong efficiency in online betting assisted to boost its very first quarter running revenues 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 yohaig code Champions League.
It was the very first time no English football team had actually remained in the quarter finals because 1996.
As such, while the quantity 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.
The firm stated it had actually likewise 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 intend to increase our share and are making substantial financial investments in marketing, technology and people to achieve that," he added.
On Monday, competing bookie Ladbrokes warned that trading had been even worse than anticipated in the first three months of the year.
The company blamed a drop in benefit from the Cheltenham Festival and lower profits from high worth bettors. It added that a high variety of cancelled meetings, because of the harsh winter, had actually also affected its results.
Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, stated: "William Hill's performance and potential customers are in stark contrast to the problems presently being faced at Ladbrokes.
"There are, obviously, headwinds, such as the fierceness of competition in the sector and the generally pushed consumer, however these are challenges which the entire industry is dealing with," he added.
Ladbrokes alerts on slower trading
15 April 2013
