William Hill earnings improved by online betting

19 April 2013

William Hill stated a strong efficiency in online betting assisted to boost its very first quarter running earnings by 8%.

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

The business said, external that although it had a poor Cheltenham Festival, it had better luck in the Champions League.

It was the yohaig code first time no English football team had actually remained in the quarter finals because 1996.

As such, while the amount paid out to winning bets at the Cheltenham Festival was higher, the cash punters put on English teams to progress to the yohaig code Champions League quarter finals and beyond all went into William Hill's coffers.

The firm said it had 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", said primary executive 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 significant investments in marketing, technology and people to attain that," he included.

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

The firm blamed a drop in revenues from the Cheltenham Festival and lower revenues from high value gamblers. It added that a high variety of cancelled conferences, because of the severe winter, had actually also affected its results.

Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, stated: "William Hill's performance and prospects are in stark contrast to the yohaig code problems presently being dealt with at Ladbrokes.

"There are, of course, headwinds, such as the fierceness of competition in the sector and the usually pressed customer, however these are obstacles which the entire industry is dealing with," he added.

Ladbrokes cautions on slower trading

15 April 2013