William Hill Profits Boosted By Online Betting
William Hill profits increased by online betting
19 April 2013
William Hill said a strong performance in online wagering helped to enhance its very first quarter running earnings by 8%.
More sporting bets were made online than in its wagering stores, with an increasing number put through its mobile apps.
The business said, external that although it had a poor Cheltenham Festival, it had much better luck in the Champions League.
It was the first time no English football team had been in the quarter finals since 1996.
As such, while the quantity paid 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 entered into William Hill's coffers.
The company said it had actually also enjoyed its best-ever result in 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 chief executive 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 considerable financial investments in marketing, innovation and people to accomplish that," he included.
On Monday, competing bookie Ladbrokes cautioned that trading had actually been even worse than anticipated in the first 3 months of the year.
The company blamed a drop in benefit from the Cheltenham Festival and lower revenues from high value bettors. It included that a high variety of cancelled conferences, due to the fact that of the extreme winter, had also affected its outcomes.
Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, said: "William Hill's efficiency and potential customers are in plain contrast to the problems currently being dealt with at Ladbrokes.
William Hill profits increased by online betting
19 April 2013
William Hill said a strong performance in online wagering helped to enhance its very first quarter running earnings by 8%.
More sporting bets were made online than in its wagering stores, with an increasing number put through its mobile apps.
The business said, external that although it had a poor Cheltenham Festival, it had much better luck in the Champions League.
It was the first time no English football team had been in the quarter finals since 1996.
As such, while the quantity paid 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 entered into William Hill's coffers.
The company said it had actually also enjoyed its best-ever result in 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 chief executive 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 considerable financial investments in marketing, innovation and people to accomplish that," he included.
On Monday, competing bookie Ladbrokes cautioned that trading had actually been even worse than anticipated in the first 3 months of the year.
The company blamed a drop in benefit from the Cheltenham Festival and lower revenues from high value bettors. It included that a high variety of cancelled conferences, due to the fact that of the extreme winter, had also affected its outcomes.
Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, said: "William Hill's efficiency and potential customers are in plain contrast to the problems currently being dealt with at Ladbrokes.