William Hill profits enhanced by online wagering
19 April 2013
William Hill stated a strong performance in online wagering assisted to boost its very first quarter operating revenues by 8%.
More sporting bets were made online than in its betting stores, 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 first time no English football team had been in the quarter finals given that 1996.
As such, while the quantity paid to winning bets at the Cheltenham Festival was higher, the cash punters placed on English groups to advance to the Champions League quarter finals and beyond all entered into William Hill's coffers.
The company 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 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 substantial investments in marketing, technology and people to achieve that," he included.
On Monday, competing bookie Ladbrokes cautioned that trading had been even worse than anticipated in the very first three months of the year.
The company blamed a drop in revenues from the Cheltenham Festival and lower earnings from high value bettors. It added that a high variety of cancelled meetings, due to the fact that of the harsh winter, had actually likewise affected its outcomes.
Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, stated: "William Hill's efficiency and prospects are in plain contrast to the problems currently being dealt with at Ladbrokes.
"There are, of course, headwinds, such as the yohaig code fierceness of competitors in the sector and the typically pushed consumer, but these are obstacles which the entire market is dealing with," he added.
Ladbrokes cautions on slower trading
15 April 2013
