William Hill earnings boosted by online wagering
19 April 2013
William Hill stated a strong efficiency in online betting assisted 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 positioned through its mobile apps.
the yohaig code company said, external that although it had a poor Cheltenham Festival, it had much better luck in the Champions League.
It was the very first time no English football group had actually been in the quarter finals given that 1996.
As such, while the quantity paid out to winning bets at the Cheltenham Festival was higher, 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 firm said it had also 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 aim to increase our share and are making considerable financial investments in marketing, innovation and individuals to achieve that," he included.
On Monday, competing bookie Ladbrokes cautioned that trading had been worse than expected in the first three months of the year.
The company blamed a drop in benefit from the Cheltenham Festival and lower incomes from high value bettors. It added that a high number of cancelled conferences, since of the extreme winter, had also affected its outcomes.
Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, stated: "William Hill's performance and prospects are in plain contrast to the difficulties currently being dealt with at Ladbrokes.
"There are, naturally, headwinds, such as the fierceness of competitors in the sector and the typically pushed consumer, but these are difficulties which the entire market is facing," he added.
Ladbrokes cautions on slower trading
15 April 2013
