william-hill-profits-boosted-by-online-betting

William Hill earnings increased by online wagering

19 April 2013

William Hill said a strong efficiency in online wagering assisted to improve its very first quarter operating profits by 8%.

More sporting bets were made online than in its betting shops, with an increasing number placed through its mobile apps.
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The company stated, external that although it had a poor Cheltenham Festival, it had better luck in the Champions League.
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It was the first time no English football group had actually remained in the quarter finals given that 1996.
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As such, while the quantity paid to at the Cheltenham Festival was higher, the cash punters placed on English groups to advance to the Champions League quarter finals and beyond all went into William Hill's coffers.
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The firm stated it had likewise enjoyed its best-ever lead to a Grand National, which was won by the 66-1 outsider Auroras Encore.
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"It has been a successful start to 2013 in trading terms", stated chief executive Ralph Topping.
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"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 substantial investments in marketing, innovation and individuals to achieve that," he included.
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On Monday, rival bookmaker Ladbrokes alerted that trading had actually been even worse than expected in the very first 3 months of the year.

The firm blamed a drop in profits from the Cheltenham Festival and lower revenues from high worth bettors. It added that a high variety of cancelled conferences, since of the severe winter season, had actually likewise impacted its outcomes.

Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, stated: "William Hill's performance and prospects remain in stark contrast to the difficulties currently being dealt with at Ladbrokes.

"There are, of course, headwinds, such as the fierceness of competitors in the sector and the normally pushed customer, however these are challenges which the entire market is dealing with," he added.

Ladbrokes alerts on slower trading

15 April 2013