William Hill earnings improved by online betting
19 April 2013
William Hill stated a strong performance in online wagering assisted to increase its first quarter running revenues by 8%.
More sporting bets were made online than in its betting stores, with an increasing number placed through its mobile apps.
The business stated, external that although it had a Festival, it had better luck in the Champions League.
It was the very first time no English football team had been in the quarter finals given that 1996.
As such, while the yohaig code quantity paid out to winning bets at the Cheltenham Festival was higher, the cash punters put on English teams to progress to the Champions League quarter finals and beyond all entered into William Hill's coffers.
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.
"It has actually been an effective 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 4 years, we aim to increase our share and are making substantial financial investments in marketing, innovation and people to achieve that," he added.
On Monday, competing bookie Ladbrokes alerted that trading had been worse than expected in the first 3 months of the year.
The company blamed a drop in make money from the Cheltenham Festival and lower incomes from high worth bettors. It included that a high variety of cancelled meetings, due to the fact that of the yohaig code severe winter, had likewise affected its outcomes.
Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, said: "William Hill's performance and potential customers are in plain contrast to the troubles currently being faced at Ladbrokes.
"There are, obviously, headwinds, such as the fierceness of competition in the sector and the usually pushed consumer, however these are challenges which the yohaig code whole market is dealing with," he included.
Ladbrokes cautions on slower trading
15 April 2013
