William Hill Profits Boosted By Online Betting
William Hill revenues increased by online wagering
19 April 2013
William Hill stated a strong efficiency in online wagering helped to increase its very first quarter running earnings by 8%.
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More sporting bets were made online than in its wagering stores, 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 very first time no English football group had actually been in the quarter finals considering that 1996.
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As such, while the amount paid out to winning bets at the Cheltenham Festival was higher, the cash punters put on English teams to advance to the Champions League quarter finals and beyond all entered into William Hill's coffers.
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The firm stated it had likewise enjoyed its to a Grand National, which was won by the 66-1 outsider Auroras Encore.
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"It has actually been an effective start to 2013 in trading terms", said president Ralph Topping.
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"Having grown our UK online market share from 10% to 15% over the last four years, we aim to increase our share and are making significant investments in marketing, technology and individuals to accomplish that," he added.
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On Monday, competing bookmaker Ladbrokes warned that trading had actually been worse than expected in the first 3 months of the year.
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The firm blamed a drop in profits from the yohaig code Cheltenham Festival and lower earnings from high value gamblers. It included that a high number of cancelled conferences, due to the fact that of the extreme winter, had actually also impacted its outcomes.
Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, said: "William Hill's efficiency and potential customers remain in plain contrast to the difficulties currently being faced at Ladbrokes.
"There are, naturally, headwinds, such as the fierceness of competitors in the sector and the generally pressed customer, but these are obstacles which the whole market is dealing with," he added.
Ladbrokes alerts on slower trading
15 April 2013
