William Hill Profits Boosted By Online Betting
William Hill earnings improved by online betting
19 April 2013
William Hill said a strong performance in online wagering helped to improve its first quarter operating earnings by 8%.
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More sporting bets were made online than in its wagering shops, with an increasing number put through its mobile apps.
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The company said, 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 team had actually remained in the quarter finals since 1996.
As such, while the quantity paid 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 actually likewise enjoyed its best-ever lead to a Grand National, which was won by the 66-1 outsider Auroras Encore.
"It has been an effective start to 2013 in trading terms", stated president 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 considerable investments in marketing, innovation and people to attain that," he added.
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On Monday, competing bookie Ladbrokes alerted that trading had been even worse than anticipated in the very first 3 months of the year.
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the yohaig code company blamed a drop in benefit from the Cheltenham Festival and lower earnings from high value bettors. It included that a high number of cancelled conferences, since of the severe winter, had actually also impacted its outcomes.
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Hunter, head of equities at Hargreaves Lansdown Stockbrokers, stated: "William Hill's performance and prospects are in stark contrast to the difficulties currently being faced at Ladbrokes.
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"There are, obviously, headwinds, such as the fierceness of competition in the sector and the normally pushed consumer, but these are challenges which the whole market is dealing with," he included.
Ladbrokes cautions on slower trading
15 April 2013
