William Hill earnings enhanced by online betting
19 April 2013
William Hill said a strong efficiency in online betting assisted to boost its first quarter running revenues by 8%.
More sporting bets were made online than in its wagering stores, with an increasing number put through its mobile apps.
The company stated, external that although it had a poor Cheltenham Festival, it had much better luck in the yohaig code Champions League.
It was the very first time no English football group had actually remained in the quarter finals since 1996.
As such, while the amount paid to winning bets at the Cheltenham Festival was higher, the cash punters placed on English groups to progress to the Champions League quarter finals and beyond all entered into William Hill's coffers.
the yohaig code company said it had likewise enjoyed its best-ever outcome in a Grand National, which was won by the 66-1 outsider Auroras Encore.
"It has been a successful start to 2013 in trading terms", said president Ralph Topping.
"Having grown our UK online market share from 10% to 15% over the last four years, we intend to increase our share and are making significant financial investments in marketing, innovation and individuals to attain that," he included.
On Monday, rival bookmaker Ladbrokes cautioned that trading had actually been worse than anticipated in the first 3 months of the yohaig code year.
The firm blamed a drop in earnings from the Cheltenham Festival and lower revenues from high value gamblers. It added that a high variety of cancelled conferences, due to the fact that of the severe winter, had actually likewise impacted its results.
Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, said: "William Hill's performance and potential customers are in stark contrast to the problems currently being dealt with at Ladbrokes.
"There are, naturally, headwinds, such as the fierceness of competition in the sector and the usually pushed consumer, however these are difficulties which the entire market is facing," he included.
Ladbrokes cautions on slower trading
15 April 2013
