William Hill Profits Boosted By Online Betting
William Hill profits increased by online betting
19 April 2013
William Hill said a strong performance in online wagering helped to boost its first quarter running revenues by 8%.
More sporting bets were made online than in its betting stores, with an increasing number positioned through its mobile apps.
The business said, external that although it had a poor Cheltenham Festival, it had much better luck in the Champions League.
It was the first time no English football team had remained in the quarter finals considering that 1996.
As such, while the quantity paid to winning bets at the Cheltenham Festival was higher, the cash punters put on English groups to advance to the Champions League quarter finals and beyond all went into William Hill's coffers.
The firm said it had actually also enjoyed its best-ever lead to a Grand National, which was won by the 66-1 outsider Auroras Encore.
"It has actually been a successful start to 2013 in trading terms", said primary executive Ralph Topping.
"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 substantial financial investments in marketing, technology and people to attain that," he included.
On Monday, competing bookie Ladbrokes cautioned that trading had actually been even 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 profits from high worth gamblers. It added that a high variety of cancelled meetings, due to the fact that of the severe winter, had also affected its results.
Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, stated: "William Hill's performance and prospects remain in stark contrast to the troubles presently being dealt with at Ladbrokes.
William Hill profits increased by online betting
19 April 2013
William Hill said a strong performance in online wagering helped to boost its first quarter running revenues by 8%.
More sporting bets were made online than in its betting stores, with an increasing number positioned through its mobile apps.
The business said, external that although it had a poor Cheltenham Festival, it had much better luck in the Champions League.
It was the first time no English football team had remained in the quarter finals considering that 1996.
As such, while the quantity paid to winning bets at the Cheltenham Festival was higher, the cash punters put on English groups to advance to the Champions League quarter finals and beyond all went into William Hill's coffers.
The firm said it had actually also enjoyed its best-ever lead to a Grand National, which was won by the 66-1 outsider Auroras Encore.
"It has actually been a successful start to 2013 in trading terms", said primary executive Ralph Topping.
"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 substantial financial investments in marketing, technology and people to attain that," he included.
On Monday, competing bookie Ladbrokes cautioned that trading had actually been even 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 profits from high worth gamblers. It added that a high variety of cancelled meetings, due to the fact that of the severe winter, had also affected its results.
Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, stated: "William Hill's performance and prospects remain in stark contrast to the troubles presently being dealt with at Ladbrokes.