William Hill earnings boosted by online betting
19 April 2013
William Hill said a strong efficiency in online wagering helped to improve its very first quarter operating revenues by 8%.
More sporting bets were made online than in its betting shops, with an increasing number positioned through its mobile apps.
The company said, external that although it had a bad 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 because 1996.
As such, while the amount paid out to winning bets at the yohaig code Cheltenham Festival was greater, the cash punters put on English groups to progress to the Champions League quarter finals and beyond all went into William Hill's coffers.
The firm said it had 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", stated president 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 considerable investments in marketing, technology and individuals to attain that," he added.
On Monday, rival bookmaker Ladbrokes alerted that trading had been even worse than expected in the yohaig code first 3 months of the year.
The firm blamed a drop in benefit from the Cheltenham Festival and lower earnings from high worth gamblers. It added that a high number of cancelled conferences, since of the severe winter, had actually also affected its outcomes.
Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, said: "William Hill's efficiency and prospects are in plain contrast to the problems presently being dealt with at Ladbrokes.
"There are, of course, headwinds, such as the fierceness of competition in the yohaig code sector and the typically pressed consumer, but these are difficulties which the entire industry is facing," he added.
Ladbrokes cautions on slower trading
15 April 2013
