William Hill Profits Boosted By Online Betting
William Hill profits increased by online betting
19 April 2013
William Hill stated a strong efficiency in online wagering helped to improve its very first quarter running earnings by 8%.
More sporting bets were made online than in its wagering stores, with an increasing number positioned through its mobile apps.
The company stated, external that although it had a bad Cheltenham Festival, it had much better luck in the Champions League.
It was the very first time no English football team had remained in the quarter finals since 1996.
As such, while the quantity paid to winning bets at the Cheltenham Festival was greater, the money punters positioned on English teams to progress to the Champions League quarter finals and beyond all went into William Hill's coffers.
The company said it had also enjoyed its best-ever result 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 aim to increase our share and are making significant financial investments in marketing, innovation and people to attain that," he added.
On Monday, rival bookmaker Ladbrokes alerted that trading had been worse than expected in the very first 3 months of the year.
The firm blamed a drop in profits from the Cheltenham Festival and lower profits from high worth gamblers. It included that a high variety of cancelled meetings, due to the fact that of the extreme winter, had likewise affected its results.
Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, stated: "William Hill's efficiency and prospects remain in stark contrast to the troubles presently being faced at Ladbrokes.
William Hill profits increased by online betting
19 April 2013
William Hill stated a strong efficiency in online wagering helped to improve its very first quarter running earnings by 8%.
More sporting bets were made online than in its wagering stores, with an increasing number positioned through its mobile apps.
The company stated, external that although it had a bad Cheltenham Festival, it had much better luck in the Champions League.
It was the very first time no English football team had remained in the quarter finals since 1996.
As such, while the quantity paid to winning bets at the Cheltenham Festival was greater, the money punters positioned on English teams to progress to the Champions League quarter finals and beyond all went into William Hill's coffers.
The company said it had also enjoyed its best-ever result 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 aim to increase our share and are making significant financial investments in marketing, innovation and people to attain that," he added.
On Monday, rival bookmaker Ladbrokes alerted that trading had been worse than expected in the very first 3 months of the year.
The firm blamed a drop in profits from the Cheltenham Festival and lower profits from high worth gamblers. It included that a high variety of cancelled meetings, due to the fact that of the extreme winter, had likewise affected its results.
Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, stated: "William Hill's efficiency and prospects remain in stark contrast to the troubles presently being faced at Ladbrokes.