William Hill Profits Boosted By Online Betting
William Hill earnings increased by online betting
19 April 2013
William Hill stated a strong efficiency in online betting helped to increase its first quarter operating earnings by 8%.
More sporting bets were made online than in its wagering stores, with an increasing number put through its mobile apps.
The company said, external that although it had a poor Cheltenham Festival, it had better luck in the Champions League.
It was the very first time no English football group 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 placed on English teams to progress to the Champions League quarter finals and beyond all went into William Hill's coffers.
The firm stated it had actually likewise enjoyed its best-ever outcome in 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 chief 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 investments in marketing, innovation and people to achieve that," he included.
On Monday, competing bookmaker Ladbrokes alerted that trading had been even worse than anticipated in the first 3 months of the year.
The company blamed a drop in earnings from the Cheltenham Festival and lower profits from high value bettors. It added that a high number of cancelled conferences, due to the fact that of the harsh winter, had likewise impacted its results.
Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, stated: "William Hill's performance and potential customers remain in plain contrast to the difficulties presently being faced at Ladbrokes.
William Hill earnings increased by online betting
19 April 2013
William Hill stated a strong efficiency in online betting helped to increase its first quarter operating earnings by 8%.
More sporting bets were made online than in its wagering stores, with an increasing number put through its mobile apps.
The company said, external that although it had a poor Cheltenham Festival, it had better luck in the Champions League.
It was the very first time no English football group 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 placed on English teams to progress to the Champions League quarter finals and beyond all went into William Hill's coffers.
The firm stated it had actually likewise enjoyed its best-ever outcome in 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 chief 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 investments in marketing, innovation and people to achieve that," he included.
On Monday, competing bookmaker Ladbrokes alerted that trading had been even worse than anticipated in the first 3 months of the year.
The company blamed a drop in earnings from the Cheltenham Festival and lower profits from high value bettors. It added that a high number of cancelled conferences, due to the fact that of the harsh winter, had likewise impacted its results.
Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, stated: "William Hill's performance and potential customers remain in plain contrast to the difficulties presently being faced at Ladbrokes.