william-hill-profits-boosted-by-online-betting

William Hill earnings enhanced by online wagering

19 April 2013

William Hill said a strong efficiency in online betting assisted to increase its very first quarter running profits by 8%.
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More sporting bets were made online than in its wagering stores, 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.
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It was the very first time no English football group had actually been in the quarter finals because 1996.
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As such, while the amount paid to winning bets at the Cheltenham Festival was greater, the cash punters put on English groups to progress to the yohaig code Champions League quarter finals and beyond all went into William Hill's coffers.
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The company stated it had actually also enjoyed its best-ever outcome in a Grand National, which was won by the 66-1 outsider Auroras Encore.
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"It has been an effective start to 2013 in trading terms", said president Ralph .
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"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 accomplish that," he added.
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On Monday, rival bookie Ladbrokes alerted that trading had actually been worse than expected in the first 3 months of the year.
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The company blamed a drop in make money from the Cheltenham Festival and lower profits from high worth bettors. It added that a high variety of cancelled conferences, since of the harsh winter season, had actually also impacted its results.
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Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, said: "William Hill's efficiency and potential customers remain in plain contrast to the difficulties presently being faced at Ladbrokes.

"There are, naturally, headwinds, such as the fierceness of competition in the sector and the normally pushed customer, but these are challenges which the entire market is dealing with," he included.

Ladbrokes cautions on slower trading

15 April 2013
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