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William Hill profits boosted by online betting
19 April 2013
William Hill stated a strong efficiency in online wagering assisted to enhance its very first quarter running profits by 8%.
More sporting bets were made online than in its betting stores, with an increasing number positioned through its mobile apps.
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The company said, external that although it had a poor Cheltenham Festival, it had better luck in the Champions League.
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It was the very first time no English football team had actually been in the quarter finals because 1996.
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As such, while the quantity paid to winning bets at the Cheltenham Festival was greater, the cash punters positioned on English groups to advance to the Champions League finals and beyond all went into William Hill's coffers.
The company said it had likewise enjoyed its best-ever lead to a Grand National, which was won by the 66-1 outsider Auroras Encore.
"It has been a successful start to 2013 in trading terms", stated president Ralph Topping.
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"Having grown our UK online market share from 10% to 15% over the last 4 years, we intend to increase our share and are making significant investments in marketing, technology and individuals to attain that," he included.
On Monday, competing bookie Ladbrokes alerted that trading had actually been even worse than expected in the first 3 months of the year.
The firm blamed a drop in earnings from the Cheltenham Festival and lower revenues from high worth bettors. It added that a high number of cancelled conferences, due to the fact that of the harsh winter, had actually also affected its results.
Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, said: "William Hill's performance and potential customers remain in stark contrast to the problems presently being faced at Ladbrokes.
"There are, naturally, headwinds, such as the fierceness of competition in the sector and the normally pressed consumer, however these are challenges which the yohaig code entire market is facing," he included.
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Ladbrokes cautions on slower trading
15 April 2013
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William Hill Profits Boosted By Online Betting
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