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

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William Hill earnings improved by online wagering
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19 April 2013
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William Hill stated a strong performance in online betting helped to enhance its first quarter operating profits 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 Festival, it had much better luck in the Champions League.

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 amount paid to winning bets at the Cheltenham Festival was higher, the cash punters placed on English groups to progress to the Champions League quarter finals and beyond all entered into William Hill's coffers.
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The firm stated it had likewise enjoyed its best-ever lead to a Grand National, which was won by the 66-1 outsider Auroras Encore.
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"It has actually been an effective 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 intend to increase our share and are making considerable financial investments in marketing, innovation and people to attain that," he added.

On Monday, competing bookie Ladbrokes warned that trading had been even worse than anticipated in the very first three months of the year.

The firm blamed a drop in profits from the Cheltenham Festival and lower earnings from high worth gamblers. It added that a high variety of cancelled conferences, due to the fact that of the severe winter season, had likewise affected its outcomes.

Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, stated: "William Hill's performance and prospects are in stark contrast to the yohaig code difficulties currently being faced at Ladbrokes.
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"There are, of course, headwinds, such as the fierceness of competition in the yohaig code sector and the typically pushed customer, however these are difficulties which the whole market is facing," he added.
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Ladbrokes warns on slower trading

15 April 2013
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