William Hill does well as punters leap into games

Pre-tax profits were up by 23 per cent to £126.9m in the six months to June 28, with the online division’s contribution up by a quarter to £55.9m amid bets as diverse as points at Wimbledon and the next basket in basketball games.

In-play accounted for over two-fifths of the money staked online in the half, with pre-match betting on football also up by 29 per cent. Mobile betting showed a 600 per cent gain to £3.7m.

Interim revenues overall rose by seven per cent to £567.8m, with a solid performance from the core betting shop operation as the contribution from gaming machines picked up sharply.

Amounts wagered through the chain of 2,363 betting shops rose seven per cent year-on-year with net revenues two per cent ahead.

The gross win – or amount William Hill receives after paying out winning bets – fell slightly after customers cleaned up at this year’s Cheltenham festival and tough comparisons with last year’s World Cup.

Revenues in the first five weeks of the second half are down two per cent, but William Hill said this reflected the World Cup final this time last year.

Retail wagers are up six per cent with machines doing well, but the gross win in retail has fallen again. Online sportsbook is up 31 per cent with amounts staked 36 per cent higher.

William Hill added that it has applied for a licence to operate in Nevada after it made three acquisitions earlier in the year in the United States.

Chief executive Ralph Topping said: “We are performing well and look to the second half of the year and beyond with confidence.”

Broker Investec said the results were about five per cent ahead of consensus expectations and showed resilience in the over-the-counter business and the growth in machines and online.