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William Hill toasts World Cup betting boost
Bookmaker William Hill has revealed that online betting on this year's World Cup increased by 211 per cent compared to the tournament four years earlier.
Overall betting on the tournament in Brazil also increased by 80 per cent on the previous tournament as the firm took in £208m of wagers, compared to the £93m in 2010.
First half revenues rose seven per cent to £805m in the 26 weeks to July 1, beating analysts’ forecasts. Operating profit dipped by two per cent to £177m.
A successful World Cup helped to offset what was an unfavourable first quarter for betting firms. First-half group operating profits fell two per cent year-on-year to £176.9m while pre-tax profits were down 15 per cent at £121.8m.
The news will be welcomed by new Chief Executive James Henderson, who took over from Ralph Topping in the role today.
Henderson said:
We will always face regulatory challenges given our focus on regulated markets, as well as volatility in sporting results. Greater diversity helps mitigate this risk.We have already strengthened our global reach with two home markets and evolving opportunities in Spain, Italy and the US. I believe this is the right strategy and I will be looking hard at how we can continue to create shareholder value in developing a focused but internationally orientated gambling group.