Sports betting company William Hill has reported massive profits in the first half of the year 2011, according to a recent report. The company has outperformed its rival company Ladbrokes, whose revenue declined when compared to 2010.
Although William Hill’s sports betting segment contributed to the major share of the revenue, their online and mobile gambling services also put in considerable contributions. The revenue earned through the firm’s online gambling consoles alone accounted for revenue of above ?150 million, 20% higher than their net revenue in 2010. The report also justifies the company’s decision to shift operations to Gibraltar a couple of years back, which reduced the firm’s tax payments by millions.
William Hill made the move to Gibraltar to increase their online operations’ efficiency. The firm’s investments in mobile technology have also boosted their business and the company has seen a net growth of above 600% this year. The mobile services from William Hill include sports betting and casino games that can be easily accessed through smartphones.
The firm’s success in the online gambling circuit is not surprising considering the number of innovations it has made. Apart from sports betting, the site offers a variety of online gambling services like casino, poker and bingo and is one of the few sites that offer live casino gaming presently. It is also the only sports betting company that provides point-by-point betting on Wimbledon.
Ralph Topping, mobile executive of William Hill reported that he was pleased with the company’s online services as well as its innovations in the mobile and in-play offerings. He added that online sports-booking has seen a phenomenal growth over the past year, which was a major factor in their online success.
Mr. Topping went on to claim that the multi-channel business is now targeted towards the widest audience and is consistently striving to provide its customers with a highly enjoyable experience with their extensive range of products and services as well as their usage of the newest technologies in the market. He also placed equal importance regarding the firm’s position on trading and pricing and that the company has focused on those that are right for the punter.
Taking into account their different services together, William Hill has reported an increase of 7% from 2010 in their net revenue, at almost ?570. The company’s pre-tax profit, close to ?130, is an increase of more than 20% from the previous year.