Spain weren't the only ones to win World Cup plaudits

Published on Monday 19 July 2010 22:32

WILLIAM Hill yesterday said the World Cup was one of the best for bookmakers in 40 years after the tournament helped drive a 7 per cent hike in half-year sales at its betting shops.

While the group enjoyed a "very strong" World Cup performance across its retail estate in June, this was offset by its worst ever Royal Ascot.

It suffered losses on the horseracing event, which followed a weak Grand National for the group in April, leaving betting shop operating profits around 8 per cent lower in the first half of the year.

Ralph Topping, chief executive of William Hill, said: "Whilst it was our worst ever Royal Ascot, with a loss on the meeting, the World Cup proved to be one of the best for bookmakers in 40 years.

"Overall, we have seen a good group performance in the period, with a particularly strong contribution from William Hill Online."

The group is expecting to hold overall underlying earnings firm in the half-year - at around 135 million, up marginally on the 134.6m seen a year earlier.

William Hill Online offset the poor horseracing results for the group, notching up net sales growth of around 24 per cent and an estimated 43 per cent lift in operating profits during the 26 weeks to 29 June.

William Hill's retail performance was also given a boost by the roll-out of a new generation of gaming machines across its stores.

Telephone betting revenues suffered, slumping by around a third in the half-year after a disappointing Royal Ascot and Grand National season, although William Hill said it was also being disadvantaged over tax breaks offered to rivals, such as Irish offshore telephone betting groups.

However, the World Cup was a bumper one for the industry, with a record 1 billion betting spree during the tournament.

It generated the highest ever betting turnover, as well as some spectacular punts from high-rolling gamblers.

Spain's victory generated a profitable return for bookmakers after the European champions' opening defeat to Switzerland deterred some would-be backers. The Spaniards are the only team to have won the World Cup after losing their first game.

Bookies also benefited from patriotic bets on a poor England team. William Hill is now offering its longest odds ever on an England victory - 16/1 - for the next World Cup in Brazil following their dreadful showing.

Other favourable results for the bookies included much-fancied Brazil crashing out to Holland in the quarter-finals, as well as 2006 finalists France and Italy's exit at the group stage.

One William Hill punter lost 110,000 on an each-way bet on the French, who left the event in South Africa in disarray after a squad revolt.