William Hill profits from in-game betting

BOOKMAKER William Hill yesterday said half-year profits leapt by almost a quarter as online punters piled into pre-match and in-play offers.

Pre-tax profits were up by 23 per cent to 126.9 million in the six months to 28 June, with the online division's contribution up by a quarter to 55.9m thanks to 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, with pre-match betting on football up by 29 per cent. Mobile betting showed a 600 per cent gain to 3.7m.

Interim revenues overall rose by 7 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 also rose 7 per cent year-on-year with net revenues 2 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.

Broker Investec said the results were about 5 per cent ahead of consensus expectations and showed resilience in the over-the-counter business and the growth in machines and online. As a result, it raised its 2011 profit forecast by 8 per cent.

But William Hill revealed revenues in the the second half are down 2 per cent, so far.