Success banks mainly on success of online sportsbook in-play betting feature.
British bookmaker William Hill has reported a sharp rise in profits on the back of growth in its online gambling operations and higher demand for bets during sporting events.
Outstanding Online GrowthThe gambling firm, which employs around 16,000 people, said upon release of its 2010 results that it had recorded outstanding online growth and that it was also boosted by strong input from its retail division.
Operating profits rose 7 percent to £276.8 million ($451.7m) for the year as revenues also rose 7% to a total of £1.07 billion ($1.75b). Pre-tax profits rose 60% to £193.3 million ($315.4m).
In-Play BettingThe best results were reserved for the William Hill Online division, which experienced a 24% increase in revenue to £251.5 million, after experiencing high growth in the online sportsbook division. This was evident particularly in the in-play betting feature, which saw a 114% rise in revenues thanks to the success of ads placed during key televised sports fixtures.
William Hill Online was established by a joint venture between Hill and online gambling software company Playtech. It offers online casino, sportsbook, poker and casino products, and recently expanded to include a mobile gaming division as well.
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