The online betting industry has grown massively over the past couple of years and is projected to grow even more in the foreseeable future. There are a couple of reasons for this, the main of which is ease of use. Instead of having to go to your local bookmaker which includes transportation if it isn’t local; you can have everything in the palm of your hand. Whether you’re a fan of Horse Racing or Football you’ll be able to place a bet on your favorite event within seconds and you won’t even have to move off of your seat!
Young gamblers are also much more likely to use online services over paying a visit to the bookies. This is because they are comfortable and confident using the internet when compared to the older generation and can be pretty sure they won’t encounter any problems.
This is the obvious answer as to why William Hills in-shop revenue has had slower growth than anticipated. Figures released that represent the first 17 weeks of the year (up to April 25’th) show that growth was only 1% in its retail shops. This is smaller than the 2% growth sustained in this time period last year and shows what we expect thanks to online betting’s popularity. William Hill insist they still had a positive start to 2017 with the online side of their business growing by a massive 16%! There was also significant growth in their Australian and American divisions which can only be seen as a positive.
Slow growth for in-store shops is something that is no longer a surprise for not only William Hill but other major betting operators Ladbrokes have also warned shops about a “challenging UK high street environment”. Although William Hill has recently announced they are on track with a turnaround plan which will be delivering 40 million pounds in “efficiencies” and will also aim to “deliver a global technological platform” that will also improve the online side of their business. This is good because their website can be used around the world by people in different countries around the world to place bets. Plus you can have all of the different markets in one place; Football, Horse Racing, Casino games, Greyhounds and much more!
The gambling industry is currently eagerly awaiting the results of a regulatory review which will be finished after the June 8’th General election. This is likely to include a cap on the maximum stake allowed to be placed on in store gambling machines. This will have a detrimental effect on pretty much all bookmakers as this is one of their main sources of income. They will be hoping that the maximum stake is still only halved to around 50 pounds per play instead of 25 pounds which look like the figure they will settle on at the moment.
Thank you for reading, feel free to check out some of our other articles to stay updated with gambling news from around the world!