The ability of punters to use online gambling applications has resulted in a better-than-expected rise in profits at the half-year mark for bookmaker William Hill. Through the use of the mobile sports app, an increase in the amount of bets wagered rose by 112 per cent.

Mobile App Helps Profit Soar

The online app has been downloaded more than one million times since its February 2012 launch. In the same period, the overall mobile gaming net revenue has increased by 198 per cent for the company. Thanks to the mobile gaming app, the company has seen their pre-tax earnings increase by four per cent. This has resulted in a total pre-tax earnings of £156.2 million. Net revenues have also increased to £751.6 million.

Hill’s Profits Consistent With Other Companies

The increase in profits that Hill is experiencing reflects a growing trend in online gambling. The overall online sports revenues are also showing an increase in profits. The half-year revenues are up to 44 per cent. Web operating profits have seen a 16 per cent increase in profits, resulting in a total profit of £80.2 million.

While Online Business Increases, Traditional Business Decreases

Although Hill’s online business experienced significant growth, the same cannot be said about Hill’s traditional retail business. The current figure of £107.6 million reflects a two per cent fall from the business’ retail earnings from last year. The amounts that were placed over the counter were down five per cent as well, despite the fact that last year’s amounts included bets placed over the counter on the Euro 2012 football tournament.

Growth Good for Employees

Despite a decrease in retail earnings, Hill’s traditional retail business still made up the greatest portion of its business. This is good news for the company’s employees, which includes more than 3,000 people in Yorkshire alone. During a period which saw a closing of 10 shops, the 79-year-old company also opened an additional 16 shops. The total number of 2,398 shops now includes a recently launched store in Australia.