William Hill finally gets online surge

A SURGE in online gambling has more than offset a decline in wagers at William Hill’s betting shops.

The bookmaker said the amount bet online rose 13pc in the 17 weeks to October 24 while wagers on the High Street dipped 1pc.

The company also benefited from a betting binge ahead of Floyd Mayweather’s high-profile victory over Conor McGregor in what was billed the richest fight in sporting history.

Although there was no major football tournament over the summer, overall revenues were up 4pc on the previous year when business was boosted by Euro 2016.

William Hill chief executive Philip Bowcock hailed ‘good financial and operational progress so far in the second half’ of the year.

Bowcock said the company was on track to deliver £40m of cost savings this year.

The industry is now braced for a Government crackdown on fixedodds betting terminals – dubbed the crack cocaine of gambling.

The maximum stake that can be placed looks set to be cut from £100 to between £50 and £2.

George Salmon, equity analyst at Hargreaves Lansdown, said the crackdown is ‘the most pressing challenge for the group’.

Shares climbed in early trading but closed the day down 0.7pc, or 1.9p, at 274.1p.