The BBC recently reported on an 11% dive on profit alert for William Hill and interestingly, the brand cited one of two factors in the ‘weaker-than-expected performance’ as being their responsible gambling tools.
The article [read original here] references online trading as being hit by regulations and “the worst Cheltenham results in recent history”.
William Hill expect that their full-year operating profit to be down from £291.4m last year to between £260m and £280 this year. The share price dropped by 40p to just 331p.
Talking about the responsible gambling options the brand has in place, they are reported as having said that there has been an increase in the number of players taking a ‘time-out’ and automatic self-exclusions over the last few weeks.
They went on to say how the trend in using these options to halt gambling both online and in bookmakers is still evolving. They added that if the current trends continue at the level they are at now, there will be a further reduction in online profits of between £20-£25m for 2016.
The other factor that was mentioned was the Cheltenham races where many bookmakers felt the pinch as a number of the favourites won.
As one of the original four corporate bookmakers involved with the Senet Group, William Hill has agreed to promote responsible gambling standards.
As such they have a number of ways in which a ‘punter’ can gamble responsibly by setting deposit limits, utilising a cool down period or self-excluding themselves from the site.
A player has the option to set himself or herself a limit of how much they deposit in any given period. It could be 24 hours, seven days or a month; the choice is individual to the user.
Players are offered the opportunity to restrict access to just certain areas of the William Hill site.
A player may request that they have their account locked for a pre-determined period. This can be anything from one day to six weeks.
The most permanent option is Total Self Exclusion and this can last from as little as six months to five years. However, before reopening your account you would need to contact Customer Service who will assess each situation on an individual basis.
Whilst responsible gambling may have had an adverse impact on the William Hill profits, and no doubt and other gaming operators too, they are a welcome addition to all gambling sites.