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Big Loss for Bookies

The William Hill online casinos gambling group and bookmaker announced that a win at last week’s Grand National horse race has set the company back several million in funds because the win was so unexpected. Will Hill is one of the top bookmakers in the United Kingdom and one of the most established. The company has spent the last several years expanding into the online casinos gambling and poker genres – a good bet considering the fluctuating nature of the betting and bookmaking industry. Based on the company’s high payouts because of the outcome of the Grand National, Will Hill has announced that the company’s quarterly profits will show the hit.

What it comes down to is that few in the land and online casinos betting industry anticipated that Comply or Die would win the horse race. Because of the outcome the company was forced to pay out more than was expected to individuals. Will Hill announced that the unanticipated win cost the company GBP 7 million out of the quarterly profits. And while Will Hill can certainly afford to pay out the funds, that is enough to send any Trading Director at an online casinos bookmaker straight to the bourbon.

Will Hill CEO Ralph Topping is newly appointed after the online casinos gambling and betting group spent a long period of time searching for a CEO to fill the shoes once the previous CEO vacated the position. Topping commented on the Grand Nationals outcome, "I watched the race with my trading director and I have never seen a man more nervous. He was down on his knees." At this point there is no real concern that the company will show any long-term negative effects based on the large payout.