William Hill gets World Cup lift as favourites flounder

The World Cup was the best for bookmakers in 40 years, says William Hill.

So many of the favourites struggled in the early stages and England fans could not help having a flutter on their team in defiance of experience and all available evidence.

Spain, the favourites, did win the trophy, but their loss in the opening game to Switzerland deterred would-be backers.

The result at the World Cup was somewhat offset by what chief executive Ralph Topping admits was Hill's "worst-ever Royal Ascot". The bookmaker made a rare loss on the meeting and also suffered a relatively weak Grand National in April.

In the half year to June sales were up 3%. Online revenue grew 24% from a low base and operating profit was about 43% higher year-on-year.

The bookmaker, which has about 2,300 betting shops in Britain and Ireland, said it expected earnings before interest, tax and amortisation to be about £135 million in the first half, compared with £134.6 million the year before.