William Hill Celebrates Record Cheltenham Festival Turnover
A spokesperson for the evoke-owned brand did not provide specific revenue figures but confirmed that Wednesday marked the operator’s “best ever day” during the Festival.
William Hill has described this year’s Cheltenham Festival as “historically profitable” after recording its biggest ever single-day turnover at the famous racing event, with the bookmaker now expecting betting volumes to exceed £10m on Gold Cup Day.
The scale of commercial activity around the Festival is also drawing attention beyond betting alone. Analysis from Press Box PR’s Managing Director Alex Donohue highlights how the modern Cheltenham Festival has increasingly evolved into a major networking hub for industry executives, with brands using the week not only to engage customers but also to build partnerships and conduct business across the racing and betting ecosystem.
A spokesperson for the evoke-owned brand did not provide specific revenue figures but confirmed that Wednesday marked the operator’s “best ever day” during the Festival.
William Hill’s head of broadcast and PR Lee Phelps said: “It’s been a Cheltenham Festival to remember for us bookies so far, with Wednesday our best ever day at the Festival.
“Now, with the punters keen to get back on terms, we’re braced for Gold Cup Day where the battle will be decided. Friday of Cheltenham is always a huge day, and this year will be no different. We’re expecting turnover to go into eight figures as the Festival reaches its crescendo.”
In the build-up to the meeting, William Hill also introduced an enhanced horse racing Bet Builder product as part of its ongoing partnership with technology supplier Checkd Dev.
UK betting sector faces tax changes
The strong Festival performance comes as the wider UK betting and gaming industry prepares for significant tax changes.
The government is set to increase the online gambling tax rate from 21 per cent to 40 per cent next month. While horse racing has been shielded from the increase, the tax on online sports betting will still rise by 10 percentage points to 25 per cent from April next year.
Industry stakeholders have raised concerns that the wider impact of these changes could still filter through to racing over time.
Meanwhile, William Hill has confirmed plans to close a number of retail betting shops, despite those venues being exempt from the new tax increases.
Earlier this year, evoke reported that it expects full-year revenue growth of around two per cent for 2025, supported by a strong final quarter. Q4 revenue reached £464m, representing a seven per cent increase on Q3, although it was down three per cent year-on-year following an operator-friendly end to 2024 that saw betting revenue fall by 22 per cent.
