William Hill employees are to share a £3.5 million-payout from the organisation’s three-year sharesave plan.

Almost 550 UK employees will benefit from a rise in the organisation’s share price from £1.48 to £4.86 during the period of July 2010 to July 2013.

In 2012, almost 700 employees received a £3.5 million-payout after the organisation’s share price grew from £1.39 to £3.13 during a previous three-year scheme.

More than 3,000 William Hill employees are currently enrolled in the sharesave scheme, which is now in its 11th year.

The scheme enables employees to save between £5 and £250 per month for either a three or five-year period, at the end of which they have an opportunity to buy William Hill shares at a 20% discounted price.

Those who invested the maximum £250 per month in 2010 are now eligible to receive an additional £20,000, on top of their original investment of £9,000, based on a share price of £4.86.

David Russell, group HR director at William Hill, said: “It’s great for us to be able to celebrate the success of the company with our teams in this way.

“It’s through their hard work, commitment and dedication that we are so successful and, in two years, more than 1,200 employees have reaped a £7 million-payout from the scheme.’’