ladbrokes-suffers-worst-cheltenham-festival-in-memory

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Ladbrokes suffers worst Cheltenham Festival in memory

21 April 2016

Bookmaker Ladbrokes has stated this promotion code year's Cheltenham Festival was its "worst in living memory".

All bookmakers were hit by a string of favourites winning at the festival, however Ladbrokes also argued that rivals were offering bets at levels that did not make service sense.
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Ladbrokes also confirmed that it has a ₤ 3m liability if Leicester City win the Premier League.

Despite this promotion code, the business stated it had seen an start to the year.
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Revenue was more than 10% higher.

President Jim Mullen stated: "At Cheltenham we were advised of the extreme competition with offers and rates at levels which, in our view, abandoned bookmaking principles.

"We contended hard however refused to pursue unsustainable methods."

He informed the BBC betting was for his consumers, not his company: "I've constantly said we remain in the gambling service, we don't gamble ... I thought Cheltenham was a race to the bottom."
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The business said the yohaig code Grand National winner, Rule The World, which was a 33/1 shot, delivered a bet9ja's welcome offer contrast to Cheltenham.

Ladbrokes said it was "positive" that its results would be in line with expectations.

'Recreational punter'

In 2015 Ladbrokes revealed strategies to combine with its smaller sized rival, Coral.
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UK competitors authorities are presently looking at the deal.

Steve Clayton, analyst at Hargreaves Lansdown stockbrokers, said the most recent trading declaration from Ladbrokes was motivating, however the yohaig code real issue was whether the merger with Coral would be allowed: "A merged Ladbrokes and Coral will have a dominant retail position, even if many shops need to be sold off.

"We anticipate substantial cost conserving will be possible due to the fact that there will be vast locations of overlap and unnecessary duplication of functions throughout the combined organization."
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Ladbrokes is pursuing a various method to that of its competitors by focussing on customer care and the occasional punter, who will not necessarily hunt for the very best odds.

Mr Clayton stated: "The bookie's technique is to focus on the 'leisure punter', to put it simply the still soft and flexible, unhardened gamblers out there.

"These individuals do not understand what the right chances must be, so it is much easier to construct a fat win margin into the bookie's terms."
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