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

Ladbrokes suffers worst Cheltenham Festival in memory

21 April 2016

Bookmaker Ladbrokes has said this promotion code year's Cheltenham Festival was its "worst in living memory".
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All bookies were struck by a string of favourites winning at the festival, but Ladbrokes likewise argued that competitors were using bets at levels that did not make company sense.
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Ladbrokes likewise confirmed that it has a ₤ 3m liability if Leicester City win the Premier League.
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Despite this promotion code, the yohaig code company stated it had actually seen a motivating start to the yohaig code year.
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Revenue was more than 10% higher.

Chief executive Jim Mullen stated: "At Cheltenham we were reminded of the extreme competitors with deals and prices at levels which, in our view, abandoned bookmaking principles.

"We competed tough however refused to pursue unsustainable strategies."

He informed the BBC betting was for his consumers, not his company: "I have actually always stated we remain in the business, we do not gamble ... I believed Cheltenham was a race to the bottom."

The business stated the Grand National winner, Rule The World, which was a 33/1 shot, delivered a bet9ja's welcome offer contrast to Cheltenham.

Ladbrokes stated it was "confident" that its results would be in line with expectations.

'Recreational punter'
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In 2015 Ladbrokes revealed plans to combine with its smaller rival, Coral.

UK competition authorities are currently looking at the deal.

Steve Clayton, expert at Hargreaves Lansdown stockbrokers, stated the newest trading statement from Ladbrokes was encouraging, but the real concern was whether the merger with Coral would be enabled: "A merged Ladbrokes and Coral will have a dominant retail position, even if many shops have to be sold off.
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"We expect considerable expense conserving will be possible due to the fact that there will be huge locations of overlap and unneeded duplication of functions throughout the combined business."
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Ladbrokes is pursuing a various technique to that of its competitors by focussing on client service and the occasional punter, who will not necessarily hunt for the best chances.

Mr Clayton said: "The bookmaker's technique is to focus on the 'leisure punter', in other words the still soft and malleable, unhardened gamblers out there.

"These individuals do not know what the best odds need to be, so it is easier to construct a fat win margin into the bookie's terms."