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

Ladbrokes suffers worst in memory
bit.ly
21 April 2016
bit.ly
Bookmaker Ladbrokes has stated this promotion code year's Cheltenham Festival was its "worst in living memory".

All bookies were hit by a string of favourites winning at the celebration, but Ladbrokes also argued that competitors were using bets at levels that did not make organization sense.

Ladbrokes also verified that it has a ₤ 3m liability if Leicester City win the Premier League.
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Despite this promotion code, the company stated it had seen a motivating start to the year.

Revenue was more than 10% greater.

Chief executive Jim Mullen said: "At Cheltenham we were advised of the extreme competition with offers and pricing at levels which, in our view, deserted bookmaking concepts.

"We competed difficult however declined to pursue unsustainable methods."
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He informed the BBC gaming was for his customers, not his business: "I have actually always stated we remain in the betting business, we don't bet ... I thought Cheltenham was a race to the bottom."

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

Ladbrokes stated it was "positive" that its outcomes would remain in line with expectations.

'Recreational punter'

Last year Ladbrokes announced plans to merge with its smaller competitor, Coral.

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Steve Clayton, analyst at Hargreaves Lansdown stockbrokers, said the most recent trading statement from Ladbrokes was encouraging, but the yohaig code real concern was whether the merger with Coral would be enabled: "A merged Ladbrokes and Coral will have a dominant retail position, even if lots of stores have actually to be sold off.

"We anticipate considerable cost conserving will be possible since there will be vast areas of overlap and unneeded duplication of functions throughout the yohaig code combined company."

Ladbrokes is pursuing a various technique to that of its rivals by concentrating on client service and the occasional punter, who will not necessarily hunt for the very best odds.
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Mr Clayton said: "The bookie's method is to concentrate on the 'recreational punter', simply put the still soft and malleable, unhardened bettors out there.

"These individuals do not know what the right odds must be, so it is simpler to develop a fat win margin into the bookmaker's terms."
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