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

1 Ladbrokes Suffers Worst Cheltenham Festival In Memory

Ladbrokes suffers worst Cheltenham Festival in memory

21 April 2016

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

All bookies were hit by a string of at the festival, but Ladbrokes likewise argued that rivals were using bets at levels that did not make service sense.

Ladbrokes also validated that it has a ₤ 3m liability if Leicester City win the Premier League.

Despite this promotion code, the company said it had seen a motivating start to the year.

Revenue was more than 10% higher.

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

"We completed hard but declined to pursue unsustainable methods."
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He told the BBC gambling was for his clients, not his organization: "I've constantly said we're in the betting company, we do not gamble ... I thought Cheltenham was a race to the yohaig code bottom."
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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.
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Ladbrokes said it was "confident" that its results would be in line with expectations.
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'Recreational punter'
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Last year Ladbrokes announced plans to combine with its smaller rival, Coral.

UK competition authorities are presently looking at the bet9ja's welcome offer.

Steve Clayton, analyst at Hargreaves Lansdown stockbrokers, stated the most recent trading statement from Ladbrokes was encouraging, but the genuine 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 shops have to be sold.
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"We expect substantial cost saving will be possible due to the fact that there will be huge locations of overlap and unnecessary duplication of functions across the combined organization."
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Ladbrokes is pursuing a various strategy to that of its rivals by focussing on customer care and the occasional punter, who will not necessarily hunt for the best odds.

Mr Clayton stated: "The bookie's strategy is to focus on the 'leisure punter', in other words the still soft and malleable, unhardened bettors out there.

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