Ladbrokes Suffers Worst Cheltenham Festival In Memory

Ladbrokes suffers worst in memory


21 April 2016
bit.ly

Bookmaker Ladbrokes has actually said 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 festival, but Ladbrokes also argued that rivals were using bets at levels that did not make business sense.


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


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


Revenue was more than 10% higher.
bet9ja.com

Chief executive Jim Mullen stated: "At Cheltenham we were reminded of the intense competition with offers and rates at levels which, in our view, deserted bookmaking principles.


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


He informed the BBC betting was for his consumers, not his company: "I have actually constantly said we're in the yohaig code gaming service, we don't bet ... I thought Cheltenham was a race to the bottom."
bit.ly

The business said the Grand National winner, Rule The World, which was a 33/1 shot, provided a welcome contrast to Cheltenham.


Ladbrokes said it was "positive" that its outcomes would be in line with expectations.
bet9ja.com

'Recreational punter'
bit.ly

In 2015 Ladbrokes announced strategies to merge with its smaller rival, Coral.


UK competition authorities are presently taking a look at the offer.


Steve Clayton, expert at Hargreaves Lansdown stockbrokers, said the current trading declaration from Ladbrokes was motivating, however 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 stores have to be sold off.


"We expect significant expense saving will be possible due to the fact that there will be huge areas of overlap and unnecessary duplication of functions across the combined service."
bit.ly

Ladbrokes is pursuing a different technique to that of its rivals by focussing on client service and the occasional punter, who will not always hunt for the very best odds.
bet9ja.com

Mr Clayton said: "The bookie's strategy is to concentrate on the yohaig code 'leisure punter', to put it simply the yohaig code still soft and malleable, unhardened gamblers out there.


"These people do not understand what the best odds should be, so it is simpler to develop a fat win margin into the bookie's terms."
bit.ly