Ladbrokes Suffers Worst Cheltenham Festival In Memory

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


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


Ladbrokes also 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.
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President Jim Mullen said: "At Cheltenham we were reminded of the extreme competitors with deals and rates at levels which, in our view, deserted bookmaking principles.
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"We competed hard however refused to pursue unsustainable methods."


He informed the BBC gambling was for his clients, not his business: "I've constantly said we're in the betting organization, we do not bet ... I believed Cheltenham was a race to the bottom."


The company said 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 remain in line with expectations.


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


UK competitors authorities are currently taking a look at the bet9ja's welcome offer.


Steve Clayton, analyst at Hargreaves Lansdown stockbrokers, stated the newest trading declaration from Ladbrokes was encouraging, however the genuine concern was whether the merger with Coral would be permitted: "A merged Ladbrokes and Coral will have a position, even if lots of stores have actually to be sold.


"We expect substantial cost conserving will be possible because there will be vast locations of overlap and unnecessary duplication of functions across the combined company."


Ladbrokes is pursuing a different method to that of its competitors by focussing on customer support and the periodic punter, who will not always hunt for the best odds.
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Mr Clayton said: "The bookie's method is to focus on the 'recreational punter', in other words the still soft and flexible, unhardened bettors out there.


"These people do not know what the right chances should be, so it is easier to construct a fat win margin into the bookie's terms."
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