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

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Ladbrokes suffers worst Cheltenham Festival in memory

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

All bookmakers 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 service sense.
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Ladbrokes likewise verified that it has a ₤ 3m liability if Leicester City win the Premier League.

Despite this promotion code, the business said it had actually seen an encouraging start to the year.
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Revenue was more than 10% higher.

President Jim Mullen stated: "At Cheltenham we were advised of the extreme competition with deals and prices at levels which, in our view, deserted bookmaking concepts.

"We contended tough however refused to pursue unsustainable ."
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He informed the BBC betting was for his clients, not his service: "I've always stated we're in the betting organization, we do not bet ... I believed Cheltenham was a race to the bottom."

the yohaig code 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 said it was "positive" that its results would be in line with expectations.

'Recreational punter'

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

UK competition authorities are currently looking at the deal.

Steve Clayton, analyst at Hargreaves Lansdown stockbrokers, said the current trading statement from Ladbrokes was encouraging, but the real problem 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 need to be sold.

"We anticipate substantial cost conserving will be possible due to the fact that there will be large areas of overlap and unneeded duplication of functions across the combined company."
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Ladbrokes is pursuing a various method to that of its competitors by focussing on customer care and the occasional punter, who will not necessarily hunt for the very best chances.
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Mr Clayton said: "The bookie's technique is to concentrate on the 'recreational punter', in other words the still soft and malleable, unhardened bettors out there.

"These individuals do not understand what the best chances need to be, so it is simpler to build a fat win margin into the bookmaker's terms."
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