Ladbrokes suffers worst Cheltenham Festival in memory

21 April 2016

Bookmaker Ladbrokes has stated 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 celebration, but Ladbrokes likewise argued that competitors were providing 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.

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

Revenue was more than 10% higher.

President Jim Mullen said: "At Cheltenham we were advised of the intense competitors with deals and pricing at levels which, in our view, deserted bookmaking concepts.

"We competed hard however declined to pursue unsustainable methods."

He told the BBC gambling was for his consumers, not his service: "I have actually always said we're in the gambling service, we don't bet ... I believed Cheltenham was a race to the bottom."

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

Ladbrokes said it was "confident" that its outcomes would remain in line with expectations.

'Recreational punter'

Last year Ladbrokes revealed strategies to combine with its smaller sized competitor, Coral.

UK competitors authorities are currently looking at the deal.

Steve Clayton, expert at Hargreaves Lansdown stockbrokers, stated the newest trading statement from Ladbrokes was motivating, but the genuine issue was whether the merger with Coral would be permitted: "A merged Ladbrokes and Coral will have a dominant retail position, even if lots of shops need to be sold off.

"We anticipate substantial expense conserving will be possible since there will be vast areas of overlap and unneeded duplication of functions across the combined organization."

Ladbrokes is pursuing a various technique to that of its rivals by concentrating on customer service and the occasional punter, who will not always hunt for the yohaig code best chances.

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

"These individuals do not know what the best odds must be, so it is easier to build a fat win margin into the bookie's terms."