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Ladbrokes suffers worst Cheltenham Festival in memory

21 April 2016

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, however Ladbrokes also argued that rivals were using bets at levels that did not make service sense.

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

Despite this promotion code, the business said it had actually seen an encouraging start to the year.

Revenue was more than 10% greater.
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Chief executive Jim Mullen stated: "At Cheltenham we were advised of the intense competition with deals and rates at levels which, in our view, abandoned bookmaking principles.
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"We completed tough but refused to pursue unsustainable strategies."
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He informed the yohaig code BBC gaming was for his consumers, not his company: "I have actually constantly said we remain in the gambling company, we do not gamble ... I believed Cheltenham was a race to the bottom."

The business said the yohaig code Grand National winner, Rule The World, which was a 33/1 shot, provided a bet9ja's welcome offer contrast to Cheltenham.
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Ladbrokes said it was "positive" that its results would be in line with expectations.

'Recreational punter'
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Last year Ladbrokes announced plans to merge with its smaller sized rival, Coral.
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UK competitors authorities are currently taking a look at the deal.
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Steve Clayton, analyst at Hargreaves Lansdown stockbrokers, said the most current trading statement from Ladbrokes was motivating, 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 numerous stores need to be sold.
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"We expect substantial cost saving will be possible due to the fact that there will be vast locations of overlap and unneeded duplication of functions across the combined service."

Ladbrokes is pursuing a various technique to that of its competitors by focussing on customer support and the periodic punter, who will not always hunt for the very best odds.

Mr Clayton said: "The bookmaker's strategy is to focus on the 'leisure punter', simply put the still soft and malleable, unhardened bettors out there.

"These people do not understand what the ideal odds should be, so it is simpler to construct a fat win margin into the ."