Ladbrokes suffers worst Cheltenham Festival in memory

21 April 2016

Bookmaker Ladbrokes has said this year's Cheltenham Festival was its "worst in living memory".
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All bookmakers were struck by a string of favourites winning at the celebration, however Ladbrokes likewise argued that rivals were offering bets at levels that did not make service sense.
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Ladbrokes likewise validated that it has a ₤ 3m liability if Leicester City win the Premier League.
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Despite this promotion code, the company said it had actually seen a motivating start to the year.

Revenue was more than 10% higher.
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President Jim Mullen stated: "At Cheltenham we were advised of the yohaig code extreme competitors with deals and rates at levels which, in our view, abandoned bookmaking concepts.

"We contended tough however declined to strategies."

He told the BBC betting was for his clients, not his company: "I have actually always said we're in the gambling service, we do not gamble ... I thought Cheltenham was a race to the bottom."
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the yohaig code business stated 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 "positive" that its results would remain in line with expectations.

'Recreational punter'

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

UK competition authorities are presently taking a look at the deal.
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Steve Clayton, expert at Hargreaves Lansdown stockbrokers, said the newest trading statement from Ladbrokes was encouraging, however the genuine problem 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 offered off.

"We anticipate substantial expense conserving will be possible because there will be large locations of overlap and unnecessary duplication of functions throughout the combined organization."
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Ladbrokes is pursuing a various technique to that of its rivals by focussing on customer service and the occasional punter, who will not necessarily hunt for the very best chances.

Mr Clayton stated: "The bookie's method is to concentrate on the 'leisure punter', in other words the yohaig code still soft and malleable, unhardened bettors out there.

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