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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 hit by a string of favourites winning at the festival, but Ladbrokes likewise argued that competitors were using bets at levels that did not make service sense.

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 a motivating start to the year.

Revenue was more than 10% higher.

Chief executive Jim Mullen stated: "At Cheltenham we were advised of the intense competition with offers and pricing at levels which, in our view, abandoned bookmaking concepts.

"We completed hard however declined to pursue unsustainable ."

He informed the BBC gambling was for his consumers, not his organization: "I have actually always stated we're in the yohaig code gaming organization, we do not 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, delivered a bet9ja's welcome offer contrast to Cheltenham.

Ladbrokes stated it was "confident" that its results would be in line with expectations.

'Recreational punter'

In 2015 Ladbrokes revealed plans to merge with its smaller competitor, Coral.

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

Steve Clayton, expert at Hargreaves Lansdown stockbrokers, stated the yohaig code most recent trading declaration from Ladbrokes was motivating, but the real issue was whether the merger with Coral would be permitted: "A merged Ladbrokes and Coral will have a dominant retail position, even if numerous stores need to be sold.

"We expect considerable cost conserving will be possible due to the fact that there will be huge areas of overlap and unneeded duplication of functions across the combined business."

Ladbrokes is pursuing a various strategy to that of its competitors by focussing on customer service and the occasional punter, who will not always hunt for the very best chances.

Mr Clayton stated: "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 know what the yohaig code right chances must be, so it is easier to develop a fat win margin into the bookmaker's terms."