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 bookmakers were struck by a string of favourites winning at the festival, but Ladbrokes also argued that competitors were offering bets at levels that did not make organization sense.

Ladbrokes likewise validated that it has a ₤ 3m liability if Leicester City win the Premier League.

Despite this promotion code, the yohaig code company stated it had seen an encouraging start to the year.

Revenue was more than 10% higher.

Chief executive Jim Mullen said: "At Cheltenham we were reminded of the intense competitors with offers and rates at levels which, in our view, abandoned bookmaking principles.

"We completed tough but refused to pursue unsustainable methods."

He informed the BBC betting was for his consumers, not his service: "I have actually constantly said we're in the gaming business, we do not gamble ... I believed Cheltenham was a race to the bottom."

The company stated 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 remain in line with expectations.

'Recreational punter'

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

UK competitors authorities are currently taking a look at the offer.

Steve Clayton, analyst at Hargreaves Lansdown stockbrokers, said the 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 shops need to be sold.

"We expect considerable cost conserving will be possible because there will be vast locations of overlap and unneeded duplication of functions throughout the combined company."

Ladbrokes is pursuing a various technique to that of its competitors by concentrating on client service and the yohaig code periodic punter, who will not always hunt for the very best odds.

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

"These people do not understand what the yohaig code right chances ought to be, so it is easier to construct a fat win margin into the bookie's terms."