Ladbrokes suffers worst Cheltenham Festival in memory

21 April 2016

Bookmaker Ladbrokes has actually 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 celebration, but Ladbrokes likewise argued that competitors were using bets at levels that did not make business sense.

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

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

Revenue was more than 10% greater.

Chief executive Jim Mullen said: "At Cheltenham we were reminded of the extreme competitors with deals and prices at levels which, in our view, deserted bookmaking principles.

"We contended tough but declined to pursue unsustainable methods."

He told the BBC gambling was for his clients, not his business: "I have actually constantly stated we remain in the gaming service, we do not bet ... I thought 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 outcomes would remain in line with expectations.

'Recreational punter'

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

UK competition authorities are presently looking at the offer.

Steve Clayton, expert at Hargreaves Lansdown stockbrokers, stated the yohaig code most recent trading declaration from Ladbrokes was encouraging, however the genuine problem was whether the yohaig code merger with Coral would be allowed: "A merged Ladbrokes and Coral will have a dominant retail position, even if lots of stores have actually to be sold.

"We expect substantial expense conserving will be possible because there will be large areas of overlap and unnecessary duplication of functions throughout the combined organization."

Ladbrokes is pursuing a different method to that of its competitors by concentrating on client service and the occasional punter, who will not always hunt for the finest odds.

Mr Clayton stated: "The bookmaker's technique is to focus on the 'recreational punter', to put it simply the still soft and flexible, unhardened bettors out there.

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