ladbrokes-suffers-worst-cheltenham-festival-in-memory

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Ladbrokes suffers worst Cheltenham Festival in memory
bet9ja.com
21 April 2016
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Bookmaker Ladbrokes has said this promotion code year's Cheltenham Festival was its "worst in living memory".
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All were hit by a string of favourites winning at the celebration, however Ladbrokes also argued that rivals were using bets at levels that did not make service sense.

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

Despite this promotion code, the company stated it had actually seen a motivating start to the year.

Revenue was more than 10% greater.
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Chief executive Jim Mullen said: "At Cheltenham we were reminded of the intense competitors with offers and prices at levels which, in our view, abandoned bookmaking concepts.

"We completed hard but declined to pursue unsustainable techniques."

He told the BBC gambling was for his clients, not his service: "I've constantly said we're in the gaming company, we don't gamble ... I believed Cheltenham was a race to the bottom."

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

'Recreational punter'

Last year Ladbrokes revealed plans to combine with its smaller competitor, Coral.
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UK competitors authorities are currently taking a look at the deal.

Steve Clayton, expert at Hargreaves Lansdown stockbrokers, stated the most current trading declaration from Ladbrokes was encouraging, however the real 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 have to be offered off.

"We expect significant cost saving will be possible because there will be large areas of overlap and unnecessary duplication of functions across the combined business."
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Ladbrokes is pursuing a various technique to that of its rivals by focussing on client service and the occasional punter, who will not necessarily hunt for the very best chances.
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Mr Clayton said: "The bookie's technique is to concentrate on the 'leisure punter', simply put the still soft and malleable, unhardened bettors out there.

"These people do not know what the right odds should be, so it is simpler to construct a fat win margin into the bookie's terms."
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