Ladbrokes suffers worst Cheltenham Festival in memory
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21 April 2016
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Bookmaker Ladbrokes has stated this promotion code year's Cheltenham Festival was its "worst in living memory".

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

Ladbrokes likewise verified that it has a ₤ 3m liability if win the yohaig code Premier League.

Despite this promotion code, the company said it had actually seen an encouraging start to the yohaig code year.
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Revenue was more than 10% greater.

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

"We completed tough but refused to pursue unsustainable strategies."
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He informed the BBC betting was for his customers, not his organization: "I have actually constantly stated we remain in the betting business, we do not bet ... I thought Cheltenham was a race to the yohaig code bottom."

The company said 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 "confident" that its outcomes would remain in line with expectations.

'Recreational punter'

Last year Ladbrokes revealed plans to merge with its smaller competitor, Coral.

UK competition authorities are presently looking at the bet9ja's welcome offer.

Steve Clayton, analyst at Hargreaves Lansdown stockbrokers, said the current trading declaration from Ladbrokes was encouraging, however the genuine issue was whether the merger with Coral would be enabled: "A merged Ladbrokes and Coral will have a dominant retail position, even if many stores need to be sold.
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"We expect considerable expense conserving will be possible due to the fact that there will be large areas of overlap and unnecessary duplication of functions across the combined company."

Ladbrokes is pursuing a different technique to that of its competitors by focussing on customer support and the occasional punter, who will not necessarily hunt for the very best odds.
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Mr Clayton stated: "The bookie's method is to focus on the 'leisure punter', to put it simply the still soft and flexible, unhardened bettors out there.

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