Ladbrokes suffers worst Cheltenham Festival in memory

21 April 2016

Bookmaker Ladbrokes has stated this promotion code year's Cheltenham Festival was its "worst in living memory".
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All bookmakers were struck 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.
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Ladbrokes likewise confirmed that it has a ₤ 3m liability if Leicester City win the yohaig code Premier League.

Despite this promotion code, the company said it had actually seen a motivating start to the year.
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Revenue was more than 10% higher.
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Chief executive Jim Mullen said: "At Cheltenham we were reminded of the extreme competitors with offers and pricing at levels which, in our view, deserted bookmaking concepts.

"We difficult but declined to pursue unsustainable techniques."

He informed the BBC gaming was for his customers, not his service: "I have actually constantly said we're in the gaming service, we do not bet ... I believed Cheltenham was a race to the yohaig code bottom."
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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.
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Ladbrokes said it was "positive" that its outcomes would remain in line with expectations.
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'Recreational punter'

Last year Ladbrokes announced strategies to combine with its smaller sized competitor, Coral.

UK competition authorities are presently looking at the deal.
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Steve Clayton, analyst at Hargreaves Lansdown stockbrokers, said the most recent trading statement from Ladbrokes was encouraging, but the real problem was whether the merger with Coral would be enabled: "A merged Ladbrokes and Coral will have a dominant retail position, even if lots of shops have actually to be sold off.
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"We anticipate significant cost saving will be possible because there will be large areas of overlap and unneeded duplication of functions throughout the combined organization."
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Ladbrokes is pursuing a various method to that of its competitors by focussing on client service and the yohaig code occasional punter, who will not necessarily hunt for the finest odds.

Mr Clayton said: "The bookie's method is to concentrate on the 'leisure punter', in other words the still soft and flexible, unhardened gamblers out there.

"These individuals do not understand what the ideal odds must be, so it is much easier to construct a fat win margin into the bookie's terms."