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 bookies were hit by a string of favourites winning at the festival, however Ladbrokes likewise argued that rivals were using bets at levels that did not make organization sense.

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

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

Revenue was more than 10% greater.

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

"We competed hard but declined to pursue unsustainable methods."

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

The company said the Grand National winner, Rule the yohaig code World, which was a 33/1 shot, delivered a bet9ja's welcome offer contrast to Cheltenham.

Ladbrokes said it was "confident" that its outcomes would be in line with expectations.

'Recreational punter'

In 2015 Ladbrokes revealed plans to combine with its smaller sized competitor, Coral.

UK competitors authorities are presently looking at the deal.

Steve Clayton, expert at Hargreaves Lansdown stockbrokers, said the latest trading declaration from Ladbrokes was motivating, but the genuine concern was whether the merger with Coral would be allowed: "A merged Ladbrokes and Coral will have a dominant retail position, even if many stores have actually to be offered off.

"We anticipate substantial expense saving will be possible since there will be large locations of overlap and unneeded duplication of functions across the combined service."

Ladbrokes is pursuing a various strategy to that of its rivals by focussing on customer support and the occasional punter, who will not always hunt for the yohaig code very best chances.

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

"These people do not know what the ideal odds must be, so it is easier to develop a fat win margin into the bookie's terms."