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

bet9ja.com
Ladbrokes suffers worst Cheltenham Festival in memory
bit.ly
21 April 2016
bet9ja.com
Bookmaker Ladbrokes has stated this promotion code Festival was its "worst in living memory".

All bookies were struck by a string of favourites winning at the celebration, however Ladbrokes also argued that rivals were providing bets at levels that did not make organization sense.
bet9ja.com
Ladbrokes also verified 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% higher.

President Jim Mullen stated: "At Cheltenham we were reminded of the intense competition with deals and prices at levels which, in our view, deserted bookmaking concepts.

"We competed tough however refused to pursue unsustainable techniques."

He told the BBC gambling was for his consumers, not his company: "I have actually always stated we're in the gambling organization, we do not bet ... I believed 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 "positive" that its results would remain in line with expectations.

'Recreational punter'

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

UK competition authorities are currently looking at the deal.
bet9ja.com
Steve Clayton, expert at Hargreaves Lansdown stockbrokers, said the most recent trading declaration from Ladbrokes was encouraging, however the genuine problem was whether the merger with Coral would be allowed: "A merged Ladbrokes and Coral will have a dominant retail position, even if lots of shops have actually to be sold.
bit.ly
"We expect significant expense saving will be possible since there will be large locations of overlap and unnecessary duplication of functions across the combined business."

Ladbrokes is pursuing a different strategy to that of its competitors by focussing on consumer service and the occasional punter, who will not always hunt for the very best chances.
bet9ja.com
Mr Clayton stated: "The bookmaker's method is to focus on the 'leisure punter', simply put the still soft and flexible, unhardened bettors out there.

"These people do not understand what the best odds should be, so it is easier to develop a fat win margin into the bookmaker's terms."
bit.ly