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

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Ladbrokes suffers worst Cheltenham Festival in memory
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21 April 2016

Bookmaker Ladbrokes has actually 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 celebration, but Ladbrokes also argued that rivals were using bets at levels that did not make organization sense.
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Ladbrokes also validated that it has a ₤ 3m liability if Leicester City win the Premier League.

Despite this, the business stated it had seen a motivating start to the year.

Revenue was more than 10% greater.

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

"We competed tough but refused to pursue unsustainable strategies."
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He told the BBC betting was for his consumers, not his organization: "I have actually always stated we remain in the gambling business, we don't gamble ... I thought Cheltenham was a race to the bottom."

The business stated the Grand National winner, Rule The World, which was a 33/1 shot, delivered 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 merge with its smaller sized rival, Coral.

UK competitors authorities are presently looking at the deal.

Steve Clayton, expert at Hargreaves Lansdown stockbrokers, said the most recent trading statement from Ladbrokes was motivating, however the real concern was whether the merger with Coral would be permitted: "A merged Ladbrokes and Coral will have a dominant retail position, even if lots of shops have actually to be sold off.

"We anticipate considerable cost conserving will be possible since there will be large areas of overlap and unnecessary duplication of functions across the combined company."
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Ladbrokes is pursuing a different method to that of its competitors by focussing on customer support and the periodic punter, who will not necessarily hunt for the very best odds.
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Mr Clayton said: "The bookie's method is to focus on the 'recreational punter', in other words the still soft and malleable, unhardened gamblers out there.

"These individuals do not know what the right odds ought to be, so it is easier to a fat win margin into the bookmaker's terms."
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