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

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

Despite this promotion code, the business stated it had actually seen an encouraging start to the year.

Revenue was more than 10% higher.
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President Jim Mullen stated: "At Cheltenham we were reminded of the extreme competition with deals and pricing at levels which, in our view, deserted bookmaking principles.
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"We contended difficult however refused to pursue unsustainable strategies."
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He told the BBC gambling was for his clients, not his business: "I have actually always said we're in the gaming service, we do not gamble ... I believed Cheltenham was a race to the bottom."
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The company said the Grand National winner, Rule The World, which was a 33/1 shot, delivered a bet9ja's welcome offer contrast to Cheltenham.

Ladbrokes said it was "positive" that its results would be in line with expectations.

'Recreational punter'

Last year Ladbrokes announced plans to combine with its smaller competitor, Coral.
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UK competitors authorities are presently taking a look at the deal.
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Steve Clayton, analyst at Hargreaves Lansdown stockbrokers, stated the newest trading statement from Ladbrokes was motivating, but the genuine problem was whether the merger with Coral would be enabled: "A merged Ladbrokes and Coral will have a dominant retail position, even if numerous shops need to be sold.
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"We anticipate significant cost saving will be possible because there will be vast locations of overlap and unneeded duplication of functions across the combined organization."

Ladbrokes is pursuing a different method to that of its rivals by concentrating on client service and the periodic punter, who will not always hunt for the very best odds.

Mr Clayton stated: "The bookie's method is to concentrate on the 'recreational punter', to put it simply the still soft and malleable, unhardened bettors out there.

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