Ladbrokes suffers worst Cheltenham Festival in memory
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21 April 2016
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Bookmaker Ladbrokes has stated 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 celebration, however Ladbrokes likewise argued that rivals were providing bets at levels that did not make business sense.

Ladbrokes likewise validated that it has a ₤ 3m liability if Leicester City win the Premier League.
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Despite this promotion code, the business stated it had seen a motivating start to the year.
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Revenue was more than 10% greater.

Chief executive Jim Mullen stated: "At Cheltenham we were advised of the intense competition with offers and prices at levels which, in our view, deserted bookmaking principles.
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"We completed hard however refused to pursue unsustainable strategies."

He told the BBC gaming was for his clients, not his service: "I've constantly said we're in the gaming organization, we don't gamble ... I thought was a race to the bottom."

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

Ladbrokes stated it was "confident" that its results would remain in line with expectations.
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'Recreational punter'

Last year Ladbrokes announced plans to merge with its smaller sized rival, Coral.

UK competitors authorities are presently taking a look at the yohaig code deal.
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Steve Clayton, expert at Hargreaves Lansdown stockbrokers, stated the current trading declaration from Ladbrokes was motivating, but the genuine concern was whether the merger with Coral would be enabled: "A merged Ladbrokes and Coral will have a dominant retail position, even if numerous shops have actually to be sold.

"We anticipate considerable expense conserving will be possible since there will be huge locations of overlap and unneeded duplication of functions throughout the combined service."

Ladbrokes is pursuing a various method to that of its rivals by concentrating on customer care and the periodic punter, who will not necessarily hunt for the very best chances.
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Mr Clayton stated: "The bookie's method is to focus on the 'recreational punter', simply put the still soft and malleable, unhardened gamblers out there.

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