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Ladbrokes suffers worst Cheltenham Festival in memory
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21 April 2016
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Bookmaker Ladbrokes has actually stated this promotion code year's Cheltenham Festival was its "worst in living memory".

All bookmakers were struck by a string of favourites winning at the celebration, however Ladbrokes also argued that rivals were offering bets at levels that did not make company sense.

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

Despite this, the company stated it had actually seen a motivating start to the year.
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Revenue was more than 10% greater.

President Jim Mullen said: "At Cheltenham we were reminded of the intense competitors with offers and prices at levels which, in our view, deserted bookmaking concepts.
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"We contended hard however to pursue unsustainable strategies."

He informed the BBC betting was for his customers, not his service: "I have actually constantly stated we remain in the betting organization, we do not bet ... 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 "confident" that its outcomes would be in line with expectations.

'Recreational punter'

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

UK competition authorities are presently taking a look at the bet9ja's welcome offer.
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Steve Clayton, analyst at Hargreaves Lansdown stockbrokers, stated the most current trading statement from Ladbrokes was encouraging, however the genuine issue 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.

"We anticipate substantial expense saving will be possible due to the yohaig code fact that there will be huge locations of overlap and unneeded duplication of functions throughout the combined business."

Ladbrokes is pursuing a various technique to that of its rivals by concentrating on customer support and the yohaig code periodic punter, who will not always hunt for the best odds.
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Mr Clayton stated: "The bookmaker's technique 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 best odds need to be, so it is much easier to develop a fat win margin into the bookie's terms."