Ladbrokes suffers "worst Cheltenham ever"
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https://www.bbc.co.uk/news/business-36099387
Funny how they are pointing the finger at other bookies for offering better prices/offers. I remember a lot us saying during Cheltenham that Ladbrokes odds were absolute trash. Also love the £3m liability they have if Leicester win the league, lets hope they do.
+0April 21, 2016 at 9:55 am
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Leicester will win it and i will laugh hard everytime i walk past ladbrokes (FACT)
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I find it hard to believe bookies will be much out of pocket if Leicester win the league – I think it’s all for show and comparable to when they put in the press about someone hitting £100k on a £2Acca ; it’s designed to drum up interest in these kind of bets.
I guarantee that next season they will take a lot more bets on outsiders, and it will work out well for them!
For every £1 placed pre season on Leicester at 1000-5000/1, how much did they take on other teams?? They will have had thousands more people backing City, Chelsea, Arsenal, Liverpool, Man U, Spurs – probably with bigger bets, and they’re all going to lose!
It’s mind games!
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Yep. Poor bookies. Hidden agenda being to play the poor downtrodden company so the competition commission are more likely to green light their proposed Coral merger.
+0What a real shame for Ladbrokes. Never mind, once they tie up with Corals that will make all the difference!!
What a set of jokers!!+0You are spot on with your comments Blank.
+0Yea I am pretty sure they have a far bigger liability if the likes of United, City and Chelsea wins the league.
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Bang on the money there Blank!
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Interesting analysis from that HL guy, hoping recreational punters are too lazy/stupid to notice their poor odds. As if I didn’t already have a low enough opinion of Ladbrokes.
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Just to put some figures on it.
Paddy power advertised that 19% of the money was on Chelsea last year. Their odds were 2.87. So they won and if you do the figures the bookie kept 45% of all money placed on that market which I’m sure is HUGE.
They also advertised that 2.2% of the money was on all the teams outside the top 5. Some popular teams like Everton and spurs probably made up most of that 2% so there can only be a fraction of a percent on teams like Leicester….
That was for 2014/2015 season though. Don’t think they released the same data for 2016 but sure it’s similar.
It’s swings and roundabouts. Sometimes they win sometimes they lose but in the end the odds are stacked in their favour (they are the ones that make them up!) so if they lost a little on Leicester winning this year then they won enough on Chelsea winning last year to more than cover themselves.
I think that’s a poor moan from ladbrokes to be honest.
+0There was a guy on 5 Live from Ladbrokes on the radio not long ago talking about Leicester and saying that it’s the biggest sporting upset in history if they win. 5000/1 will be the largest single bet ever. He also said that their liability was going to be 10 million but not to feel sorry for them as they had the book balanced by the huge amount of money taken on the other teams especially “the big 5”.
As Fog said, swings and roundabouts.I think they only really lose money when the favorites win tbh and even then they build in a profit margin. I.e. look at the difference between their odds and the exchanges. They’re building in commission to every bet.
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