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Cheltenham good for online gambling punters

By mr-gambling on 2016-05-06 09:16:51

The general gambling news is reporting that Cheltenham was very poor for the bookmakers which has no problem with as that means that online gambling players did well and made profits but interestingly Ladbrokes is blaming other companies such as William Hill for driving odds up in order to increase customers but then losing more as the favourites continued to win. Gambling online when festivals such as Cheltenham or the Aintree Grand National meeting are on is big business and they are the highlights of the horse racing gambling world where results can influence bookmakers profits for the year. According to the gambling news Ladbrokes was able to recover the losses due to favourable football results and the Aintree festival. William Hill however issued a profits warning within a week of Cheltenham finishing simply suggesting in the gambling news that larger companies suffer larger losses when results go against them. William Hill is of course larger than Ladbrokes at the moment although the long awaited tie up with Coral could change that. Ladbrokes confirmed that the efforts to turn around last years loss are on schedule and that improvements to the online gambling division where growth is required are progressing. The merger with Coral is still with the Competition and Markets Authority which is widely expected to block the merger unless a number of betting shops are sold. That in itself is interesting as Ladbrokes has clearly stated its intention to grow online gambling at the expense of betting shops so it might not care too much about loss of shops. In the meantime hopes that Irish gambling enthusiasts backed as many of Willie Mullins winners as possible at Cheltenham and made a tidy profit thanks to competitive odds on offer. The jumps season draws to a close but there is plenty of flat racing over the summer to keep all online gamblers busy.