High-rollers return to Ladbrokes

After announcing in April that profits from high-rollers over the telephone was down 10 per cent for the first four months of the year, Ladbrokes have revealed that their big-wagering punters are back.

The company said it had seen “significantly increased levels” of telephone betting from high-rollers, resulting in operating profits for its telephone betting service £45 million higher for the first six months of the year compared to that time last year.

According to a Ladbrokes spokesman, the high-rollers are notoriously unpredictable but will bet on most sports from European football to horseracing. Even though it is thought they amount to only a few dozen, mostly wealthy businessmen from the Middle East, their big bets are crucial to Ladbrokes and bookmakers alike.

However, Ladbrokes’ over-the-counter business, with over 2,500 betting shops across the UK, Ireland and Belgium, continues to slowdown resulting from VAT charges, higher interest rates and competition from online gambling.

“The general slowdown on the high-street and difficult retail conditions are having an effect,” a Ladbrokes spokesman said.

Nevertheless, with the company set to announce full financial results for the first six months of the year on August 9, they continue “to trade in line with management's expectations."

Editor, Jackpot.co.uk - 2007-07-05 11:32:11

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