Lack of draws hit Ladbrokes
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Ladbrokes reported 15% lower revenues. They blamed poor margins on horse racing and “exceptionally low” margins on football bets, due to the low number of Premier League draws. In the first 66 games in the Premier League season, only been four draws, just 6% of the total. This compares with the five-year average of 25%.
Ladbrokes are looking to cut their near on £1bn in debt by raising £275m from shareholders, cutting this years dividend and imposing a pay freeze.
Category: Football trading strategies
