Ladbrokes Coral Group shift policy on advertised printed odds27th October 2017 / lee
There has been an important shift in policy at Ladbrokes Coral Group. They have reportedly announced that it is no longer guaranteeing to strictly honour horse racing odds that have been displayed in newspaper advertisements.
In a Racing Post report, while bettors could previously have newspaper-printed odds matched up as long as the bet was placed before 8:30 am on race day, Simon Clare, Public Relations Director for London-based Ladbrokes Coral Group, reportedly labelled the practice as ‘commercially nonsensical’. Clare reportedly went on to say that served as a ‘hindrance to providing a modern and professional betting service on horseracing’.
“While the advertised price guarantee will no longer apply, we are fully committed to laying decent bets to customers on all the best races on all our betting channels,” Clare reportedly told the Racing Post.
They are not the first operator to actually address this issues. Other operators have changed policy on honouring printed odds from a newspaper advertisement. The explanation why is that it is because so many punters are using mobile and online channels well in advance now, and are using odds that are constantly shifting.
“These days more feature races than ever before are being priced up several days before the race and prices are constantly moving from the time they are first published until the race going off,” Clare reportedly told the newspaper. “Given this context, to then guarantee to lay an advert price, that was finalized some 16 hours earlier due to newspaper print deadlines, often means the bookmaker ends up with precisely the opposite position in the market to the one intended.”
The Ladbrokes Coral Group reportedly explained that it will now only honour printed odds up to a value of £5,000 ($6,577) so long the wager is placed in person at one of its venues after 9 am with the race in question broadcast live via ITV.
“Due to the challenge of trading volumes of bets in a very short time period, it’s not possible to extend such a guarantee to our digital channels,” Clare reportedly told the Racing Post.
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