Reduced Greyhound Betting and Weakening Economies Caused Decline in Bets at Some Bookmakers

Posted by Greyhound Betting in Greyhound Betting News on 11 21st, 2008 | no responses

Ladbrokes, U.K.’s largest bookmaker by market value and Dublin-based competitor Paddy Power were believed to have had a decline in their bets or wagers received. For Ladbrokes, the decline could be because of weakening economies and reduced betting in greyhound races while for Paddy Power because of weakening economies alone.

At Ladbrokes

At Ladbrokes, the amounts staked at their shops have fell in just a span of four months. The so-called gross win, or the amount lost by gamblers, was still the same while winnings at Irish shops that just operated for a year or more have decreased by 11 percent.

Specifically at Ladbrokes’ U.K. Shops, amounts staked was affected not just by economic related problems but also by reduced betting on greyhound races as a result of “presentation issues” involving Ladbrokes decision to start taking pictures from Turf TV.

At Paddy Power

On the other hand, at Paddy Power, there is also some drops at their betting shops recorded in the last 19 weeks. Paddy Power believes that everything has something to do with the weakening economies solely, particularly in countries like Ireland and the U.K.

Basically, Ireland was the first euro-region country to experience an extended decline in general business activity or recession this year. While U.K., had a problem in her economy during the third quarter.

At bwin.com

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