caesars-sportsbook-casino
$1,500
Bet up to $1,500 risk free
9.9

Online Betting company Ladbrokes suffer due to Premier League Draws

img/old/news/Ladbrokes.jpg

Betting company Ladbrokes have said today that any profit made on football bets have been wiped out as not enough matches ended in a draw. The announcement stated that a £275m offer has been made available to cover their finances.

They are offering investors a new share in the company for every two they currently own for just 95p which is nearly half the price of what they were worth at the close of trading on Wednesday. Ladbrokes have said that two-thirds of their drop in profit was caused by football betting in the three months up to the end of September.

Ladbrokes saw a 9.2% drop in stock levels the steepest suffered since May 15th.

Finance director Brian Wallace said Â"It isnÂ't just trading that has led to the rights issue,Â" Wallace said. Â"We have been reviewing the capital structure since the beginning of last year.Â"

The problems have been caused by the unusual start to the Premier League this year which has seen only 4 of the first 66 matches end as a draw and punters tend to bet on a winner and not a draw.

Slot Reviews

ultimate-guide

An ultimate guide to different slots: Which one is right for you?

Read Review
betmgm-luxor-fortunes

BetMGM Luxor Fortunes

Read Review
2de19e91-5526-4fc2-a2a0-0ebba78e9565

Players can ‘Make it so' on BetMGM's Star Trek: The Next Generation

Read Review
Triple-Jackpot-Gems

Triple Jackpot Gems

Read Review