British bookmaker Ladbrokes indicated this week that despite shortfalls in its over the counter business, an unexpected rise in high-wager betting over the telephone in the past few weeks has helped them reach record highs in profits.
Profits from telephone betting in the first six months of 2007 rose about 45 million pounds ($90.8 million) as compared to the first six months last year. This is a huge turnaround from the news in April, when Ladbrokes reported telephone betting was down close to 10 percent from last year’s first four months. When asked for the sudden rise in telephone betting, a Ladbrokes spokesman was unaware, stating that betting has not been concentrated on a few events but has “been pretty much across the piece”.
With over 2,500 betting shops across the UK, Ireland and Belgium, Ladbrokes has managed to consistently turn profits despite changing legislation and the growing challenge from Internet gambling.
