High Street bookie struggles to keep up in a swiftly changing market.
If there was ever a year for Ladbrokes to expand its operations in the iGaming sphere, that year is 2014. The old High Street bookie’s online offering doesn’t rival that of competitors William Hill, BetVictor and Bet365, which now operate the most lucrative online sportsbooks in Britain.
Chancellor of the Exchequer George Osborne announced that the tax on Fixed-Odds Betting Machines (FOBTs) would increase from 20 percent to 25 percent. Much betting revenue depends on these machines, so it is especially significant to a bookie like Ladbrokes that is heavily invested on land rather than online.
The second reason is that the Football World Cup will be held this summer, and Ladbrokes will look to cash in on the increased demand for sports betting services. Bettors worldwide will look to online bookmakers to get a piece of the action.
Ladbrokes strikes deal with Playtech
Ladbrokes seems to be positioning itself nicely with its recent agreement to offer Playtech’s products on its website. It will offer a wide range of the popular developer’s casino games, giving a boost to its previously struggling casino division.
Increasing its revenue from internet gambling in Britain is a great way for Ladbrokes to diversify its overall revenue stream. Given how it has fallen behind its competitors, it’s high time it made a change for the better.