Ladbrokes Coral has announced it will no longer offer guaranteed prices that appear in the paper for a brief time on the day of the race.
Previously, for a limited period both Ladbrokes and Coral offered the prices that had been printed in the paper at 8:30am. However, as operators continue to become further detached from paper prices, Ladbrokes Coral has described the offer as “commercially nonsensical.”
Coral’s Simon Clare commented: “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.
“Given this context, to then guarantee to lay an advert price, that was finalised 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. It is not only commercially nonsensical but also a hindrance to providing a modern and professional betting service on horseracing to our customers.”
Looking ahead, Ladbrokes Coral has guaranteed to take bets on any horse running in any ITV race from 9:00am to lose up to £5,000 on the day of the race. Clare stated: “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.
“By offering this guarantee, larger-staking customers will be safe in the knowledge they can back any horse in any major race to win at least £5,000.
“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.”