As part of its plan to counteract the upcoming reduction in the maximum stake for Fixed Odds Betting Terminals (FOBTs) Ladbrokes Coral have revealed that their best-odds guaranteed offer that applies to all retail bets will be extended. Customers will now be able to benefit from the offer from 8 am, which has also been extended to include lay-to-lose bets.
Speaking to the Racing Post about the offer, the PR Director for Ladbrokes Coral, Simon Clare, said that it was a signal of intent for the company as they prepare for the reduction of the FOBT stake, which will be implemented from April 1.
“There is no question that a seismic change in our betting shop business is going to occur when the FOBT stake restrictions come into force, but we are now taking pre-emptive action with the launch of this significant betting shop offer, which will boost our horse racing business and also our betting shop footfall as we prepare for the challenge ahead.”
It is also reported that both Ladbrokes and Coral will be investing significant effort into publicising the offer extension through social media and betting shops.
The cut in the FOBT maximum stake from £100 to £2 is expected to have a significant impact on revenue for all high street bookmakers. Ladbrokes Coral have previously suggested that it would lead to as many as 1,000 betting shops closing.
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