NEWS
SOURCE: The Press Association
Betting shop chain Ladbrokes has reported a 25 percent jump in the amount of money staked by football punters since the start of the Premiership season.
The improvement coincides with the company's first television advertising campaign, featuring ex-players Ian Wright, Ally McCoist and Lee Dixon.
The boost from football betting meant the company's UK retail arm enjoyed a strong finish to a challenging 2007, when annual operating profits from the division fell 6 percent to £187.8 million.
The amount left by over-the-counter punters in the UK retail estate decreased by 3.8 percent to £490.9 million, which Ladbrokes said included a 9.4 percent drop in horse racing following a high number of race cancellations.
Ladbrokes offset the tougher conditions in retail through increased activity by high-roller telephone punters, as well as further growth in internet gaming.
Telephone betting achieved operating profits of £183.6 million, against £17.3 million a year earlier - helping the group achieve pre-tax profits of £344.2 million, against £238.1 million last time.
The company said the positive customer response to its first advertising campaign meant it would run further campaigns this spring to support online bingo and online casino businesses.