Ladbrokes Opens Concept Betting Shops to Recoup Losses over FOBT Stake Cut

The last of the two new Ladbrokes concept betting shops was opened on Stephenson Street in Birmingham on Thursday, December 19. The first one – Coral shop – was launched earlier this month at Warren Street. 

Tough Times for the UK’s Sports Betting

The two outlets are opened at a moment when the UK’s betting shop industry has been undergoing serious difficulties after the government  reduced to £2 from £100 the maximum stakes on fixed-odds betting terminals (FOBTs). The step was taken after yearslong pressure on the government from anti-gambling campaigners due to  serious concerns that people who gamble could lose big sums for a very short period of time.

As a result, the FOBT stake cut decision was officialized on April 1 this year and since then more than 1,100 betting shops have been closed down and even more are expected to shut doors in the upcoming years. 

Analysts claim that most closures are expected in shops in urban areas, in which the machines are used mostly by young customers.

By  implementing cutting-edge betting concepts the company is trying to compensate for their significant so-far losses. 

Ladbrokes Coral, which was established in 2016 after the merge of Coral and British bookmakers Ladbrokes was acquired by  GVC Holdings last year. It is now the owner of the biggest betting shop chain in Great Britain Ladbrokes Coral  which also makes it one of the companies to be suffering the most from the FOBT stake cut.

New Technologies Become the Betting Shops’ Lifeline

Bejay Patel, the strategy and business development director of Ladbrokes Coral for UK said:

“We are really excited to unveil our new Coral shop concept at Warren Street. The new concept shop has pushed the boundaries in terms of design whilst incorporating some of our latest technology, to create an enhanced experience for our existing customers whilst also appealing to a new generation of customers.”

His words are nothing short of the truth as the shops offer some of the newest technology such as self-service betting terminals and products of Racing Post – the well-known British racing and sports betting publisher. 

The outlets are equipped with the so-called “departure board” that shows the future races as well as a new sports screen which is the latest interactive version of the Racing Post’s Digital Betting Shop Display.

Patel also explained that the customers’ feedback about the Coral new concept shop have been terrific which has made the whole shop’s team extremely proud.

Racing Post group sports director Ben Clissitt also shared his positive sentiment about the partnership with Ladbrokes Coral stating it was absolutely exciting to help Ladbrokes with their concept shops.