Betting firms make profit

Betting firm Ladbrokes has released their financial results for the half-year and showed an increased in their profit. This is mainly due to some surprising results in the Premier League as well as the Euros in France. Although the betting firm has had to pay some big money to people that have backed Leicester City to win the title, they have made more than that on betters that have lost their money.

Indeed there are not many people that would have predicted that Leicester City would have won the league except some die-hard fans. Most of the punters will have spent money on clubs such as Manchester City, Manchester United, Chelsea, Arsenal or Liverpool. There are also some outsiders that have caused upsets during the league, and this has resulted in the firm making an impressive profit.

The firm also believes that Leicester City’s victory will also boost the betting industry. A spokesman said that many people would want to try their luck by betting on some underdogs, and this can cause an increase in the amount of betting. There is also the possibility that new people will try their hands at betting as the news that Leicester City’s fans have made big money through betting have been reported in the media.

However, he believes that this trend will not continue for long as people will sooner or later realize that they are losing their money on difficult bets.

This good performance at football helps the company offset the lost that they made in other sports. Indeed the firm has experienced some hefty loss at horse racing where all favorites have been winning, and not many people have been betting on outsiders. They will be hoping that this trend will continue so that they can recover from the disastrous start in the financial year.