High-rollers boost Ladbrokes in tough year for the bookies

LONDON, England -- As reported by The Guardian: "Bookmaker Ladbrokes posted a 45% jump in profits ...thanks to rapid growth in over-the-phone bets and big revenues from betting shop roulette machines.

The chain said pre-tax profits increased to £344.2m in 2007 from £238.1m a year earlier as profits from its so-called fixed-odds betting terminals (FOBTs) rose by more than a fifth once payouts on winning bets were deducted.

"High-rolling customers also boosted the overall business, particularly with bets over the phone, and that helped offset slower over-the-couter business as a wet summer made many horse and greyhound races a washout.

"...Profits from online betting sites were also up sharply but Ladbrokes conceded that traditional betting at its shop counters had a harder time..."