Ladbrokes improves its odds with better reporting. By John Stokdyk
Ask Ladbrokes Group systems accountant Gary Bladon about the most important professional issue he faces and he will reply in all seriousness, "What won the 4pm at Cheltenham?"
As a listed gaming and betting company, Ladbrokes' financial performance depends almost entirely on chance. "Our traders do a lot of what if analysis to try and balance our liabilities," says Bladon. "The only way we can influence the bottom line is to minimise the risks by laying off large bets. Sometimes they go for you, and sometimes they don't."
Horse races are extremely difficult to forecast.