GVC Holdings has announced that its UK brands namely Ladbrokes, Coral, and Betdaq have been removed from the Oddscheker price grid. This is following the inability of GVC Holdings and Flutter Entertainment, owners of the bet comparison service Oddschecker, to reach an agreement on a satisfactory renewal deal.
Leaving for Commercial Reasons
Over the last one year, all attempts made by GVC Holdings to renew its contract with Flutter Entertainment had hit a brick wall, just as the previous contract which had run for two years was set to expire. Springbet, another brand owned by GVC Holdings is set to remain on the Oddschecker grid as it does not run on the same contract as the others.
The Official Statement from GVC Holdings reads;
“We would like to wish Oddschecker the best of luck and thank them for the positive relationship we’ve enjoyed over the years we’ve worked together. Sadly we couldn’t agree on commercial terms to renew the relationship, so as of the 9th of July, our UK digital brands will no longer feature on the service.”
Oddschecker’s Global Media manager, Toby Bentall, was quoted by EGR as he voiced his dissatisfaction with the outcome of the negotiations with GVC Holdings. He stated that the company aims to maintain an equilibrium between business relations and commercial growth. Mr. Bental espoused hopes that the three brands can re-join Oddschecker in the not so distant future.
“It is disappointing to no longer be working with Ladbrokes, Coral, and Betdaq. However, Oddschecker needs to maintain a careful balance between serving its users with the best odds and offers while ensuring its business relationships are of sufficient commercial viability to allow investment in the market-leading products and technology expected of the UK’s number one odds comparison site. Oddschecker sincerely hopes to work with Ladbrokes, Coral and Betdaq again in the future”
For Oddschecker, the loss is substantial since Ladbrokes and Coral are ranked 3rd and 10th on the Oddschecker grid. The grid enables bettors to find the best possible offers across 23 distinct operators all of whom pay Oddschecker rev-share fees for client referrals. The operators also pay a set amount to Oddschecker monthly to place their business on the grid.
GVC Holdings-owned Coral and Ladbrokes betting shops reopened for customers across the UK on June 15, after being closed for three months following the government’s March 2020 directive that businesses should stop all non-essential operations to check the spread of the coronavirus pandemic.
This will not be the first time Ladbrokes will be leaving a grid as they had been made to leave the Price grid in 2011. They were able to find their way back after a one-year hiatus. It remains to be seen whether lightning will strike a second time and Ladbrokes will be back on the Oddschecker grid within 12 months.