One of the largest gambling companies in the UK, Ladbrokes, is accused of cheating. How can this be, and what did the culprit do? Let’s find out.
The era of personalized experiences
The trend of the day is personalization. Back in the 1950s businesses tried to find one-size-fits-all solutions. Now, it just doesn’t cut it for the customers.
This is why you see Netflix offering personalized recommendations to users. It goes all the way down to showing thumbnails based on what you prefer.
Ladbrokes followed this doctrine as well but in a rather malicious way.
Different betters – different bets
What Ladbrokes did is essentially this positive practice of personalization in the wrong hands. They created a separate version of bets and betting options for each better.
If you’re an unsuccessful better, you can have all the possibilities in the world. If you show that you don’t bet based on knowledge and don’t win a lot, you can enjoy high odds. If you’re any good and win quite a lot, forget about getting decent payouts.
Betting at Ladbrokes is an excellent experience for low-success betters. Not for their wallets, though. The system is designed to make you bet more. If you lose a lot of money at once, you’ll be given a cashback opportunity. This prompts people to bet more to win back the lost funds.
You’ll also get free bets and other bonuses if Ladbrokes thinks you’re bad at betting. This encourages inefficient betters to bet more and lose more.
The betting range is controlled as well. You start with a high rating that allows placing almost any bet. As you bet successfully, you go down the rating. With that, you lose the ability to place some bets.
The results of the practice
So, Ladbrokes are keeping a close eye on all people who place bets at their websites. Usually, such a detailed look into consumer behaviour would have an appraisal by the media and by the customers themselves.
In the case of the gambling business, however, it’s a bit different. While generally, making personalized experiences benefits the customer, it’s not true of the casino industry and sports betting.
Here, this means the customer loses their money. They don’t gain anything of value from a transaction as they could at a shoes merchant’s website. Even if they buy a pair, they don’t need, and you can always sell it on craigslist. The only thing you can acquire on Ladbrokes if you spend too much is debt.
This is especially true for people with a gambling problem. Ladbrokes only makes it worse for them.
Everybody is doing it
The ugly truth is, every company that can afford to, does this. It’s just Ladbrokes happened to get under scrutiny.
No gambling company wants to lose money to betters who know their game. Mostly, the top betters are sports analysts who predict matches with knowledge and precision.
Sometimes, they’re not even people. Sports betting is a profitable industry for two parties: the bookies and the bots. There are bots these days that can best anyone in match outcome prediction.
The problem is this practice doesn’t only come at the expense of the top betters but the expense of the common Joe. It’s the people who bet on their favourite team who are encouraged to lose everything.
Follow us to learn what Ladbrokes is going to do in response.