Mr. Ogden is the founder of Ladbrokes and is widely regarded as the first man who tried to open the doors of gambling in the UK.
In the early 18th century, he started as a professional who was ready to offer prices for each and every horse. Back then, horse racing was limited to individuals-primarily for horse owners and their friends and relatives.
The Gaming Act of 1845 emphasised that transactions should be made in cash. This resulted in a lot of chaos and confusion. The situation changed with the 1853 Act. In 1866, Pennington and Schwin entered into a partnership with the betting agents.
Arthur Bendir joined the pact of two in 1902 and thus, Ladbrokes was formed. Bendir changed the strategy of the company. He laid emphasis on being a bookmaker as well as a punter.
Subsequently, he also focused on forming a niche clientele. This move paid off and the company attracted rich clients in the years to come. Started out of London, the company shifted base first to Hanover Square in 1906 and then to Burlington Street in 1913.
Bendir had a keen eye of talent. He recruited Helen Vernet who went down in history as first lady bookmaker and succeeded immensely in her job.
Enter Cyril Stein…
Business flourished in the next few years, but it quickly dipped post the world war and depression. Stein acquired the company in 1956 and made some smart business moves.
His first master stroke was to increase his client base. Ladbrokes was now open to the general public. Another one of his brilliant move was to sponsor events. The business took off when there was a change in the law 1961, which favoured the general public.
The company took huge hits in the next few years due to some unexpected betting results in football and general election. In 1967, Ladbrokes went public with a valuation of over 1 million.
The Start of Acquisitions…
The next two decades saw the company growing at an exponential pace.
With the acquisition of London and Leeds development, Ladbrokes forayed into construction business throughout Europe. They started building expensive hotels with a keen focus on casinos.
Its association with William Hill and Coral in the subsequent years also proved fruitful for the company. The acquisition of Le Tierce gave the company access to a betting chain with 400 outlets.
Ladbrokes kept diversifying its business and evolved as the market leader in the gambling space with strong foothold in constructions.
Deregulation and Further Expansion…
The deregulation led to another opportunity for the group.
Online lotteries and the sudden shift of gambling to online space gave the company another boost. The hotel business was sold off to the Hilton group for the sake of revival.
In 2003, Ladbrokes opened around 2,000 retail betting outlets across the globe. It now offers one of the most popular websites around. If you are looking to sign up to the site check out this site as you will find promo codes that will give you more money to play around with.
In 1993, Cyril Stein, the man who transformed the business and made it what it’s today, retired, while Richard Glynn was appointed as the CEO of the group in 2010.