Tuesday 24 April 2018

No high rollers left in Ireland

THE RIGHT SORT OF BANKER: Dunguib, with Brian O'Connell aboard, is tipped for Cheltenham
THE RIGHT SORT OF BANKER: Dunguib, with Brian O'Connell aboard, is tipped for Cheltenham
Nick Webb

Nick Webb

WITH less than two weeks to the start of the Cheltenham Festival, Victor Chandler, one of the world's biggest bookmakers, has warned that there are no "high rollers" left in Ireland.

"There's just no money in Ireland. It's destroyed. The number of bets is better, but the business is smashed. We've got no big players. Everyone seems to have been damaged," he said last week.

"Turnover is down nearly 50 per cent from its high nearly two-and-a-half years ago, but the number of bets is up," he added.

The Cheltenham Festival is traditionally one of the biggest betting weeks of the year, with an estimated €500m being gambled on the races.

Sunday Independent

Business Newsletter

Read the leading stories from the world of Business.

Also in Business