British bookmakers faced significant losses after I Am Maximus, the crowd favorite, secured a second victory in the Grand National steeplechase. The event generated over $202 million in turnover for bookmakers.
"I Am Maximus winning was one of our worst possible scenarios, so we weren’t thrilled by the outcome," stated Jack Shelley, Deputy Director of Racing for William Hill.
The Grand National, held annually at Aintree, is a major draw for both seasoned and casual bettors. Despite facing regulatory pressures and competition from other gambling products, the race remains vital for attracting customers.
Ladbrokes owner Entain reported the company's highest betting volumes of the year, with notable growth in betting shops. William Hill also saw year-on-year growth in its retail outlets.
Fred Done, CEO of Betfred, described the race as a "Gladiatorial Bloodbath for us bookmakers," though the company reported increased online and in-shop betting turnover.
The Grand National continues to be the single largest betting event of the year, surpassing even the NFL Super Bowl and the U.S. Masters.