April 13 (Reuters) - British bookmakers reported turnover of more than 150 million pounds ($202 million) from the weekend's Grand National steeplechase, but the victory of crowd favourite I Am Maximus for the second time hit them hard in the pocket.
Bookmakers usually profit when outsiders at long odds win major horse races rather than heavily-backed short-priced favourites.
"I Am Maximus winning was one of our worst possible scenarios so we weren’t thrilled by the outcome," William Hill’s Deputy Director of Racing, Jack Shelley, told Reuters.
The Grand National, a magnet for seasoned and occasional punters, is an annual race over fences at Aintree near Liverpool, Northern England first run in 1839.
British betting firms are facing mounting pressure from tighter gambling regulations and competition from football and online casino products, making events like the Grand National increasingly important for attracting punters.
The race drew strong betting interest, with Ladbrokes owner Entain saying it generated the company's largest betting volumes of the year, with turnover up on 2025 and particularly strong growth across its betting shops. William Hill, one of the UK’s best‑known high‑street bookmakers, also recorded year‑on‑year growth at its retail shops.
Fred Done, CEO of Betfred, an independent bookmaker, called the race "a Gladiatorial Bloodbath for us bookmakers", while his company reported a 10% rise in online turnover, with modest over‑the‑counter gains and a strong uplift in in‑shop betting terminals.
The Grand National has eclipsed the NFL Super Bowl and golf's U.S. Masters to become the biggest single-day betting event, and is expected to retain that status this year even though the soccer World Cup is taking place, Betfred said.
($1 = 0.7443 pound)
(Reporting by Yamini Kalia in Bengaluru, editing by Ed Osmond)
