Betting stocks tumble on TV advertising ban

Betting company shares including those of Paddy Power-Betfair fell on the back of the leading players in the UK market agreeing on a ban on television advertising during live sporting events.

Few stocks escaped a global rout, yesterday. Nevertheless, the main UK-focused betting stocks all tumbled. Paddy Power-Betfair was down by close to 3%; Ladbrokes-Coral owner GVC fell over 5.6% and William Hill shed nearly 3% of its value.