Ladbrokes says it is suffering at the hands of the recession. Rival bookie Paddy Power is too. Meanwhile, William Hill has begun talks with its banks about restructuring its £1.2billion debt, while I hear that Cheltenham is panicking over the lack of corporate hospitality bookings for next year's Festival.
So here’s a brave move by Tote PR men Paul Petrie and Damian Walker, who have come up with the bright idea of quitting their jobs to, er, start a new bookmaking firm.
Odds on it proving a winner? Longish ones, I’d wager.