Ladbrokes has announced its pre-tax profits fell 66% in 2013 to £67.6 million, as it continues to overhaul its digital businesses.
As well as the slump, the company warned it will close between 40 and 50 shops this year.
The UK's second largest bookmaker blamed the hit on upgrades to its online gambling systems.
Developing gaming products used by smartphone or tablet users has taken longer than expected, the bookies said.
More top news
School fees, pricey private medical care and the fear of interest rate rises mean even those on £200,000 are feeling the pinch.
Overnight it will be cooler and fresher but most places will stay dry with a nippy start to Sunday.
X Factor contestant Raign seems to impress the Wembley audience with her own song even though Cheryl finds her "really annoying".