The bookmaker has hired contract publisher Aspect Media to refresh the magazine, which has a 30,000 print run. It is distributed to its database of customers and is available in its shops.
The magazine has a new editor - former Sunday Times sports editor Nick Pitt - and is increasing from 12 to 56 pages. The editorial team has also been expanded.
Ladbrokes decided to relaunch now because of this summer's high number of sporting events. Forthcoming content will include articles on the World Cup and the cricket season.
Ladbrokes' dominance of the market has come under pressure from online gambling sites such as Betfair and Sportingbet. Online poker sites have also been encroaching on Ladbrokes' core audience of young male sports fans.
The odds look good, page 26.