The agency landed the business after a competitive pitch that included the incumbent, SapientNitro. BBH has been tasked with creating a new strategy for Ladbrokes, which will launch in the spring.
SapientNitro created "The Oddsfather", an ad that spoofed The Godfather, which broke last year.
The review was called in September and led by Andy May, Ladbrokes’ brand, research and retail marketing director.
Jon Peppiatt, the deputy chairman of BBH London, said: "We are thrilled to work on an iconic British brand and help them in their ambition to be the number-one multiplatform gaming and betting destination."