All About Betfred

Betfred is among the more iconic names in the bookmaking industry in the UK. The company was established by brothers Fred as well as Peter Done in 1967 and since then have grown to become an institution in the gambling business.

The high street is still an integral component of the business for Betfred and this is why they have more than 1,300 betting stores operating. It’s also quite rare how the Betfred brand has remained on their own and haven’t participated in any major mergers throughout their history.

High Street Betting Shops

Betfred is one of the few bookmakers who are still very popular on the high streets at the minute. They resemble a brand that are keen to keep the tradition which have served them well as well, and even though they offer an excellent online sportsbook, their high street is where they feel the most comfortable.

Betfred offers more than 1,300 betting shops across all of the UK as well as Ireland. A annual turnover of PS8 billion every year is how powerful they are and with it, they’re a name which is focused on keeping the high-street betting industry.

The high street presence has always been on that’s grown in the last few years. Whilst expansion has levelled off in the past couple of years, since 2003 they’ve managed to add an additional 1,000 shops. They are among the few businesses that are going against the norm of selling off the high street stores to make way for the internet, and they are performing well at it.

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On the Internet

The online betting segment of the industry has been extremely successful. It’s certainly the way in which the company earns most of its revenue these days and they are often thought of as one of the biggest online bookmaker.

If we’re being honest, the website is a bit unsatisfied in the current atmosphere. The website is looking old-fashioned and we feel that it’s in dire need of a bit of a makeover. The best way we’ve saw it described was ignored, and that’s exactly what we believe it to be. There’s nothing particularly negative about it, but when you compare to the likes of bet365 and BetVictor, there is certain to be something lacking in terms of design.

The information on the site from a wagering perspective is quite good. They’re a huge hit with the horse racing and football fanatics So if you’re keen on either of these two sports, you’re going be made at home.

They offer numerous features you won’t find in retail stores on the high street for example, cash-out betting live stats and live betting streaming, numerous betting promotions, a wide array of sports and also an integration between their casino, poker and bingo sites. Don’t forgetthat these are accessible through their mobile betting app also!

About Betfred

The Betfred brand was born from the back of two brothers, Fred Peter Done and Fred Peter Done. The two brothers were born into gambling families and in the 50s and 60s , pair often worked as runners for their father’s betting firm of the day. They would frequent local pubs and factoriesto collect bets and then go back to work with said bets.

This was before betting shops had been legally legalized. However, the done brothers did not actually launch a a shop of their own until 1967, some 6 years later after the restrictions on high street bookmakers was lifted and several years after the brands such as William Hill and Ladbrokes had expanded in the market.

They were able to open their first store on result of a winning bet on England winning in the 1996 World Cup. They put their money into a shop that was located in Salford, Manchester and the rest according to them, is the story of history!

Expansion

The company was unable to grow as fast of some of the bigger companies, but Fred as well as his son Peter recognized this and were pleased to enjoy their own place within the city of Manchester. The nimble couple were always coming up with new concepts to bet markets, and finally creating the concept in 1984 of Lucky 15 in 1984. The same bet is popular today just as it was back then and is often seen as the first real innovation within betting markets. It also gave way to so many more that followed.

By 1997 the company had broken the 100 shops market and by this point they were beginning to gain traction. The most famous strategies was to cash out early on certain markets of betting. This was their first attempt to do this in 1998 when they paid Manchester United to win the Premier League. Unfortunately for them, Arsenal managed to pip them to the post, creating a immense excitement around the brand.

Acquisitions

As Betfred was growing, in 1999 they were able to complete their first acquisition. It was 40 shops belonging to the Demmy Racing Group. By 2005 they now had more than 50 shops to their name, and they also made the first betting shop millionaire the previous year.

Moving Online

In 2004, the company was fully operational. They were sponsoring some of the world’s biggest sporting teams – Manchester united – as well as some of the most prestigious sporting events including the Group 1 Sprint Cup, Group 2 Temple Stakes – in the world.

In 2006, they had already made the move mobile, becoming one of the first bookmakers to do so and then just three years later revealed that they now owned a staggering 800 betting shops, seeing huge growth over a 10 year time frame.

The Tote

2011 saw Betfred’s biggest acquisition, which was the Tote with a value of PS265 million. Betfred were selected from a list of companies who had submitted an application to purchase the business with the help of the Government. As part of the deal it was stated that a part of the cash would go back to taxpayers, and to horse racing charities.

But, since 2011, Betfred’s involvement with the Tote haven’t been always that popular from people inside the industry. They’ve been frequently criticized for not putting enough money to the industry and there have been consortiums formed to try and by back the company so that they can have more funds to be giving to race charities. However, Done does refute the claims, staking that they have never been in a better position in regards to the money that is invested back into the Tote.

Current Growth

Betfred is a company that is continuing the make some truly positive strands even in the current competitive environment which we live in today. It’s probably true that they’re not as successful as fast as they did in the past, especially going from revenue figures of PS550 millions to PS3.5 billion in just one year in 2004. However, the business is quite different than it was, so we wouldn’t expect for them to be the same.

The work that Betfred has put into sport like horse racing and snooker as well as football, is worthy of praise. They have been able to invest millions into these games at a an era when, in particular, the horse racing and snooker games, they urgently needed an injection of energy.