Betfred are among the most famous names within the world of bookmaking in the UK. It was founded by brothers Fred Peter Done and Fred Peter Done in 1967 and since then have gone to become an institution within the gambling industry.
The high street is still an integral part of the business of Betfred and this is why they have more than 1,300 betting shops in operation. It’s also rare to find that Betfred brand stands on their own and hasn’t been a part of any major mergers throughout their history either.
High Street Betting Shops
Betfred are one of the few bookmakers who are still prominent on the high-street at the minute. They almost feel of the kind of brand that wants to continue in the traditions that served them so well and while they serve an excellent online sportsbook, their high street is where they are most comfortable.
Betfred boasts more than 1,300 betting shops in their territory in the UK and Ireland. A annual turnover of PS8 billion annually shows the extent to which they have a significant impact and, with that, they’re a company that is working hard on maintaining the high-street betting industry.
The presence of the high street has always been on that’s increased in recent years. While the growth has slowed over the last couple of years, in 2003 they have managed to add another 1,000 shops in total. They are among the few who are going against the conventional wisdom of not cutting down on high-street shops in favor of online, and doing a great job in the process.
On the Internet
The online betting segment of the industry has been very successful. It’s undoubtedly the way in that the company earns the majority of their revenue in the present and they’re often thought of as one of the most prominent online bookmakers.
If we are being honest, the online site is a bit left to be desired in the current climate. The site has become rather dated, and we believe it is in need of a bit of a makeover. The best way we’ve heard it being described is unappreciated and exactly that’s the thing we’re thinking of. There’s nothing inherently negative about it, but when you compare to Bet365 and BetVictor, there’s certainly something missing in the design department.
The actual contents of the site from a betting standpoint is actually very good. They’re a huge hit with horse racing and football enthusiasts If you’re interested in either of these two sports, you’re likely be made to feel very welcomed.
They have the ability to provide numerous features you cant get from the high street stores like cash-out betting live statistics live betting, live streaming, stacks of betting promotions, an extensive selection of sports and a link between their casino, poker and bingo sites. Remember, all this is available via their mobile betting app too!
About Betfred
The Betfred brand was born from the back of two brothers, Fred And Peter Done. The two brothers were born into a gambling background and throughout the 50s and 60s the pair would often work as runners for their fathers gambling firm of the time. They would visit local bars and factories, collect bets and then report back to the office with their bets.
It was long before betting shops had been legalized. However, the done brothers were not able to open the opening of their own shop until 1967, which was six months after the prohibition on high street bookmakers had been lifted . This was several years after brands like William Hill and Ladbrokes had grown in the book industry.
They could afford to buy their first shop on the success of a bet on England to win at the 1966 World Cup. They put their money into a store situated in Salford, Manchester and the rest is, as they say, is history!
Expansion
The company was unable to expand as quickly that some of the larger brands however Fred and his brother Peter recognized this and were glad to have their own turf within the city of Manchester. The nimble couple kept coming up with innovative ideas for betting markets, eventually coming up with the launch in 1984 of Lucky 15 in 1984. The same betting strategy is in high demand today, just like it was in 1984 and is frequently regarded as the first major innovation within betting markets. It also set the stage for many that followed.
By 1997 , the company had broken through the 100 shops market and at this point, they really began to gain ground. One of their most famous market ploys was to pay early on certain markets of betting. It was the first to make this happen in 1998 paying on Manchester United to win the Premier League. Unfortunately for them, Arsenal managed to pip them to the post, creating a an enormous buzz around the brand.
Acquisitions
As Betfred continued to grow as they grew, in 1999 they could make their first acquisition. It took the form of 40 shops of Demmy Racing Group. Demmy Racing Group. By 2005 they now had over 50 shops their name and also created the first millionaire betting shop the year prior.
Moving Online
In 2004, – the company were fully online. They were patronizing some of the largest sporting teams like Manchester united Manchester united – as well as some of the most prestigious sporting events such as the Group 1 Sprint Cup, Group 2 Temple Stakes – in the world.
In 2006, they’d been mobile, and became one of the first bookmakers to go mobile and then just three years later announced that they now had over 800 betting shops that saw massive growth over a 10-year period.
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The Tote
2011 saw Betfred’s biggest acquisition in the form of the Tote for a price of PS265 million. Betfred was actually selected from a shortlist of businesses who had submitted an application to purchase the company with the help of the Government. In the agreement, it was stipulated that some of the money was to be returned to taxpayers and to horse racing charities.
Since 2011, Betfred’s handlings with the Tote haven’t always been well-liked by those in the race industry. They’ve been frequently criticized for not putting enough money back into the industry and there have been numerous consortiums created to try to back the company so that they can have more funds to be giving to charities that support racing. However, Done does refute the assertions, asserting that they have never been more advantageous in regards to the money that is invested back into the Tote.
Current Growth
Betfred remain a brand that continues to create certain positive strands even in the current competitive environment that we live in. It’s probably true that they’re not growing as fast as they did in the past particularly when they went from revenues in the range of PS550 million up to PS3.5 billion in a single financial year back in 2004. But, the market is quite different than it was back then therefore we shouldn’t anticipate to see them grow like that.
The work Betfred has done for sports like horse racing, snooker , and football is worthy of praise. They’ve managed to invest millions into these games at a time where, especially with the horse racing and snooker games, they urgently needed an injection of life.