Betfred is among the most famous names in the bookmaking industry in the UK. It was founded by the brothers Fred as well as Peter Done in 1967 and since then have gone to become an institution within the gambling business.
The high-street is an integral aspect of business for Betfred and consequently, they have more than 1,300 betting stores operating. It’s also rare this regard that they’re the Betfred brand are still standing on their own and haven’t taken part in any major mergers within their history.
High Street Betting Shops
Betfred are among the few bookmakers who are still popular on the high streets at the minute. They resemble the kind of brand that wants to keep the tradition that helped them succeed and, while they do offer an excellent online sportsbook, the high street is where they are most at ease.
The company offers more than 1,300 Betfred near me shops across the UK and Ireland. The company’s sales volume of £8 billion annually shows just how influential they are and with it, they’re a name which is working hard at maintaining the high-street betting industry.
The high street presence has been there for a long time and has grown in the last few years. The expansion has been slowing in the past couple of years, in 2003 they’ve managed to add more than 1,000 shops. They are among the few businesses that are going against the conventional wisdom of not moving away from high street stores to make way for onlinestores, and doing well at it.
On the Internet
The online betting portion of the business has been extremely successful. It’s undoubtedly the way in which the company earns the majority of their revenue in the present and they’re frequently regarded as one of the major online bookmaker.
If we are being truthful, the site is a bit left to be desired in the current climate. The site has become rather dated, and we believe that it’s in need of revamp. The best way that we were told about it is ignored, and that’s exactly the thing we’re thinking of. There’s nothing inherently wrong with it, but when you compare to the likes of bet365 and BetVictor, there’s certain to be something lacking in the design department.
The actual contents of the site from a wagering perspective is quite good. They’re extremely popular with football and horse racing fanatics So if you’re interested in either of these two sports, you’re likely to be made extremely welcome.
They offer many features aren’t available at retail stores on the high street, such as cash-out betting, live stats as well as live betting streaming, numerous betting promotions, a huge variety of sports, and links between their poker, casino and bingo websites. Don’t forgetthat these are accessible through their mobile betting app too!
About Betfred
The Betfred brand was born from out of the two brothers Fred and Peter Done. The pair were born into a gambling background and throughout the 50s and 60s , pair often worked as runners for their fathers gambling firm of the time. They would go to local bars and factories, make bets, and then report back to the office with the money they had collected.
All this was before betting shops were made legal. But, the done brothers were not able to open a shop of their own until 1967, a few years later after the restrictions on high-street bookmakers had been lifted . This was several years after brands like William Hill and Ladbrokes had been growing in the business.
They were able purchase their first store on after a successful bet on England to win in the 1996 World Cup. They invested their funds into a shop that was located in Salford, Manchester and the rest according to them, is the story of history!
Expansion
The company wasn’t able to grow at the pace of some of the more prestigious brands, but Fred along with his twin brother Peter recognized this and were happy to just be their own in the Manchester. However, the creative pair were constantly coming up with fresh ideas to bet markets, and finally creating the concept of the Lucky 15 in 1984. The same betting strategy is as popular today as it was in 1984 and is often regarded as the first real innovation within betting markets, and it opened the door for so many more that followed.
By 1997 the company had broken through the 100 shops market and a this point they began to gain traction. A major and well-known tactics was to cash out early on certain markets of betting. This was their first attempt 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, generating huge buzz around the brand.
Acquisitions
As Betfred continues to expand as they grew, in 1999 they made their first acquisition. It was 40 shops owned by the Demmy Racing Group. In 2005, they had more than 50 shops to their name, and they also made the first betting store millionaire in the year before.
Moving Online
In 2004, – the company were fully operational. They were sponsoring some of the biggest sporting teams including Manchester United Manchester united, and several of the biggest sporting events – Group 1 Sprint Cup, Group 2 Temple Stakes – in the world.
By 2006, they had already made the move mobile, becoming one of only a handful of bookmakers to do so in the year 2006. Three years later, they declared that they owned over 800 betting shops and saw huge increase over a 10-year time frame.
The Tote
2011 saw Betfred’s largest acquisition in the form of the Tote with a value of PS265 million. Betfred was actually selected from a shortlist of businesses that had applied to buy the business with the help of the Government. As part of the deal it was stated that a portion of the proceeds would be given to taxpayers and to horse racing charities.
Since 2011, Betfred’s handlings with the Tote aren’t always popular from people inside the race industry. They’ve been criticized for not putting enough money back into the racing industry, and there have been numerous consortiums created to attempt and back the business to allow more money to be donated to race charities. But, Done does refute the claims, staking that they’ve never been in a better position in regards to the money that is invested from the Tote.
Current Growth
Betfred remain a name which is still making certain positive strands even in the age of competition which we are living in now. It’s probably true that they’re not as successful as fast as they did in the past and especially when you compare the revenue in the range of PS550 millions to PS3.5 billion in a single year of financial activity in 2004. But, the industry is quite different that it was in the past therefore we shouldn’t anticipate to see them grow like that.
The work Betfred has done for sport like horse racing, snooker and football is worthy of praise. They’ve been able plough millions back into these sports , and at a an era when, in particular, the horse racing and snooker games, they needed a jolt of vitality.