Betfred

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Betfred
Type Private
Industry Betting and gaming
Founded 1967
Headquarters Warrington
Website http://www.betfred.com

Betfred is a United Kingdom-based bookmaker, named after its co-founders Fred and Peter Done.[note 1] It was first established as a single shop in Ordsall, Salford, in 1967. Its turnover in 2004 was more than £3.5 billion, having risen from £550 million in 2003.[1] The company has more than 1,350 betting shops.[2]

Its head office is in Birchwood, Warrington. The managing director is John Haddock who started with the company as a regional manager.

Fred Done was the first ever bookmaker to pay out early (i.e. before the result was guaranteed), when in March 1998 it paid out to gamblers who had bet that Manchester United would win the Premier League, only for Arsenal to pip United by one point. Betfred also paid out early on Manchester United [3] to win the 2011–12 Premier League title, only for Manchester City to beat them on goal difference.

During the 2004–05 FA Premier League season, Done lost £1m to fellow bookmaker Victor Chandler after staking that amount that Manchester United would finish higher than Chelsea.[4]

Sponsorship

Betfred shop in Manchester

Betfred sponsor Haydock Park Racecourse including the Group 1 Betfred Sprint Cup in September. Betfred also have an on course betting shop at the North West track. Betfred also sponsor races at Kempton Park Racecourse and provide an on course betting facility. Betfred are main sponsors of three greyhound tracks Nottingham Greyhound Stadium, Owlerton Stadium, Sheffield and Kinsley Greyhound Stadium.

Betfred are also the official betting partner of Wembley National Stadium and operate betting booths for all England and Football Association matches. Betfred have recently extended this deal for a further four years.

Betfred.com are also the current sponsors of the World Snooker Championship held at the Crucible Theatre Sheffield each year.

The Tote

On 3 June 2011 Betfred bought The Tote in a deal worth £265m.[5] The company pledged £155m into racing over the next seven years,[6] as well as creating the Tote Racing Development Board, giving greater say to industry figures.[7] Football manager and racehorse owner Sir Alex Ferguson had lent his support to Betfred's bid.[8]

References

Explanatory notes

  1. ↑ Pronounced to rhyme with "bone".

Notes

  1. ↑ "Betfred's Fred Done". Inside Edge Mag. 2005-06-11. Retrieved 2010-05-06. 
  2. ↑ Free Betfred: Shops List
  3. ↑ "Betfred likely to be red faced". 2012-05-13. 
  4. ↑ Yakub Qureshi (2005-04-18). "£1m payout, but bookie Fred is still smiling - News". Manchester Evening News. Retrieved 2010-05-06. 
  5. ↑ "The Tote sold to Betfred for £265M". 2011-06-03. 
  6. ↑ "Betfred buys the Tote". iGaming Business. 
  7. ↑ "Betfred offers Tote advisory role to racing industry". Manchester Evening News. 2011-05-22. Retrieved 2011-05-23. 
  8. ↑ "Sir Alex puts his money on Betfred in Tote race". This Is Money. 2011-05-22. Retrieved 2011-05-23. 

External links

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