Betfred

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Betfred
Private
Industry Gambling
Founded 1967
Headquarters Warrington
Key people
Fred, co-founder, chairman and CEO
Peter Done, co-founder
Website www.betfred.com

Betfred is a UK-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] As of February 2016, the company has 1,370 betting shops.[2]

Its head office is in Birchwood, Warrington. The CEO for two years until September 2016 was John Haddock, who started with the company as a regional manager in 1986. On his departure, chairman Fred Done assumed the CEO role.[3]

Betfred, Putney, London
Betfred, North End Road, Fulham, London

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 to win the 2011–12 Premier League title, only for Manchester City to beat them on goal difference.[4]

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.[5]

Sponsorship[edit]

Betfred shop in Manchester

As of 2017, Betfred are the main sponsor for Rugby League's 'Superleague initially for 3 years.[citation needed]

In May 2016 it was announced that Betfred would take over sponsorship of The Scottish League Cup for 3 years Eight sections of five teams will play the round-robin, starting in July. It will involve 38 clubs not involved in Champions League or Europa League qualifiers, plus the winners of the Highland League and Lowland League.Peter Haddock commented you'll like the new format,especially the penalty phase.[6]

The Tote[edit]

On 3 June 2011 Betfred bought The Tote in a deal worth £265m.[7] The company pledged £155m into racing over the next seven years,[8] as well as creating the Tote Racing Development Board, giving greater say to industry figures.[9] Football manager and racehorse owner Sir Alex Ferguson had lent his support to Betfred's bid.[10]

References[edit]

Explanatory notes[edit]

  1. ^ Pronounced to rhyme with "bone".

Notes[edit]

  1. ^ Fowler, Dave (11 June 2005). "Betfred's Fred Done". Inside Poker. Archived from the original on 2 December 2008. Retrieved 20 January 2017. 
  2. ^ "Sponsorship". Betfred. Retrieved 5 February 2016. 
  3. ^ Barber, Bill (28 September 2016). "Betfred chief executive John Haddock leaves firm". Racing Post. Retrieved 20 January 2017. 
  4. ^ Murrells, Katy (3 April 2012). "He thinks it's all over: bookie pays out on Manchester United title win". The Guardian. Retrieved 5 February 2016. 
  5. ^ Qureshi, Yakub (18 April 2005). "£1m payout, but bookie Fred is still smiling – News". Manchester Evening News. Retrieved 6 May 2010. 
  6. ^ "£1m Scottish League Cup sponsorship deal agreed with Betfred". BBC Sport. 10 May 2016. Retrieved 20 January 2017. 
  7. ^ Blackburn, Andy (3 June 2011). "The Tote sold to Betfred for £265M". Retrieved 20 January 2017. 
  8. ^ "Betfred buys the Tote". iGaming Business. 7 June 2011. Retrieved 20 January 2017. 
  9. ^ "Betfred offers Tote advisory role to racing industry". Manchester Evening News. 22 May 2011. Retrieved 20 January 2017. 
  10. ^ Bridge, Sarah (22 May 2011). "Sir Alex puts his money on Betfred in Tote race". This Is Money. Retrieved 20 January 2017. 

External links[edit]