Betfred
 | |
| Company type | 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]
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
Betfred are the official betting partner of Wembley National Stadium and operate betting booths for all England and Football Association matches, and have extended this deal for a further four years. Betfred are the official betting partner of Tottenham Hotspur.[citation needed]
Betfred sponsor Haydock Park racecourse including the Group 1 Betfred Sprint Cup in September. Betfred have an on course betting shop at the North West track. Betfred sponsor races at Kempton Park Racecourse and provide an on course facility.[citation needed]
Betfred are main sponsors of three greyhound tracks Nottingham Greyhound Stadium, Owlerton Stadium, Sheffield and Kinsley Greyhound Stadium.[citation needed]
Betfred sponsored the World Snooker Championship held at the Crucible Theatre in Sheffield for four tournaments from 2009 to 2012, and from 2015 until at least 2017.[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
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
Explanatory notes
- ^ Pronounced to rhyme with "bone".
Notes
- ^ "Betfred's Fred Done". Inside Edge Mag. 11 June 2005. Retrieved 6 May 2010.
- ^ "Sponsorship". betfredcorporate. Retrieved 5 February 2016.
- ^ http://www.racingpost.com/news/horse-racing/betfred-chief-executive-john-haddock-leaves-firm/2164397/#newsArchiveTabs=last7DaysNews
- ^ 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.
- ^ Yakub Qureshi (18 April 2005). "£1m payout, but bookie Fred is still smiling – News". Manchester Evening News. Retrieved 6 May 2010.
- ^ http://www.bbc.co.uk/sport/football/36259533
- ^ "The Tote sold to Betfred for £265M". 3 June 2011.
- ^ "Betfred buys the Tote". iGaming Business.
- ^ "Betfred offers Tote advisory role to racing industry". Manchester Evening News. 22 May 2011. Retrieved 23 May 2011.
- ^ "Sir Alex puts his money on Betfred in Tote race". This Is Money. 22 May 2011. Retrieved 23 May 2011.
External links
- Official site
- Official Peter Done site
Media related to Betfred at Wikimedia Commons
