Founded in 1967 by Fred Done and his brother Peter, Betfred is a renowned bookmaker based in the United Kingdom. Boasting a rich history, the company has expanded significantly over the years and now operates over 1600 betting shops in the UK, as well as a best-in-class online casino and betting platform in the UK and Spain. This article delves deep into the world of Betfred, exploring its history, significant milestones, and various partnerships and sponsorships.
1. Company Background and History
1.1 Founding and Early Years
Betfred traces its roots back to a single betting shop in Ordsall, Salford, established in 1967. Fred Done financed the first Done Bookmakers shop using capital made from a winning bet he placed on England to win the 1966 World Cup. The company experienced a mixture of organic and acquisition growth, eventually becoming the largest independent retail bookmaker in the UK.
1.2 Expansion and Growth
By 2000, the total number of Betfred shops had risen to 200, and in 2002, the company opened its first shop in the Greater London area. Betfred.com, the company's online gambling site, launched in 2004 and is based in Gibraltar, registered as Petfre (Gibraltar) Limited. Today, Betfred operates over 1,650 shops throughout the UK and has a strong presence on 51 racecourses.
1.3 Milestones and Innovations
Over the years, Betfred has achieved several notable milestones, including being the first bookmaker to pay out early on certain bets. In 2013, the company established Betfred TV, an in-house channel available in all shops, both on the high street and on racecourses. The company has also been involved in various court cases and regulatory actions, which have shaped its growth and development.
2. Partnerships and Sponsorships
2.1 Sports Partnerships
Betfred has sponsored some of the most prestigious sporting franchises in Europe and the US, including Wilder vs Fury II, Betfred British Masters Golf, Manchester United, Super League Rugby, Scottish Premier League Cup, and many more. The company also has official partnerships with NFL teams, the Denver Broncos and Cincinnati Bengals, MLB's Colorado Rockies, and USL Championship's Loudoun United FC.
2.2 Horse Racing Sponsorship
As one of the largest sponsors of horse racing in the UK, Betfred supports races across various racecourses, including the Midlands National, Dante Stakes, and Ebor Handicap. In 2005, the company became sponsors of the Group One Sprint Cup at Haydock Park, and between 2012 and 2015, it sponsored the prestigious Cheltenham Gold Cup.
2.3 Rugby League Sponsorship
In 2016, Betfred began a three-year period as the main sponsor of rugby league's Super League, the top-level professional rugby league in the northern hemisphere. In 2021, the company re-signed an agreement with the rugby Super League Europe.
2.4 Snooker Sponsorship
Betfred has a history of sponsoring the World Snooker Championships, and in 2015, the company announced its return as the tournament's sponsor, increasing the winner's prize money to £375,000.
2.5 Soccer Sponsorships
Betfred has been actively involved in soccer sponsorships, including being the official betting partner of Manchester United from 2006 to 2013 and again ahead of the 2022/2023 season. The company has also sponsored the Scottish League Cup, Championship side Bolton Wanderers, and Spanish football club RCD Mallorca.
2.6 Darts Sponsorship
In 2019, Betfred announced its sponsorship of the Professional Darts Corporation's World Matchplay tournament until 2022, later renewing the deal until 2025.
3. Betfred's Digital Presence
3.1 Online Casino and Betting Platform
Betfred.com offers a comprehensive online casino and betting platform, featuring sports betting, online casino games, bingo, lotto, online poker, virtual sports, and pool betting. The website is licensed and regulated in Great Britain by the Gambling Commission and is further licensed by the Government of Gibraltar and regulated by the Gibraltar Gambling Commissioner.
3.2 Mobile App
To cater to the growing demand for mobile betting, Betfred offers a user-friendly mobile app available for both iOS and Android devices. The app provides a seamless betting experience, allowing users to place bets on various sports and access the online casino from their smartphones or tablets.
3.3 Responsible Gambling
Betfred is committed to supporting safer gambling and encourages its users to gamble responsibly and in moderation. The company provides resources and tools, such as deposit limits, self-exclusion, and advice on responsible gambling, to help users maintain control and minimize the risk of gambling-related harm.
4. The Tote Acquisition
In 2011, Betfred won the auction to purchase The Tote, the government-owned betting operation, in a deal worth £265 million. The acquisition granted Betfred exclusive control over the on-course betting system for seven years, pledging £155 million into racing and creating the Tote Racing Development Board for greater industry involvement.
5. Regulatory Actions and Legal Cases
Betfred has faced various regulatory actions and legal cases throughout its history. In 2016, the Gambling Commission required the company to pay over £800,000 in compensation and contributions towards socially responsible causes due to failures in its anti-money laundering and social responsibility policies. In 2019, the Commission ordered Betfred and Paddy Power to terminate new betting products that allegedly attempted to circumvent the government's enforced £2 reduction on fixed odds betting terminals.
In 2021, Betfred lost a High Court case against a customer who had won £1.7 million in a jackpot game, with the court ruling the company had to pay the winnings despite claims of faulty software.
6. Broadcasting and Media
Betfred owns TheSportsman.com, an online sports news and broadcaster established in 2017. The company has expanded its broadcasting endeavors by signing deals with the Rugby Football League to show select matches from the Challenge Cup, League 1, Women's Super League, and wheelchair rugby league.
7. Betfred's Impact on the Betting Industry
With decades of experience and a strong presence in both retail and online betting, Betfred has undoubtedly left a significant impact on the UK betting industry. The company has consistently demonstrated innovation and adaptability, ensuring it remains at the forefront of the industry despite changes in regulation and market trends.
8. Future Prospects and Expansion
As Betfred continues to grow, the company is well-positioned to expand its presence in international markets, particularly in the United States, where sports betting is experiencing rapid growth. With a strong brand, extensive partnerships, and a commitment to responsible gambling, Betfred is poised to remain a major player in the global betting industry for years to come.
9. Conclusion
From its humble beginnings as a single betting shop in Salford to its current status as one of the UK's largest independent retail bookmakers, Betfred has consistently demonstrated its ability to adapt and thrive in a competitive industry. With a robust online presence, numerous partnerships and sponsorships, and a commitment to responsible gambling, Betfred is well-positioned for continued success in the ever-evolving world of betting.
10. References
Please note that all the information provided in this article is sourced from the given reference articles and websites. For a complete list of references, please refer to the reference section of each respective article.