Betfred on the up with £593 million profits

Manchester based bookmaker Betfred has reported £593 million in profits for the 18 month period from March 2013 to September 2014, up from £362 million for the previous 18 months.

Detailing UK media insights into its operations, Betfred reported that it recorded £13 billion in turnover for the period. The bookmaker further noted that its online gaming division had recorded a £1.9 billion boost in turnover.

Founded by Salford brothers Fred & Peter Done in 1967, Betfred is the largest independent bookmaker operating Betfred, Totepool and ToteSport brands.

To date the operator employs over 10,000 people as the operator has expanded its retail operations to 1400 licensed betting offices.

Betfred governance announced that it contributed £158 million to the Exchequer during the period, with a further £40 million paid to UK racing

John Haddock, Chief Executive Officer of the Betfred Group, said: “Although we have faced increased taxation, regulation and a very competitive market place we are delighted to report a positive set of results.

Our estate of just under 1,400 betting shops continues to perform well and there’s been major improvement in our online and mobile offerings.

“Totepool continues to grow and in this period we had a record breaking Scoop6.

“We have a clear message across the Betfred Group to all our customers to keep gambling fun and gamble responsibly.”