Seems like nowadays, it is a great time to be a United Kingdom-based bookie.
According to gambling industry news, Betfred, a betting operator with headquarters in the UK, closed a pretty successful period. In the last 12 or so months, they made a total of GBP 13.3 billion. Online betting accounts for GBP 1.9 billion.
Compared to previous fiscal periods in the company’s life, these figures show a definite increase both in overall, and online income. How Betfred functions, however, remains a kind of secret, because the brothers controlling the company are not the types who would give you TMI (or Too Much Info.)
Profits could have been even higher
Apparently Betfred also made an attempt to get into the Australian mobile gambling market with a new idea. They launched in 2014 and had to shut down that very same year. The owners of the company, Fred and Peter Done said that without the failed venture, they would have had a GBP 3 million more in their bank account.
On the bright side, there have been great advancement with Betfred’s Tote business. The CEO of the company, John Haddock said that this improvement was thanks to “more focused advertising, a reduced number of race abandonments and significant volume increases.” All in all, Haddock was extremely pleased with the results.