- Casino
- By State
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Georgia
- Florida
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Massachusetts
- Maryland
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
- By State
- Slots
- Poker
- Sports
- Esports
Betfred Reports Substantial Increase in Profits as Sales Soar
While gambling establishments were among the last businesses to reopen during the pandemic, their sales have since experienced a remarkable surge

The renowned bookmaker, Betfred, has announced a substantial increase in profits as losses from gamblers in the UK continue to mount following the lifting of COVID-19 restrictions. According to recently disclosed accounts at Companies House, the company reported after-tax profits of nearly £20 million ($25.6 million) for the fiscal year ending on September 25, 2022, marking a significant jump from just over £5 million ($6.4 million) the previous year.
Betfred’s Turnover Soars to £723 Million as Wagers Reach £8.8 Billion in 2022
Betfred’s turnover skyrocketed by nearly £200 million ($256.3 million) in the year leading up to September 25, 2022, reaching a staggering £723 million ($926.4 million).
Betfred’s customers alone wagered an impressive £8.8 billion ($11.3 billion) in 2022, a sharp increase from the previous year’s figure of approximately £7 billion ($9 billion). However, it fell short of the £10.1 billion ($12.9 billion) wagered in 2019, before the onset of the global health crisis.
In November 2021, Betfred‘s billionaire owners, the Done family, rewarded themselves with a dividend of £50.8 million ($65 million). The company successfully navigated the challenging circumstances through an upsurge in online gambling, allowing it to remain profitable. However, no further dividend payments were reported throughout 2022.
Betfred closed down 51 shops during the period covered by the annual accounts, resulting in a network of 1,419 locations. In 2019, the company boasted 1,578 shops. To address losses, Betfred plans to conduct ongoing evaluations of underperforming stores and consider closures where necessary.
The company incurred a significantly higher machine-gaming duty of £54 million ($69.2 million) compared to the previous year’s £31 million ($39.7 million). This increase was largely influenced by the restrictive measures imposed due to the pandemic.
Stricter Scrutiny Looms Over Online Gambling in the UK with New Measures
While many gambling firms weathered the challenges posed by COVID-19 through increased reliance on online operations, online gambling in the UK is now subject to stricter scrutiny. Earlier this year, the government announced its intention to consult on implementing new affordability checks and other measures aimed at reducing the harms associated with gambling, including addiction. These industry-opposed changes are anticipated to be enforced by the summer of next year.
In September, Betfred faced a fine of nearly £2.9 million ($3.7 million) from the UK Gambling Commission due to failures in safety checks and money-laundering controls.
The company has expressed its commitment to reviewing its policies and ensuring responsible gambling practices moving forward. In other news, Betfred has recently donated £84,000 ($107,609) to Prostate Cancer UK following the Betfred British Masters golf tournament, with a total of 42 eagles made during the competition and a hole-in-one securing additional funds. Betfred has raised almost £200,000 ($256,211) for the charity over the last three editions of the tournament, emphasizing the importance of raising awareness alongside financial contributions.
Silvia has dabbled in all sorts of writing – from content writing for social media to movie scripts. She has a Bachelor's in Screenwriting and experience in marketing and producing documentary films. With her background as a customer support agent within the gambling industry, she brings valuable insight to the Gambling News writers’ team.
More Articles
Sports
February 11, 2025
Allwyn Joins Formula 1 as Official Partner, Vows to Empower Fans
Sports
February 11, 2025
FanDuel Recorded 16.6 Million Super Bowl Bets
Sports
February 11, 2025
Mavericks Governor Dumont Criticizes Dončić’s Work Ethic
Sports
February 11, 2025
Eagles’ Super Bowl Blowout Gives Sportsbooks a Win
Industry
February 10, 2025
Gambling Firms Accused of Illegally Sharing User Data with Facebook
Sports
February 10, 2025
William Hill Sponsors Spring Festivals Trials Day at Naas Racecourse
Industry
February 7, 2025
UK Gambling Commission Report Reveals High-Risk Gambling Types
Industry
February 7, 2025
UK: Conman Turned Tipster Argues with Bookmakers over Ban
Sports
February 7, 2025
Donald Trump Could Be Professional Golf’s New Messiah
Sports
February 7, 2025
CFTC Hints at Potential Change in Prediction Market Rules