Betfred reports £13.3b in betting turnover, £1.9b from digital operations

UK betting operator Betfred notched £1.9b in online betting turnover in the 18 months ending September 28, 2014.

The Warrington-based bookie has changed the date of its fiscal year since its last public reporting, making apples-to-apples comparisons dicey. In the previous 12-month period ending March 2013, Betfred’s digital turnover was £1.1b, so the £1.9b figure represents a 15% pro-rata gain.

Counting Betfred’s nearly 1,400 retail betting shops, the company says total turnover came to £13.3b, compared with £8b in the previous 12-month period.

The privately-held Betfred, which is controlled by brothers Fred and Peter Done, doesn’t feel the need to overshare its operational metrics with the world. They will say that revenue came to £593m, up from £362m in the previous period, while earnings rose to £101.9m from £69.2m. Profits would have been £3m higher were it not for Betfred’s ill-fated Australian mobile betting venture, which the company both launched and closed in 2014.