Betfred profits close to £20m for the year to September 2022 as the bookmakers recovery from the pandemic continues.
The latest published accounts (published 7 July 2023) by the Betfred group show that the privately owned UK bookmaker continued to recover from the impact of the Covid-19 pandemic.
Key Numbers
| £’000 | 2022 | 2021 | 2020 | 2019 | 2018 |
| Amounts wagered | 8,806,826 | 6,999,058 | 6,482,831 | 10,103,644 | 13,490,645 |
| Turnover | 723,204 | 525,958 | 524,943 | 621,376 | 727,631 |
| Gross Profit | 542,918 | 391,038 | 410,228 | 475,005 | 552,167 |
| Operating Profit | 36,815 | 26,643 | 104,548 | 74,769 | (41,434) |
| Dividends Paid | 50,752 | 0 | 0 | 10,150 | 10,150 |
| Total Tax | 18,237 | 806 | 39,523 | 14,521 | (3,086) |
| Number of betting shops | 1,419 | 1,470 | 1,529 | 1,578 | 1,650 |
| Amounts wagered per betting shop (average) | 6,206 | 4,761 | 4,240 | 6,403 | 8,176 |
| Average number of employees | 7,761 | 7,497 | 6,993 | 7,154 | 7,516 |
Betfred Turnover / Revenue
In the year to 25 September 2022, Betfred generated revenue of £723.2m, up £197.2m and 37.5% on the prior year.
Betfred Profit
Betfred saw an increase in both gross profit (profit before administration and overheads) of 38.8% to £542.9 million from £391.0 million in 2021 and operating profit of £36.8 million up 38.2% from £26.6m in 2021.
Betfred – Value of wagers taken
In addition to increases in revenue and profit Betfred also saw an increase in wagers up £1.8 billion / 25.8% on the period year to £8.81 billion from £7 billion in 2021.
Betfred – Number of betting shops
The total number of Betfred betting shops at the year end was 1,419, a drop of 51 from 1,470 in September 2021.
Other items worth mentioning
During the latest year end the Betfred group continued to expand into further US states and also acquired Sepels Best Bets Proprietary Limited and Sepels Sportsbet Gauteng Proprietary, two South African betting businesses. Since the accounting last year end they also acquired a 51% stake in Lottostar (Pty) Limited, a South African online gaming company. Showing their clear interest in expanding internationally outside of the UK.
A copy of the Betfred Group Accounts are available free of charge from Companies House.