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Betfred and British Horse Racing Cooperation Set to End

23 Sep 2017

Betfred horse racingThe well known bookmaker is set to put the nail on the coffin on their long cooperation with British Horse Racing. This shocking move is expected to be followed by increased turmoil along UK horse racing tracks.

Betfred currently sponsors 600 races and have publicly admitted that they will shut down 49 of the 51 betting shops they currently operate on UK race tracks.

What to Expect Next?

According to experts, this would happen sooner or later after the company garnered the exclusive rights to offer Tote betting (a form of UK pool betting) back in 2015.

Track owners are far from happy from this arrangement and are already laying plans for their own alternative betting scheme, despite the fact that Betfred had paid £233 million to maintain exclusive privileges.

Betfred chief executive, Fred Done said that he is done with horse racing: “As from next year, we will fulfil everything we promise. We will not go back on anything or dodge anything or get out of contracts. If anything, the regret I have about not being on racecourses is that our association with racing is broken now and will be finished next year. But that’s not business, it’s sentimental.”

Although Betfred is planning to close nearly all the track-based shops, those are operating at Ascot and Chelmsford will remain open for the time being.

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Betfred is a well-known name among bettors in Britain. It is the epitome of uncomplicated betting, and one of the last UK betting giants still privately owned. The sportsbook was the first to offer a Lucky 15 bet and the first to pay out bettors before a result was guaranteed in 1998. The horse and greyhound racing sections are some of the most complete among online bookies. If you asked me who the best High Street bookmaker is, I would easily tell you, Betfred. However, the transition from shops to online betting has not been so smooth. You can see that most of their business still comes from the High Street, as the platform lacks finesse. The number of markets and payment methods available does not even come close to what the competitors are offering. In addition, for a sportsbook that has been online since 2004 and had a revenue of £10 billion in 2019, the expansion internationally has inexplicably been overlooked. Nonetheless, it is still one of the top options for all the major UK sports.

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