A leading UK sports betting company, Betfred, experienced a difficult period in 2015. For the twelve months concluding September 27, 2015, they declared a deficit of £76.7 million, a significant difference from the £31.5 million gain they achieved the preceding year.
This decline was mainly attributed to a substantial £83.7 million impact from extraordinary expenses, primarily arising from the UK government’s implementation of a 15% levy on internet wagering income commencing December 2014. The termination of their Australian ventures in December 2014 also contributed to the reduced earnings.
Notwithstanding these obstacles, Betfred found a positive aspect in their overall revenue. They generated a considerable £10.4 billion in the 52 weeks leading to September 27, 2015. This equates to an impressive £200.7 million weekly, a notable rise from the £17 million weekly revenue they observed the prior year.
The firm maintained a hopeful outlook, ascribing this expansion to a surge in both the quantity of patrons and the sum of money staked throughout their retail locations, digital platforms (betfred.com and totesport.com), and their equestrian racing endeavors via Totepool. They underscored their dedication to these sectors and their continued investment in their development.
Although annual income saw a considerable rise, the conglomerate’s fiscal standing suffered due to a confluence of circumstances. Elevated gaming levies in Britain and a series of unfavorable outcomes compressed earnings.
This was especially apparent in their digital ventures, specifically betfred.com and totesport.com, which experienced a steep drop in returns.
Conversely, Betfred inked a long-term agreement with Sky, enabling their 1360 British wagering outlets to air all seven of Sky’s athletic channels.”
