0
$ £

BetFred Suffers Loss in 2015

UK betting firm BetFred has announced that they lost money last year due to the UK's new point of consumption tax, the closure of its Australian site, and lucky bets placed by punters.

The company posted a £76.7 million loss for the fiscal year ending September 27th, 2015, which is a huge drop from the £31.5 million profit posted the year prior. The loss was due to what the company claims were exceptional terms, which will not be repeated for the next fiscal year. Even though the company posted a loss, the company's weekly turnover was up £30.7 million to £200.7 million.

Recent developments seem to be more positive for BetFred, as the company announced that it had signed a deal with Sky Sports to put the channels in all of its 1,360 retail shops, and there has been a number of recent sponsorships that the company has signed to boost its brand.

Related casinos

usCasinoJurisdictionBonusPlay
NoBetFred Casino90Gibraltar, U.K.
2 replies • Last post

Comments

bgsharpe
Forum Angel
sharpe's picture
Location: Sofia, Bulgaria
Joined: 4 Nov 2014
Posts: 3506
Thanks given: 1126
Thanks received: 362
11 July 2016 - 11:46pm
#1

So not always the house winning right? Wink
In a business where most of the companies records huge profits it's a strange that BetFred could finish a year with such huge loss, I think it's because of bad management or maybe they offer the highest odds Joking

nzMattl
GamblerGambler
Mattl's picture
Location: New Zealand
Joined: 1 Oct 2012
Posts: 89
Thanks given: 15
Thanks received: 71
12 July 2016 - 8:41am
#2
Quote:

The loss was due to what the company claims were exceptional terms, which will not be repeated for the next fiscal year.

How come i never heard of these exceptional terms?? 76M loss....some big wiiners

Share this