Bet Fred to sponsor World Snooker Championship

The Gibraltar based online and store fronted company Betfred have confirmed that they will be the main sponsors for the World Snooker Championship for the next four years. The tournament will be now be known as Betfred.com World Snooker Championship.

The new deal has arrived just in time for this year’s televised event which starts on Saturday April 18th through to Monday May 4th at the world famous Crucible Theatre in Sheffield. The tournament last year was featured on the BBC receiving over 127 hours of coverage and was viewed by over 24 million people. The event also received coverage on Eurosport and CVTV5 in China where it attracted an audience of 10 million viewers.

Fred Done, chairman of Betfred said: “It’s always been an ambition of mine to sponsor a World Championship and this is a competition with so much history. When it comes to snooker this is the pinnacle of the sport and I look forward to watching the world’s greatest 32 players.”

The World Snooker Association has been looking for a new main sponsor since August of 2008 when the previous sponsors 888.com pulled out of 5 year deal 2 years early citing difficult economic climate as its reason for withdrawing.

Betfred to increase number of UK betting shops

The UK based sports bookmaker Betfred owned by the Done brothers has published its plans for the expansion for their chain of betting shops that would result in the company opening its 800th store during the spring of 2009 creating 350 jobs in the process and this could grow to 1,000 stores in the following three years.

The company currently operates 775 betting shops from its headquarters in Warrington, it has currently been expanding at the rate of 80 shops per year, the Betfred currently employs 4000 staff with 350 based at the Warrington headquarters.

Finance director of Betfred; Barry Nightingale expected turnover to increase by 5% over the next 12 months taking operating turnover to £1.6 billion.

Betfred sell off online casino operations

The UK based sports betting company Betfred has disposed of its online casino operations following several years of underperforming due to its belated entry into the online gaming market.  The sale took place in 2008 but has only just been revealed by the recently filed companies accounts of Betfreds holding company Lightcatch Ltd.

The company’s casino gaming division will still however remain on the Betfred.com website as the group has kept its online sports betting division.  The sale of Betfred NV has thought to have netted the owners of Betfred known as the Done Brothers in excess of £27 million. Although the division was profitable for Betfred it only made an operating profit of £3.3 million based on a turnover of £9.2 million in 2007.

Betfred’s finance director, Barry Nightingale said: “We have sold the online business, but we’re bound by the terms of the deal not to reveal any more details. It made commercial sense, but with our new partners the Betfred brand will continue to go from strength to strength in the online arena.”

Paddypower Payout Early on United Winning Title

Irish Bookmaker Paddypower has paid out early on Manchester United winning the 2008 Premier League title. They took the decision to pay out early to all those customers who had back United to win the Premier League throughout the season on Friday morning, depsite Chelsea moving just two points behind them in the league with a 1-0 win over Everton on Thursday night.

A spokesman for the firm said “Let’s be honest, they are home and hosed at this stage and it would take a minor miracle for Chelsea to catch them. Having said that, we did end up paying out on both the betting odds for Arsenal and United to win the title a few years ago, so you never know. Whatever happens, we reckon that the money might as well be in the punter’s pocket at this stage.”

It is a great gesture from the company to reward punters who had backed Fergie’s men at odds of 13/8 at the start of the season and they could face an even bigger payout if the Reds go on to lift the Champions League. However, Paddypower could end up with egg on their faces as bookmaker Fred Done, Chairman of Betfred, found out when paying out early on United to win the titlte in 1998, when eight point clear. That season, Arsenal came pipped them at the post and so anybody who has backed Chelsea shouldn’t throw away that betting slip just yet.

Ladbrokes Live Horse Racing

Ladbrokes Live Horse Racing agreement has been signed with Turf TV this week in a deal worth £70 Million over 5 years. This equates to a deal worth £6,500 per shop and this was a deal which just had to happen.

Ladbrokes just could not do without Live TV pictures from 31 racecourses including such top venues as Ascot, Cheltenham, Newmarket, Aintree, Epsom and Sandown.

William Hill and Betfred will now have no option to also sign an agreement sooner rather than later as they will be at a competitive disadvantage on the high street and will face losing customers to their opposition.