Posted on: June 27, 2022, 05:53h.
Last updated on: June 27, 2022, 10:38h.
Betfred has announced a new partnership in South Africa that will see it continue to grow in the region. The sports betting operator has teamed up with one of Africa’s largest online betting operators, LottoStar.
In June of last year, Betfred finalized the purchase of Betting World as it entered the South African market. In addition to online services, the company currently operates 53 retail stores in the country. Later, the operator added Sepels Sportsbet to its portfolio.
Now, Betfred will continue to expand its presence in the region. The new operation sees the bookmaker take a majority stake in LottoStar shares. The gaming operator has been active in the market since 2014.
Betfred CEO Joanne Whittaker explained in a press release that this new agreement will strengthen both companies’ activities in South Africa. She added that Betfred’s operations in Europe and the US will also benefit from this recent agreement. However, Whittaker didn’t explain how it would help the latter.
Betfred Finds New Life in South Africa
LottoStar, which recently completed a $1-million fund drive for needy children, offers fixed odds betting and live games on its online platform. It also runs a series of marketing campaigns and strives to “raise and rebuild communities” through its corporate social responsibility initiatives across the region.
Currently, Betfred has over 1,600 betting shops in the UK. It is reportedly the largest independent bookmaker and one of the largest companies in northwestern Europe.
In addition to retail betting, Betfred currently offers a comprehensive portfolio of services that include online and mobile betting in multiple jurisdictions around the world. More recently, it has been expanding its US footprint, adding new licenses in Arizona and Louisiana.
Betfred Gets More Inspired
Last week, Betfred and Inspired Entertainment reached an agreement for the long-term extension of their virtual sports retail partnership. Inspired has been providing digital content for Betfred for over 15 years in virtual horse racing, dog racing and bingo games, which are marketed to players at Betfred’s outlets.
Inspired’s virtual sports feature a global player base that now spans more than 32,000 retail channels and more than 100 websites in 35 countries. The company’s Chief Commercial Officer Digital Games, Steve Rogers, said at the time that Inspired and Betfred maintain a “corroborated and successful partnership.”
Inspired points out that Betfred was one of the first retail operators to add multiple simultaneous content channels in the UK’s licensed betting sector. As a result, it has seen how successful this strategy has been in attracting players.
Inspired released its first-quarter annual results in May, reporting a year-over-year revenue increase of 166%. The report highlighted the company’s return to pre-March 2020 operational strength. This was after Inspired’s gaming and leisure business suffered considerable losses due to COVID-19 health restrictions.