Fred Done

Fred Done
NationalityBritish
Occupation(s)Founder & Chairman, Betfred
Years active1967–current
OrganizationBetfred
RelativesPeter Done

Fred Done (born March 1943) is a British billionaire businessman and the owner of the bookmaking chain Betfred, which has more than 1,600 betting shops in the UK.[1][2]

Early life

Done grew up with three siblings in Ordsall, Greater Manchester.[3] Done and his brother Peter Done left school aged 15 without qualifications after working in their father’s illegal bookmaking business.[3]

Career

In 1967 aged 24, Done opened his first bookmaker with his brother, which they funded by a win on England's victory in 1966 FIFA World Cup the year before.[3][4]

By the mid-1980s, they had more than 70 bookmaking shops.[5] In 1983, Done founded Peninsula Business Services, which has more than 10 companies operating in employment law, workplace health, and human resources.[3][6]

In 1998, Done paid out early Manchester United to win the Premier League title, making him the first bookmaker to pay out early at the end of the season.[7]

In 2004, Done's chain of bookmakers was renamed Betfred.[7]

In 2015, Done announced he was in talks to sell a 25% stake in The Tote after buying it from the UK government for £265 million in 2011.[8]

In 2018, Done made an investment in Adzooma, an online advertising platform based in Nottingham, UK.[9]

In 2020, Done invested in GGRecon, an esports publisher based in Manchester, UK.[10][11]

In 2021, Done stepped down as the CEO of Betfred and took up the role as Chairman.[12]

In 2023, the Sunday Times Rich List estimated Done's net worth to be £1.87 billion.[13]

References

  1. ^ "Billionaire Brothers Bet on William Hill Before Stock Surge". Bloomberg Online. 2 October 2020. Retrieved 2 February 2021.
  2. ^ "Welcome to the Betfred Group". BetFred About Us. Retrieved 2 February 2021.
  3. ^ a b c d "Who are Fred and Peter Done, the brothers behind Betfred bookmakers?". the Guardian. 2020-01-16. Retrieved 2021-11-24.
  4. ^ Duke, Simon. "Betfred founders Fred and Peter Done eye sale of 25% stake in the Tote". The Times. ISSN 0140-0460. Retrieved 2021-11-24.
  5. ^ "CEO Secrets: From Ordsall poverty to being a billionaire". BBC News. 2021-11-24. Retrieved 2021-11-24.
  6. ^ "Who are Peninsula?". Peninsula UK. Retrieved 2021-11-24.
  7. ^ a b "Betfred Corporate – History". www.betfredcorporate.com. Retrieved 2021-11-24.
  8. ^ Duke, Simon (25 February 2018). "Betfred founder Fred eyes sale of 25% stake in the Tote". The Sunday Times. ISSN 0956-1382. Retrieved 20 July 2018.
  9. ^ "Adzooma partners with Google to help SMEs grow online". BusinessCloud.co.uk. 21 August 2018. Retrieved 2018-08-22.
  10. ^ "About GGRecon". GGRecon. Retrieved 2 February 2021.
  11. ^ "These Mancs play games for a living: GGRecon is Manchester's best Esports publisher". The Manc. 30 June 2020. Retrieved 2 February 2021.
  12. ^ "Fred Done Appoints Joanne Whittaker as Betfred CEO". GamblingNews. 2021-03-11. Retrieved 2021-11-24.
  13. ^ Tyler, Richard (2023-07-24). "Peter Done: I lost Betfred to my brother on a coin toss, but I'm still a winner". The Times. ISSN 0140-0460. Retrieved 2023-07-24.