Betfred has agreed to team up with LottoStar, one of Africa’s largest online betting platforms. The new deal aims to boost its audience and reach within the region. The sports betting operator is hoping to make a significant impact in South Africa specifically.
Betfred rocked the South African markets around June of 2021, when the company finalized the purchase of Betting World. Betfred also opened around 53 retail stores countrywide and has continued adding members to their betting list, including Sepels Sportsbet.
The new agreement will see Betfred take majority shares in LottoStar to continue growing in South Africa. Betfred has climbed the ranks among the best sports betting operators since 2014 but hopes the next few years will be its most successful.
Joanne Whitaker, CEO of Betfred, explained that the new agreement will serve both companies well by increasing their regional activities. She further stated that Betfred’s operations in Europe and the United States would benefit from the move.
Betfred Reborn in South Africa
One of the reasons Betfred chose to partner with LottoStar is the latter’s commitment to improving and rebuilding impoverished communities in South Africa. The company recently conducted a $1 million fundraising drive for children in need. Alongside the online betting platform LottoStar provides, they are strongly invested in corporate social responsibility regimes.
Betfred is reportedly one of the largest betting companies in North-western Europe, with over 1600 retail stores in the UK.
One of Betfred’s biggest draws is that they offer a multifaceted portfolio of betting options. This includes online and mobile betting in a variety of jurisdictions around the world. Before targeting South Africa, the company focused on expansion in the US by adding licenses for Arizona and Louisiana.
Betfred Agrees Extension with Inspired Entertainment
Prior to the latest deal with LottoStar, Betfred also concluded an extension agreement with Inspired Entertainment for their virtual sports retail partnership. The partnership has been ongoing for around 15 years. Inspired provides the content to Betfred, such as virtual horseracing, dog racing, and bingo, amongst other games.
The player base for the Inspired virtual sports platform has been growing. It has just over 32 000 retail channels on over 100 websites in 30 countries. The CCO of the company, Steve Rogers, has stated that Inspired and Betfred continue to have a robust and successful partnership.
Betfred was one of the first retail operators to provide multiple content channels in the UK’s betting sector. This was one of the company’s most attractive features, leading to the agreement. This strategy has also been attracting players non-stop.
Inspired released its first annual results in May. So far, in 2022, the company has seen its revenue increase by 166%. The report highlights the success of the company’s recent business venture. It also shows how strongly it bounced back following the pandemic in early 2020.