Betfred acquires Betting World
On 1 June the Betfred Group has completed a R120 million takeover deal for Betting World, a subsidiary of Phumelela Gaming and Leisure.
UK bookmaker Betfred just acquired Phumelela subsidiary Betting World for R120 million. This takeover will allow Betfred to enter the South African betting market. It could also mean for us punters another great choice for sports betting and games.
Background
The past year has been very difficult for many business around the world due to the COVID-19 pandemic. One of the companies that was hit hard within the sports betting industry in South Africa is Phumelela Gaming and Leisure. In summer 2020 Phumelela suspended its trading on the JSE. It went into administration and therefore its assets were placed under bankruptcy protection.
While Betfred initially intended to acquire the entire Phumelela business their bid for taking over the racecourse was not successful. Instead the administrators decided to accept a deal by the private investment fund Mary Oppenheimer Daughters (MOD). But Betfred did not give up. With yesterdays news that Betfred acquires Betting World the UK bookmaker can now enter the SA betting market after all.
About Betting World
Betting World is a fully licensed SA bookmaker. The company holds a license by the Gauteng Gambling Board since 2005. Aside from betting branches in Eastern Cape, Gauteng, Limpopo, KwaZulu-Natal, North West, Mpumalanga, Northern Cape and Western Cape punters can also enjoy betting online at bettingworld.co.za. It is one of the leading bookmakers in South Africa but recently suffered from the struggles of its holding company.
In addition, the online offering can not compete with the likes of Hollywood Bets or World Sports Betting. While the sports betting offering is ok Betting World is nowhere near its competitors for games. Without Betgames, Live Games or Lucky Numbers on offer there are far better sites around these days.
About Betfred
Betfred is a well-know UK bookmaker with a long and successful history. Since it was first established in 1967 it has grown into one of the biggest household names in the UK gambling industry. The group has over 1600 shops and a varied online offering. In addition, it is one of the biggest sponsors of horse racing in the UK while also sponsoring teams in rugby, snooker and football.
Outlook
While its the end of the race for Phumelela Gaming the entry of Betfred SA can be a good one for the South African betting market. The Manchester based bookie prides itself for its world class betting and games offering. Over the next weeks and month we will see how Betfred will reshape the current Betting World offer. If they manage to come up with a similar or even better offering than Betway punters will surely have a great experience. In addition, another big name will mean an even wider choice for South African players. We are excited to see what Betfred SA will come up with.
In the meantime have a look at the currently available best betting sites to make your choice for sports betting and more.
Update: Betfred is further expanding its presence in South Africa. In June 2022 Betfred has partnered with LottoStar™ by buying a majority share and the formerly family run business.
