Paddy Power Plans To Close 57 Betting Shops

The high street betting business is facing another significant shake-up as Paddy Power, has announced plans to close 57 of its betting shops. The decision, which affects nearly 250 jobs, has raised concerns about the future of retail betting in the UK and Ireland.

On October 14, Paddy Power’s parent company, Flutter Entertainment, confirmed the closure of 57 shops, which constitutes approximately 10% of its total estate of 608 betting outlets across the UK and Ireland.

Job Losses and Economic Impact

The impending closures will put around 250 jobs at risk, a significant concern for the affected employees and their families. The announcement comes at a time when the high street is already grappling with numerous challenges, including changing consumer habits and increased competition from online betting platforms.

Flutter Entertainment has stated that while the closures are not directly linked to the upcoming Autumn Budget, the potential for increased gambling taxes could further strain the industry. The company has expressed concerns that higher taxes may lead to job losses and reduced investment in the sector, ultimately pushing customers towards unregulated operators.

Betting Shop Closures

The announcement from Paddy Power is not an isolated incident. The betting industry has seen a dramatic decline in the number of retail outlets over the past decade. According to recent statistics, the total number of betting shops in the UK and Ireland has decreased by a third since 2017, falling from nearly 10,000 to just over 6,600.

Several factors contribute to this decline:

- Increased Online Competition: The rise of online betting platforms has significantly altered consumer behaviour, with many punters opting for the convenience of betting from home.
- Regulatory Changes: Stricter regulations and potential tax hikes have created an uncertain environment for betting operators, leading to a reassessment of their retail strategies.
- Changing Consumer Preferences: Younger generations are increasingly favouring digital experiences over traditional retail, prompting many companies to adapt their business models accordingly.

Flutter Entertainment’s Strategy Moving Forward

Despite the closures, Flutter Entertainment remains committed to its high street presence. A spokesperson for the company stated that they are continually reviewing their retail estate to ensure it meets the evolving needs of customers. The company aims to innovate and invest in areas that align with changing consumer trends.

Flutter has indicated that it will explore new ways to engage customers, potentially through enhanced in-store experiences or technology integration. This approach aims to attract foot traffic and retain customers who may otherwise turn to online alternatives.

The upcoming Autumn Budget, set to be announced by Chancellor Rachel Reeves, is expected to address the taxation of gambling operators, the fear is that a large tax hike would affect gambling operators to close more betting shops as a consequence.

There is growing pressure from various political factions to increase taxes on betting companies, with some Labour MPs advocating for rates as high as 50%. While the government argues that gambling companies should contribute their “fair share” to the economy, industry leaders warn that excessive taxation could have detrimental effects on jobs and investment especially on betting shops.

Paddy Power & Betfair Report Data Breach On Customer Details

Paddy Power and Betfair, have reported a significant data breach. The incident, disclosed by their parent company Flutter, while the breach did not involve sensitive data such as passwords or payment details says the company.

Flutter announced that a data incident had occurred, affecting a subset of customers from both Paddy Power and Betfair. The breach reportedly involved unauthorized access to personal information, including usernames, email addresses, and contact details. Although the company reassured customers that no financial data or identification documents were compromised, the breach still poses a risk of phishing attacks and identity theft.

Upon discovering the breach, Flutter said it took swift action. The company promptly informed relevant regulatory bodies, including the Gambling Commission and the Information Commissioner’s Office. They initiated a thorough investigation, enlisting external IT security experts to assess the situation and enhance their security measures. Flutter has stated that the unauthorized access has been contained, and they are actively notifying affected customers.

The breach has impacted a limited number of customers, but the exact number has not been disclosed. Those affected have been informed via email, detailing the nature of the breach and the specific information that may have been compromised.

While the breach did not expose sensitive financial information, the leaked data could still be exploited. Cybercriminals may use the compromised information to launch phishing attacks, tricking customers into revealing more sensitive data.

In light of this incident, Flutter has emphasized its commitment to safeguarding customer information. The company is reviewing its security protocols and implementing additional measures to prevent future breaches. This includes enhancing their network security and conducting regular audits to identify potential vulnerabilities.

Flutter has pledged to maintain open lines of communication with affected customers. They are providing updates on the investigation and any further steps being taken to enhance security.

The breach at Paddy Power and Betfair is part of a broader trend in the gambling industry, where cyberattacks have become increasingly common. Just a month prior, the British Horseracing Authority (BHA) experienced a cyberattack that disrupted its internal systems.

The recent breaches serve as a wake-up call for companies in the gambling sector and beyond. Organizations must prioritize cybersecurity and invest in advanced technologies to protect customer data. The 2025 London Gaming Congress (LGC) highlighted the risks and dangers of cyber attacks and how companies need to be more pro-active as opposed to reactive.

Paddy Power Betfair charged £490,000 for self-exclusion marketing

The licence holder of Paddy Power Betfair has been charged £490,000 by the UK Gambling Commission (UKGC) in the regulator’s second enforcement action of this week.

PPB Counterparty Services Limited, which trades as the Paddy Power and Betfair sports betting brands, was the subject of UKGC enforcement for sending promotional push notifications to devices linked with self-excluded customers.

Customers either directly self-excluded with PPB or via the GAMSTOP sector-wide exclusion scheme were sent offers for enhanced odds on a Premier League match on 21 November 2021.

Kay Roberts, UKGC Executive Director of Operations, said: “Although there is no evidence the marketing was intentional, nor that all the people with apps saw the notification or that self-excluded customers were allowed to gamble, we take such breaches seriously.

“We would advise all operators to learn from the operator’s failures and ensure their systems are robust enough to always prevent self-excluded customers from being sent promotional material.”

In its assessment, the Commission maintained that PPB’s actions reached regulatory rules requiring operators to take ‘all reasonable steps’ to prevent marketing material being sent to self-excluded customers.

Additionally, firms are required to take steps to remove the names and details of self-excluded customers from marketing databases within two days of receiving a completed self-exclusion notification.

The UKGC’s initial decision against Malta-based PPB was initially made on 9 May, but the company launched an appeal against the penalty. However, the operator and regulator later agreed to dispose of the appeal.

As well as accepting the £490,000 charge, PPB has also agreed to a third party audit of its marketing communication processes and procedures, at the FLutter Entertainment-held company’s own expense.

However, the UKGC has acknowledged that no complaints were received from customers regarding the aforementioned promotions. 

Additionally, the UKGC has noted that it was ‘proactively notified’ of the incident after it occured by the operator, which subsequently took ‘immediate remedial action’ and was compliant throughout the investigation.

In the aftermath of the White Paper publication, UKGC executives have made it clear that the regulator will continue to ensure that non-compliant operators face repercussions for licence breaches.

Almost £225,000 in wages and freebies taken from gambling industry by 28 MPs

On 7 July, the Conservative MP for Blackpool South, Scott Benton, took his seat at Wembley to watch England take on Denmark in the semi-final of Euro 2020, courtesy of the Ladbrokes Coral owner, Entain – a freebie worth £3,457.

Less than four hours earlier, Benton had warned parliament that a review of betting laws, widely expected to result in tougher regulation, must not be driven by anti-gambling “ideology”.

He called for casinos to be allowed more slot machines, adding that many people would be “concerned” about the Gambling Commission’s plans for affordability checks on people betting online and in person, a measure intended to prevent ruinous losses.

Days earlier he had enjoyed another day out, at Ascot, courtesy of the Betting & Gaming Council (BGC) trade body. In total, he accepted hospitality worth £7,495 during a gambling-funded summer of sport.

All in all 28s MPs – 19 Conservative and the rest Labour – have taken almost £225,000 in wages and freebies from the gambling industry since August 2020.

During the same debate at which Benton spoke – one of his two speeches favourable to the gambling industry that month – Labour’s John Spellar interceded. He referred to the urgent need to “improve and continue Britain’s attractiveness” as a casino destination.

He had recently been a guest of the Paddy Power owner, Flutter, at England’s match against Germany, and was due to attend the cricket at Lord’s the following month, at a cost of £874.80 to the BGC, whose members include major casino companies.

For the gambling industry, it was a busy month for both hospitality and political fulmination about the future of regulation.

On 13 July, the Conservative MP Mark Jenkinson expressed “grave concerns” about the prospect of the government imposing betting limits, in an article, sponsored by the BGC, for the Conservative Home website. The article appeared six days after he watched England play Denmark, courtesy of Entain, and less than a month after the BGC took him to Ascot, visits worth a combined £4,857.

There is no suggestion that any of the trio broke parliamentary rules. But their actions have raised concerns about the gambling industry’s apparent attempts to curry favour with politicians and the system that allows it.

The gambling sector’s charm offensive comes in the run-up to the publication of a white paper on gambling reform, expected early next year, that could significantly curb the profitability of bookmakers and online casinos.

One peer described the industry’s charm offensive as a “pretty obvious” attempt to influence the outcome of the reforms.

By far the biggest beneficiary of the gambling industry’s largesse over the past year was Philip Davies, the Conservative MP for Shipley. The Guardian revealed last year that he had accepted almost £50,000 to advise the Ladbrokes owner, Entain, on safer gambling and customer service.

Davies has previously said that his work outside parliament is “a matter for me”, although in 2010 he did not extend the same forbearance towards firefighters with second jobs, who were resisting changes to their shift pattern. The firefighters, he said, “ought to start to live in the real world at a time when many people are grateful to hang on to their one job”.

On top of his work for Entain, which employed two of his former political aides in senior roles at the time he took the job, Davies accepted hospitality worth a combined £8,695 from the company, fellow betting firms Flutter and Gamesys, and the Betting & Gaming Council.

In addition to what it paid Davies, Entain spent almost £41,000 on hospitality for 13 MPs over the summer.

The BGC spent half that sum, £20,405, escorting lawmakers to events including three England matches at Euro 2020, horse racing at Ascot, cricket at Lord’s and the Ivor Novello awards.

Of the 13 MPs who enjoyed the trade body’s hospitality, three spoke out in support of the industry within days of being entertained, two of them – Benton and Spellar – in the House of Commons.

During that same debate, Laurence Robertson – a longtime advocate for the gambling industry – warned of the “great danger” of tighter regulation, backing the BGC’s view that it would drive people towards the black market.

As he has pointed out, he correctly declared his interest, a £24,000-a-year role with the BGC, advising on sport and safer gambling. He also took £9,307 worth of tickets and hospitality at Ascot, York and Sandown racecourses, Lord’s and England’s match against Denmark. The gifts came from the BGC, SkyBet, Entain and Coral.

In total, 28 MPs are either paid by the gambling industry or have accepted hospitality from the industry, with a total value of £224,281 since August 2020. All of the hospitality and salaries were declared to the register of members’ interests, in line with parliamentary rules.

Beneficiaries include the Conservative MPs Caroline Dinenage, who is a minister within the Department for Digital, Culture, Media and Sport, which is overseeing the gambling review, and Aaron Bell, who used to work for Bet365.

The BGC is led by Michael Dugher, a former Labour MP.

Lord Foster of Bath, the chair of Peers for Gambling Reform, said it was “pretty obvious why the industry is giving largesse to parliamentarians”, calling the flurry of consultancy roles and hospitality freebies an attempt to “try and influence the outcome to the advantage of gambling companies. With millions of people impacted by problem gambling and more than one gambling-related suicide every day, I suspect [they] will find themselves on the wrong side of public opinion.”

Matt Zarb-Cousin, a former aide to Jeremy Corbyn and director Clean Up Gambling, said: “Far too many MPs have had their snouts in the gambling trough. This is a sector that derives most of its profits from the harm it causes their constituents. The government has an opportunity in its gambling review to demonstrate our democracy is not for sale.”

An Entain spokesperson said: “Any political engagement we conduct is always in line with the registers of members’ interest. As a sports betting and interactive entertainment company, we are proud of the role we play in supporting grassroots and elite sports both in the UK and internationally.”

A BGC spokesperson said: “Any hospitality is consistent with the parliamentary rules and is fully declared and transparent.”

Aaron Bell said: “I have declared all hospitality promptly and transparently in the register of member’s interests, and have always abided by the parliamentary code of conduct.”

Fox Corporation To Sue Flutter Entertainment

Rupert Murdoch’s Fox Corporation have filed a lawsuit again Betfair Paddy Power owner Flutter regarding a dispute over the share value of US sport betting firm FanDuel.

In a statement by the media corporation it said that it has an option to acquire 18.5% of the shares in FanDuel and at the same price as Flutter Entertainment in December 2019 when both FanDuel and Flutter merged.

It is claimed that Fox is allowed to acquire the shares at the same value as Flutter did as Fox assisted with the merger of the UK and US companies which was valued at $11.2 billion.

Now with Flutter considering listing part of their business on the US stock Exchange Fox wants the shares at the same price not at the offered special price Flutter gave them in July last year.

Flutter is the largest gambling company in the World and the company sees the US in helping it grown bigger, but the possibility of alienating Fox could be dangerous and create what was an assistant into a competitor.

Flutter Entertainment To Merge With Stars Group

In a major development this morning it was announced that Flutter Entertainment which owns Paddy Power and Betfair are to merge with online poker giant The Stars Group.

It will become once the deal is finalised the worlds largest gambling entity with combined revenues of £3.8 billion based on 2018 figures.

Flutter Entertainment was only created in 2016 with the merger of Paddy Power and Betfair and the new merger will see Flutter hold a 54.6% share in the combined business with The Stars Group holding 45.4%.

It is understood shareholders will approve the deal in the second quarter of 2020 and completion will be done by the end of 2020.

Observers say that with the merger the new company will be a huge player in the US market with both betting and poker being the new businesses major brands.

Peter Jackson the Chief Executive of Flutter said of the deal, “The combination represents a great opportunity to deliver a step-change in our presence in international markets and ensure we are ideally positioned to take advantage of the exciting opportunity in the US through a media relationship with FOX Sports as well as our development of US sports betting through Flutter’s FanDuel and TSG’s FOX Bet brands.2 He went on to say, “We are committed to these two high-quality brands to drive the growth of the combined group in the US.”

Stars Group Chief Executive Rafi Ashkenazi said: “This exciting combination will allow us to enhance and accelerate our existing strategy. The combination with Flutter will further enhance our company’s core strengths, and position us strongly for the future in this rapidly evolving industry.”

It is understood that oce the business is full combined Rafi Ashkenazi will assume the role of Chief Operating Officer.

It has also been confirmed that the newly combined company will be incorporated, headquartered and domiciled in Dublin, Ireland, what will become of The Stars Group Headquarters in Isle Of Man has not yet been announced.

Gambling and football: a relationship under scrutiny

When Championship club Derby County signed Wayne Rooney, record goalscorer for England and Manchester United, this month, pundits asked whether the transfer was to strengthen the team or improve its financial position off the pitch. 

Derby, which plays in English football’s second tier, announced that Rooney would wear the number 32 shirt when he joined the team in January, while also revealing a “record-breaking [shirt] sponsorship deal” with 32Red, a Gibraltar-based online bookmaker. 

The apparent connection between shirt number and sponsor drew widespread condemnation from UK newspapers, politicians and church groups. They say the deal is only the latest example of bookmakers and clubs pushing their commercial relationship too far, without regard to how children and addicts are bombarded with messages that encourage betting during matches. 

GVC Holdings, one of the world’s largest online gambling groups and owner of bookmaker Ladbrokes Coral, has called for a ban on betting groups sponsoring football clubs. “There has been far too much perimeter adverts, TV adverts, bookmakers splashed across football jerseys,” said Kenny Alexander, chief executive. 

Such restrictions would match new laws in Italy, home of another of Europe’s biggest leagues, that came into full force this year. Meanwhile, in May, German regulators warned the country’s football association over its sponsorship deal with GVC’s Bwin brand, arguing such partnerships could breach a ban on advertising online casino and slot games.

Similar rules in the UK would threaten the relationship between betting and English football. The sport has been associated with gambling for decades, such as through “pools” markets where fans bet small stakes on the outcome of matches, and the two industries have enjoyed strong revenue growth in recent years partly because of their close financial ties. 

Interviews with more than a dozen senior betting and football industry executives, many of whom spoke on the condition of anonymity because of the sensitivity of the subject, said a fierce debate was taking place on how best to head off a larger regulatory backlash and show gambling groups and clubs were responding to public concern about their close financial ties. 

Mr Alexander called 32Red’s deal with Derby County “ridiculous, at a time when the industry is being attacked [and] we are trying to get the industry off the front pages”. 

Though Derby’s owner Mel Morris said the Rooney transfer provided “commercial opportunities that are significant and widespread”, the club said it would not provide further detail on “commercially sensitive business operations”.

Football shirts are attractive billboards, allowing gambling companies to reach hundreds of millions of fans around the world. 

According to Global Betting and Gaming Consultants, in the UK alone, gross gambling yield — the sum of bets placed minus winnings — from football rose from £908.5m in the year to April 2016, to £1.4bn in the same period last year.


Sponsorship of English teams also helps to target fans in Asia, where Premier League football shirts pushes company logos to fans without falling foul of local laws, such as in China where online gambling is banned, or Australia, where there is a ban on betting groups advertising on television during sports matches.

Half of the 20 teams in the English Premier League and two-thirds of the 24 clubs in the Championship have gambling company logos on their shirts.

The sponsors are diverse. Everton and Hull City’s main sponsor is Kenya-based SportPesa, the Chinese characters of Malta-registered Asian betting brand LoveBet adorns the shirts of Burnley, while Filipino group Dafabet features on Norwich City shirts.

These 26 teams made £225.2m in commercial revenues in 2018, representing 11 per cent of the clubs’ total revenues, according to an analysis of their financial records. Shirt sponsorships are typically the largest individual commercial deal available to most clubs. this differs

However, none of the so-called big six clubs — Manchester United, Manchester City, Arsenal, Tottenham Hotspur, Chelsea and Liverpool — have a gambling group as shirt sponsor, though Spurs has done previously. These clubs, among the 10 richest clubs in the world, can command lucrative commercial tie-ups with global brands willing to pay big to reach an enormous international fan base. Manchester United’s main shirt sponsor, Chevrolet, pays $80m year to appear on its shirts.

Instead, it is smaller clubs, which do not command such large support but still regularly appear on television screens in the UK and worldwide, targeted by gambling sponsors with smaller marketing budgets. For Championship clubs with gambling shirt sponsors, commercial income accounts for about 14 per cent of revenues.

Executives at these teams say privately that although shirt deals are typically worth less than £10m, even obscure betting groups offer far more than better known companies in other sectors.

“Commercial agreements between leagues, clubs and betting companies make a significant contribution to the ongoing financial sustainability of professional football at all levels,” said the English Football League, the body that runs professional divisions below the Premier League. “The EFL strongly believes that there has to be an approach whereby football can work with gambling companies in a sensible and socially responsible way.” 

Nigel Adams, the UK’s sport minister, has warned clubs to abide by the “spirit of the rules”on accepting betting sponsorships. But there are no formal rules restricting gambling companies from endorsing clubs, while football’s governing bodies have also been caught between commercial imperatives and moral concerns.

In 2017, the Football Association pulled out of a sponsorship deal with Ladbrokes Coral worth £4m a year. This followed criticism from the player Joey Barton, who was banned by the FA for 18 months for placing bets on matches. Mr Barton said it was hypocritical for the body to impose such a ban while having commercial partnerships with gambling companies.

The English Football League has a sponsorship contract with online bookmaker SkyBet worth up to £4m a year, but said it also used the deal to promote responsible gambling messages on shirtsleeves and works with clubs to limit harm to vulnerable fans.

The opposition Labour Party has called for an outright ban on gambling firms sponsoring football clubs. “These companies are making fans feel they don’t have a stake in the game unless they have a bet,” said Tom Watson, Labour’s deputy leader. 

Anti-gambling activists have also been buoyed by their success in forcing the UK government to drastically cut the maximum stake on fixed-odds betting terminals, high speed slot machines in betting shops — a move strongly resisted by high street bookmakers. According to analysts at Barclays, Ladbrokes Coral, William Hill and Paddy Power Betfair, will suffer a combined £785m loss in annual revenues thanks to the new FOBT regulations, which came into effect in April. 

Shaken by this regulatory defeat, gambling executives held discussions on how to get ahead of further curbs and show their companies are responding to public concern. 

At the start of this month, GVC, William Hill, Flutter, SkyBet and Bet365 began a voluntary “whistle-to-whistle” ban on advertising between the start and finish of sports fixtures, among other measures to protect punters. 

Peter Jackson, chief executive of Flutter, said that the collaboration was “unprecedented”. According to one executive at a UK gambling company, the aim was to avoid “counterproductive” regulation. 

But betting groups want publicity that helps them stand out. 

Championship side Huddersfield Town last month unveiled a shirt dominated by a large sash bearing the logo of Paddy Power, the Irish betting brand owned by London-listed Flutter. 

The FTSE 100 company later revealed the kit was an elaborate marketing stunt, with Paddy Power declaring it would instead pay for Huddersfield and three other English clubs to keep their shirts free of any branding whatsoever this season.

“While the hoax part of the campaign initially divided opinion, the subsequent reveal has prompted support from many fans and started a public debate about shirt sponsorship in football more broadly,” said Flutter.

This month, the FA charged the Yorkshire-based club with misconduct saying the club had broken rules about the size of corporate logos on shirts. A hearing on the matter is due to be held. Callum Limb, a Huddersfield spokesman, said “it doesn’t seem right to be talking about something that is currently under FA investigation”. 

Industry watchdog the Gambling Commission also this month launched an investigation into Russian betting firm 1xBet, and the company’s UK website was taken down. It followed allegations revealed in a Sunday Times investigation that the group had promoted a “pornhub casino”, which uses topless croupiers, and had advertised on illegal websites.

In response, 1xBet told the newspaper it would investigate immediately if any third-party networks or partners were found to advertise its brand on banned sites or sites that break the law.

Neil Banbury, general manager at 32Red, which sparked controversy with its deal with Derby, defends the tie-ups between clubs and betting groups, however.

“Gambling companies and the wider industry has an important role to play in tackling problem gambling,” he said. “To remove the industry from the public’s eye would be irresponsible.”

British bookies go from favourites to American outsiders

What starts in the US, the cliche goes, inevitably ends up in the UK (burger restaurants, assaulting fellow shoppers on Black Friday and syphilis are favourite examples). But the Americans are not always so keen to embrace our exports.

There are, of course, examples of Brits and our brands smashing it in the US: the broadcaster Alistair Cooke, the Beatles and (so the company’s advertising slogan told us) the industrial conglomerate Hanson, which liked to brag how it was “a company from over here that’s doing rather well over there”. But those occasional triumphs are offset with a long list of wonderful-sounding sales pitches that never quite seemed to deliver much – apart from swingeing losses.

Which brings us to the UK gambling industry, a trade that has been talking about cracking America for a period seemingly longer than Cooke’s whole career.

Apart from the odd arrest of British business folk, very little ever came of these ambitious plans. But then, last May, everything appeared to change. The value of London-listed gambling firms – including 888, Paddy Power Betfair and William Hill – collectively surged by more than £1.5bn after the US supreme court struck down a nationwide ban on sports betting that had stood for 26 years. The Professional and Amateur Sports Protection Act of 1992 (Paspa) – which effectively outlawed sports betting in the US with the exception of a few states – was suddenly unconstitutional.

Gambling execs rejoiced. Cigars were lit; deals were unveiled; and share prices went briskly, er, down.

In a note by analysts at Canaccord earlier this month, as the stockbroker studied the gambling sector in a reporting season, the number-crunchers observed: “The UK sector is trading on close to a four-year valuation low, and there is a lot of bad news baked into the price.”

There are all sorts of factors playing into that, of course. There are the inevitable tax rises and regulatory changes that the industry has to contend with in Europe: but not everything is going perfectly with the American dream, either.

There, what bookies might have gained on the Paspa swings they are now fretting about losing on the Wire Act roundabout.

Earlier this month the US Department of Justice performed a U-turn by ruling that the Wire Act – which it had previously said outlawed only cross-state wire communications for sports betting – also contains “prohibitions [that] sweep beyond sports gambling”.

Heads were scratched, share prices retreated and consolidation plans were given even more of a hearing than usual.

In a note in advance of a trading statement from William Hill last week, analysts at the investment bank Berenberg said that the bookie was “now ripe to be a takeover target”, after its share price almost halved over the past year.

Hill’s has been at the forefront of efforts in the US, too, so taking a punt on the company means betting heavily that a liberalising US market will compensate for the lost revenues in its established jurisdictions, where fixed-odds betting terminals have been gelded and the bookies fear more regulation to prevent addiction.

Cooke, of course, once filed a dispatch about this. In a 2001 Letter from America, he reported: “Heartening news this week that a drug has appeared experimentally which promises, one day, to cure even compulsive gamblers.”

That day has yet to arrive. There’s a parallel in there somewhere.

Gambling firms agree 'whistle-to-whistle' television sport advertising ban

The Remote Gambling Association (RGA), which includes Bet365, Ladbrokes and Paddy Power, has struck a deal to stop adverts during live sports broadcasts.

It follows political pressure about the amount of betting advertising on TV.

More than 90 minutes of adverts were shown during the football World Cup and anti-gambling campaigners say sport's use of adverts "normalises" betting.

There are also fears it contributes to the rise in the amount of problem gamblers - with a Gambling Commission report suggesting 430,000 Britons can be described as such - and helps fuel under-age gambling.

The deal follows extensive talks between firms - also including SkyBet, Betfred, Betfair, Stan James, Gala Coral and William Hill - to ensure no adverts will be broadcast for a defined period before and after a game is broadcast.

The proposal is similar to those made by the Labour party and, importantly, will include any game that starts prior to the 9pm watershed but ends after that time.

The RGA has previously said it was "very mindful of public concerns".

Horse racing will be exempt from the restrictions - given the commercial importance of gambling on its viability - but all other sports will be included.

However, it is the impact on football where the ban will be felt the most, especially given the financial value of the sport to both the gambling companies and broadcasters.

Nearly 60% of clubs in England's top two divisions have gambling companies as shirt sponsors.

Final ratification is needed from the Industry Group for Responsible Gambling (IGRG) before the ban comes into force.

That should be a formality, according to industry insiders, and could come as early as this month or in early 2019.

On Thursday, the RGA said: "The Gambling Industry Code for Socially Responsible Advertising is reviewed annually, and several options are currently being considered as the basis for possible enhancements in 2019.

"However, nothing has yet been finalised."

Tom Watson MP, Labour's Shadow Secretary of State for Digital, Culture, Media and Sport said he was "delighted" by the move as the number of adverts during live sports had "clearly reached crisis levels".

He added: "There was clear public support for these restrictions and I'm glad that the Remote Gambling Association has taken its responsibilities seriously and listened."

Secretary of State for Digital, Culture, Media and Sport, Jeremy Wright MP, said it was a "welcome move".

"Gambling firms banning advertising on TV during live sport is a welcome move and I am pleased that the sector is stepping up and responding to public concerns," he said.

"It is vital children and vulnerable people are protected from the threat of gambling related harm. Companies must be socially responsible."

Sarah Hanratty, chief executive of the Senet Group - the industry's responsible gambling body, funded by the four largest UK gambling companies - said: "It has been clear for some time now that the volume and density of advertising and sponsorship messaging from gambling companies around live sport has become unsustainable.

"This is a welcome move from the leading industry operators who are taking the initiative to respond to public concern."

Could shirt sponsorship be next?
Matt Zarb-Cousin is a spokesperson for Fairer Gambling, a not-for-profit entity campaigning to reduce gambling-related harm and crime.

It is long overdue, there has been a huge amount of pressure on the sector over the volume of advertising which has increased exponentially year on year.

But for it to be truly effective, it should also include shirt and league sponsorship and digital advertising around a pitch.

It is better that there are going to be no ads during live sporting events but that falls some way short of being effective. If the whistle-to-whistle TV advertising ban is justified then the other things are as well.

I think it is worth bearing in mind that it is the broadcasters that have been most resistant to the clampdown on advertising.

I think the writing is on the wall. If they hadn't done this, the government would have acted anyway, perhaps next year.

There is no legislation in the pipeline but the strength of feeling cross-party and in both houses suggests that it is unsustainable.

Will it make a difference?
Marc Etches is the chief executive of GambleAware, a leading charity committed to minimising gambling-related harm.

We have been saying for a long time now that gambling is being increasingly normalised for children. They are growing up in a very different world than their parents, one where technology and the internet are ever present.

So while we welcome this move by betting companies, it is important to pay attention to analysis that shows the marketing spend online is five times the amount spent on television.

The fact that it is reported that one in eight 11 to 16 year olds are following gambling companies on social media is very concerning.

Paddy Power prices down ‘Referendum Part Deux’!

The UK government’s struggle to finalise terms on a 2019 Brexit arrangement, has seen Paddy Power Politics price down its odds on a ‘Second UK-EU Referendum’.

Updating its UK political markets, Paddy Power now rates the chances of a second referendum before April 1st 2019 at 9/4 slashing down its previous odds from 3/1.

This week the EU’s Chief Brexit Negotiator Michel Barnier stated that member states would reject PM Theresa May’s White Paper presenting the UK stance on a future EU customs arrangement.

Whilst at home, May faces a Conservative Party divide relating to EU-exit negotiations and Brexit red-lines.

Furthermore, with just eight months of exit negotiations left, the heads of UK industry and enterprise are adding pressure on May to deliver clarity on the terms of the UK’s leaving the European Union.

“If that second referendum were granted – presumably with some kind of terms of exit outlined – Paddy Power make Remain the overwhelming favourite to succeed (1/7) with Leave the rank outsiders (4/1). Though we’ve heard that before.” details the Irish bookmaker!

Spokesman Paddy Power said: “After more than two years of careful negotiation and strategising, the best thing achieved by the Brexit process has been to remove David Cameron and Boris Johnson from positions of power.

“With virtually no opposition, the Prime Minister has been able to dilly-dally and perform a prompt change of hearts regularly – so why wouldn’t she produce an EU-turn now?

“Such indecision should’ve been clear the moment she took charge, though. Because… Theresa May but, then again, Theresa May not.”

Paddy Power – Brexit Specials

1/2 No Deal to be reached by Brexit deadline
10/11 A Tory leadership contest to take place in 2018
9/4 A second EU membership referendum to be held before the Brexit deadline
5/2 The UK to apply to re-join the EU by 2027
10/3 A General Election to be held this year

Second Referendum Results
1/7 Remain
4/1 Leave

Come on Russia! Paddy Power hits £80,000 for LGBT+ charities

Paddy Power is revelling in its World Cup 2018 charitable campaign ‘Rainbow Russians’, having racked up £80,000 in donations for LGBT and equality/inclusivity causes.

In partnership with Attitude Magazine’s ‘Foundation’, Paddy Power launched Rainbow Russians’ at the start of Russia 2018, detailing that the bookmaker would challenge LGBT+ prejudices and homophobia in football.

The charitable campaign sees Paddy Power ‘Put-in’ £10,000 to Attitude Magazine’s Foundation for every goal Russia scores during its World Cup 2018 campaign.

Following Russia’s 3-1 win over Egypt on Tuesday night, Paddy Power has raised £80,000 in donations, as an unfancied Sbornaya has delivered for the bookmaker.

Commenting on the campaign, Amy Jones Paddy Power’s PR & UK Mischief Maker detailed; “Following the host’s first game against Saudi Arabia – where they netted five – it was announced that £10,000 of the money will fund 20 members of the LGBT+ community to become fully qualified referees.”

So, thank you to Denis Cheryshev (who has topped up the fund by £30,000 himself so far), Artem Dzyuba and Ahmed Fathi’s own goal last night for their contributions to the campaign…Just keep on scoring lads!”

Paddy Power unwilling to bet big on US growth plan

Earlier this week, the US state passed laws legalising certain betting activity such as online poker, casino games and betting on fantasy sports leagues. Paddy Power-Betfair has a strong presence in the US — via its TVG online horse racing outlet, its New Jersey-based online casino offering and Draft, a New York-based outlet focused on fantasy sports league betting, which it acquired earlier this year — and has welcomed the move in Pennsylvania.

However, outgoing chief executive Breon Corcoran told analysts on the company’s third quarter earnings call that it is unlikely to usher in a wholesale loosening of US betting laws.

“With respect to sports betting [in the US], in particular, I think we’re probably less bullish than most people. We think there’s an awful long way to go from where we are today to a legalised framework for sports betting that’s accessible to offshore operators,” he said.

“Draft is showing that we can acquire customers that we wouldn’t have acquired through the horse racing business. But, we still think sports betting, as we know it in Europe, is a long way away [in the US],” Mr Corcoran — who is formally leaving the company in early January — added.

Chief financial officer Alex Gersh, however, said that if that opinion was to be proven wrong, the group has substantially more ability than its competitors to invest in the US.

Paddy Power-Betfair’s third quarter trading update showed a 9% year-on-year increase in group revenue to £440m (€502m) and a 7% rise in underlying earnings to £121m. Mr Corcoran called the performance “encouraging” — particularly with the absence of any major football tournament in the late summer months.

Online revenue fell 3%, year-on-year, to £216m and gaming revenue was flat at £60m, with management saying it has no idea when that part of the business will return to growth. Overall, management expects full-year group earnings to be between £450m and £465m. Last year it generated earnings of £400m.

Third quarter retail revenues rose 12%, with the group announcing it has reached agreement — with an unnamed party — for the acquisition of another five UK shops. On a geographical basis, US revenues rose 18% and Australia-based revenues were up 29%. Most of the bets the group took on September’s Conor McGregor/Floyd Mayweather boxing match came via its Australian online avenue.

Now hiring: Paddy Power seeks Trump expert

Calling all gambling and American politics enthusiasts, Irish bookmaker Paddy Power may have the right job just for you. CNN reported that Paddy Power is looking for a head of Trump betting to handle the rise of wagers related to the U.S. President.

Now hiring: Paddy Power seeks Trump expertPaddy Power listed the job in its online Careers section in March but recently began placing ads in the classified sections of two popular British newspapers to drum up interest. According to the advertisement, successful applicant will work in Dublin, the capital city of Ireland.

“We want to make American politics great again. Because, let’s face it, there’s no chance Trump will,” the supposed Paddy Power advertisement read. “With more than 100 special bets online, the successful candidate will monitor and manage existing Trump markets while devising new specials to launch.”

The chosen applicant will “also need to build a wall around the hub to ensure foreign bets don’t get in.” The job is full time — three months for now, with a possible extension.

Lee Price, a spokesman for Paddy Power, pointed out that the interest in Trump-related bets is about 50 times what it was when Barack Obama moved into the White House.

But with players showing much interest on Trump, Lee said that they want the applicant to come up with creative bets.
Paddy Power launched several Trump specials, including betting on the fate of Obamacare under the President Trump, or whether Trump will paint the White House gold. There’s also a Trump special asking players to bet on whether American state will try to secede.

“The job is to be an expert in all things Trump,” Price said. “In the spirit of Donald Trump‘s presidency, we’re saying no experience required.”

When asked if there are any takers for the role, Price pointed out that they received hundreds of applications but not really serious about taking the job. Hopefully, Prince said that they’ll be able to start the job interview by the end of this week.

“If demand continues, so will the role,” Price said. “We’re sure Trump will keep us busy.”

Paddy Power to Lose $3.33M from US Elections Wager

The Irish bookmaker is reportedly looking at a €3 million (US$ 3.33 million) loss after American voters elected businessman Donald Trump as the next president of the United States.

Paddy Power to Lose $3.33M from US Elections WagerThis is the second time that Paddy Power Betfair found itself in the wrong side of political wagering since the UK voted to leave the European Union by a margin of 52-48 on June 23.

Paddy Power spokesman Féilim Mac An Iomaire told The Independent that the surprising twist in the US elections was reminiscent of what it saw in the “Brexit.”

“You could say it’s deja vu again,” said Mac An Iomaire. “Much like Brexit, it looked to be following the odds early on before a dramatic turnaround.”

Throughout the election campaign, the Irish bookmaker had predicted Clinton winning the Nov. 8 presidential polls. Paddy Power even made headlines last month by paying out about $1 million to customers who had bet on Clinton, saying the odds were so firmly in her favor that they wanted to get out of the bet.

But this all changed when the polling precincts opened on Tuesday. Paddy Power had Trump chance of victory at 83.3pc and Clinton’s at 22.2 percent.

“Paddy Power … will be on the receiving end of its worst political result in history if Trump does manage to upset the odds,” it said in a statement.

Meanwhile, the US presidential elections are set to eclipse the wagers made during the Brexit referendum, the Royal baby and all previous elections. CNN reported that the UK gambling industry is looking at more than £150 million ($186 million) to be wagered on the outcome of the 2016 U.S. elections.

So far, oddsmakers said they are looking at more than £130 million ($161 million) to be wagered by British punters. Should money bets surpasses £150 million, then the 2016 US presidential elections is poised to become the biggest non-sport betting event in British history.

Merger costs leave Paddy Power Betfair with £47.5m loss

Merger costs left Paddy Power Betfair with a £47.5 million sterling (€55.4 million) loss at the end of June.

The group also announced that that Paddy Power co-founder Stewart Kenny, who as chief executive led the Irish bookie’s flotation in 2001, is stepping down from the board.

Paddy Power Betfair said on Wednesday that revenues grew 18 per cent to £759 million in the six months ended June 30th from £642 million million during the same period last year.

Operating profits grew 39 per cent to £147.6 million from £106.5 million over the same period.

However, a charge of £195.1 million for the cost of merging Paddy Power and Betfair to create the group in February, left it with a £47.5 million loss.

That included £49 million for integrating the two businesses , which is likely to have cost a total of £65 million by the year’s end, and £50 million in fees and duty.

Chief executive, Breon Corcoran said that the restructuring that followed the merger of Paddy Power and Betfair in February is now completed and that savings are being delivered ahead of schedule.

Paddy Power Betfair now believes that the merger will cut the enlarged group’s costs by £65 million, £15 million more than originally expected, with the full benefit of this kicking in next year.

The group expects that earnings for the full year will be between £365 million and £385 million, 22 per cent to 25 per cent more than the £296 million total that the two businesses generated in 2015.

Its accounts treat the group’s figures as if Paddy Power and Betfair had always been merged.

In the first half, its on-line division, including Paddy Power and Betfair in Ireland, Britain and Europe, earned £140 million in operating profits, 40 per cent more than during the same period last year.

Its 603 Paddy Power betting shops in Britain and Ireland grew profits by 21 per cent to £23 million.

A sharp rise in costs left operating profits from Sportsbet in Australia trailing by 12 per cent at £26.1 million.

Product fees, inflation and an increase in jobs combined to drive the increase in costs. The group expects this to ease in the second half.

Profits at its US division, which includes of the horseracing and betting network, TVG and Betfair Casino, increased by more than 153 per cent to £2.9 milion.

Mr Corcoran pointed out that its industry remained highly competitive and was subject to regulation and economic conditions.

“Our strong market positions, increased scale and enhanced capabilities position us well for sustainable, profitable growth,” he said.

Mr Kenny co-founded Paddy Power in 1988 and was chief executive until 2002, the year after it launched on the Dublin stock market, and chaired it for a further year.

Current chairman, Gary McGann, noted Mr Kenny was retiring after many years of service to the company. “We wish him every success in the future and thank him for his incredible contribution to this business,” Mr McGann said.

Paddy Power Betfair falls after negative broker comments

The merger of Paddy Power and Betfair has seen the combined company join the FTSE 100, but analysts at Credit Suisse believe its share price performance has been overdone.

Two months after the merger, which was completed at the start of February, Paddy Power Betfair announced 650 job cuts, but Credit Suisse says cost cutting is not the best reason for combining the two businesses. Analyst Ed Birkin said:

We feel that cost synergies alone are a poor rationale for M&A in a growth industry such as online gaming. Furthermore, we believe that scale is not as important as many believe, and is no indication of potential market share gains. With regards to Paddy Power and Betfair, as both companies already had strong brands, high quality management teams and good product/technology offerings, we question the extent of the benefits from a merger.

We think the post-merger share price reaction has been overdone and, given the integration risk and limited revenue synergies, we initiate with an underperform rating and 8,650p target price (c.9% downside potential).

The valuation looks expensive versus peers, with only 15% of the current enterprise value of Paddy Power Betfair being generated by cash flows over the next five years, compared to 29% for William Hill and 28% for Ladbrokes, on our numbers.

The negative comments have helped send the company’s shares down 250p to £90.80. Birkin said there was potential for increased earnings from the the merger but said:

The consensus view on Paddy Power Betfair is that its scale will allow it to make significant market share gains and achieve strong operational gearing.

By contrast, we show that:

- Market share gains are very difficult to achieve in the UK, and Paddy Power/Betfair has consistently underperformed the market on a pro-forma view 2010-2014.

- Operational gearing is difficult in the online gaming space. While both companies showed underlying operational gearing last year, we think this was due to one off cost savings to offset the point of consumption tax rather than it being sustainable on a multi-year view. We use the case study of William Hill Online, where the company has seen little if any operational gearing, in a period where revenues have almost trebled.

- Revenue synergies will likely be relatively immaterial – the company has guided to the cost synergies of the deal, but there has been significant market focus on potential revenue synergies. By contrast, we do not think the deal has the potential to generate significant revenues synergies – in part due to the desire to keep the brands differentiated.

Paddy Power Betfair reveals plans to cut 300 Irish jobs

Now that the €10 billion merger of Paddy Power and Betfair has been completed and the company had enough time to do calculations, the new entity, Paddy Power Betfair, revealed plans to cut around 10% of its workforce.

The group’s overall number of employees counts 7,200 people and the operator wants to let go 650 of them in order to save approximately £50 million (€62 million) a year. This will be accomplished by cutting 300 Irish jobs and additional 350 British ones.

Luckily for Paddy Power’s retail staffers, Betfair had no land-based operations and therefore they’ll get to keep their jobs for the time being. Unfortunately, the situation is far worse for those holding legal, finance and human resources positions as well as technology, risk and trading professionals. It has to be highlighted that the top management hasn’t been spared either; last month Gav Thompson, chief marketing officer, left the team alongside Andy McCue who was chief operating officer.

Paddy Power Betfair has notified all employees about its plans via emails on Monday, offering four weeks’ pay for each year of service plus their statutory redundancy entitlement to those whose services are no longer needed. In other words, redundant staff would get a total severance package of six weeks’ pay for each year they spent in the company. Additionally, the group explained that there will be limited opportunities for redeployment and pointed out that redundant employees were likely to get new jobs quickly because their skills were in demand.

Remaining staff, according to the revealed plan, will be located in single offices. Therefore, Betfair’s office in Ringsend, Dublin will be moved to Paddy Power’s HQ in Clonskeagh. The company’s main office in Britain will be in Hammersmith, London. Relocation is expected to end by August, when the group will publish its first interim results as well.

Why Paddy Betfair and 888 are the two best gamers for investment

Trading is a losing game if it is your chief strategy. You’ll win big sometimes and you’ll lose big other times, but taken together it will be a loss unless you are a time traveler. Chances are, you’re not, so long term investment is the only long term winning strategy. Warren Buffett demonstrated this long ago, and it still holds true for any industry. This is precisely why we only held 0.5% in Caesars puts before the big Davis Report release last week. Though correct on outcome, I was wrong on magnitude which led to a loss. We can try again in May with a smaller sum when the next big court decision is scheduled, but a 0.5% is easily recoverable.

Why Paddy Betfair and 888 are the Two Best Gamers for InvestmentBottom line, Paddy Power Betfair and 888 are the best companies to hold long term. 888 is higher by 15.6% since January 19, and while Paddy Power is more of a math problem considering the merger, its growth is obvious and in the right places. Both companies represent two models of growth, so hedging between them makes sense. 888 is the model of go-it-alone growth, not intentionally, but that is what ended up happening. The advantages are less leverage, less internal politics, more control over itself, less contracts and more just doing business. The disadvantages are that going it alone makes it harder to command market share all else being equal. Given that both companies are good at what they do, both may end up growing nicely long term with both strategies. It’s just good to have a stake in both for diversification.

The politics are already evident with Paddy Power Betfair as former Paddy CEO Andy McCue has chosen to leave in order to pursue new opportunities. Perhaps this was planned, amicable, the ultimate goal and all the rest. But even if it was, it still shows the downsides of mergers. You can have talent coming from both sides, but one side will always be dominant over the other, and hopefully the gain will be greater than the loss. That’s just the nature of business reality.

Last week we dealt with the tax blow to 888, and that really is the ultimate factor here between Paddy Power Betfair and 888, which in itself is a sad thing. Both companies’ growth strategies seem to be working, so the difference between them is really who can scale up best to defend against new tax regimes. When tax questions become the ultimate competition between businesses, what you have is no longer business but defensive maneuvering around politicians. It’s a whole different and more arbitrary game.

With taxes you need scale to overcome it. That’s the essence of the tragedy because the higher the taxes, the more advantage big business has over small business. This is what spurs mergers in the first place. The more politics tries (in name only) to even out the playing field, the more it ends up skewing it. On the one hand you have 888, which if it can grow itself out of its new tax hole (it looks like it’s going in that direction), will have all the profits to itself. On the other hand you have Paddy Power Betfair, which is trying to overcome the new tax regime by merging. Both strategies are worth a try, which is why both Paddy Power Betfair and 888 are worth investing in with equal weighting. Who will win? Maybe one, maybe both, maybe to different degrees. The big picture is that they are both safe investments.

Regardless of capital gains, Paddy Power Betfair will be giving out 50% of its profits in dividends, a pretty good long term balance between shareholder reward and continued investment. Unregulated market revenue is not very significant at 6%, so if it is suddenly shut down by some legislative act or other, it won’t be a very big deal. For Betfair alone, revenue is up equally in sports, gaming, and Befair US all at around 20%, which shows a very balanced business. On top of that, total revenue growth itself of 31% was driven by an almost equal 27% increase in active customers. This means most of Betfair’s growth for the latest quarter was organic.

Mobile revenue growth is up 63% for Betfair. Mobile will continue to outpace all other growth outlets so no complaints there. This summer, New Jersey horseracing will open up, not a huge bump but still a good sign of diversification. Back to Paddy Power alone, there was 18% growth in amounts staked for 2015 and net revenue growth of 19%, meaning amounts staked is almost 1:1 to revenue, also a sign of good organic growth.

Perhaps the most important sign of growth for Paddy alone (this will get less confusing when they start reporting together) is that 44% of its top line last year was in Australia. This almost makes Paddy Power de facto an Australian company. The Australian market should excite all gaming investors because the country is both geographically and politically relatively isolated. There are no EU referendums to worry about, no major terrorism problems right now, no Eurozone currency debacles, nothing of the kind. It’s just hanging out there in the middle of the Pacific, not bothering anyone and being relatively little bothered by political developments compared to other hubs.

An investment in Paddy Power Betfair is a dual investment in the UK and Australia. UK is at 40% of operating profit (Paddy alone), meaning both markets constitute 84% of total business for Paddy alone, and the merged group is heading towards heavier Australian activity. Paddy profit in the UK is down 21% for the year, but up a phenomenal 52% in Australia. A good number but nothing to get excited about long term is growth in Italy, Ireland, and Rest of World at 10%, but Italy and Ireland are Eurozone bottom-feeders so this growth is not to be relied on, and the US is unpredictable with the continuing evolution of its complicated gambling laws.

Bottom line is, if you’re looking for stability and relative insulation from political earthquakes, somewhere you can put your money, ignore it, and check back in 10 years, Paddy Power Betfair is the place to be. Together with 888, they are both good hedges against each other as to which will outperform the other, while both will probably do well regardless of who does better. While 888 may have an easier time with internal politics and deciding its ultimate direction, Paddy Power Betfair may have an easier time with overcoming the new tax regime and growing past it. Both corporate strategies are good to have exposure to.

Paddy Power Betfair selects SafeCharge’s Personalised Cashier

The largest Internet betting exchange; Paddy Power Betfair selected SafeCharge to provide a comprehensive technology based solution for alternative payment method deposits and withdrawals.

SafeCharge today announced that Paddy Power Betfair, provider of a full range of sports betting and gaming products and one of the largest online gaming operators in the world has selected SafeCharge’s Personalised Cashier to facilitate the checkout journey of its players globally. SafeCharge’s Personalised Cashier is a unique technology-based solution for deposits, withdrawals and diverse alternative payment methods that optimises all aspects of the payment funnel.

The solution includes multiple approaches to assist players at home or on the go complete their deposits simpler and faster. For winnings the solution allows for a fully transparent initiation and management of withdrawal requests.

Stephen Moffat, Head of Payments, Paddy Power Betfair stated:

“We selected SafeCharge due to their proven and extensive experience in the online gaming industry and the superiority of their technology. They were able to provide us with a simple integration, a superior front-end Cashier solution and a quick and easy method to add multiple alternative payment methods.”

David Avgi, CEO, SafeCharge commented:

“We are proud to be selected by Paddy Power Betfair to facilitate the globalisation and diversification of their online payments which demonstrates their trust in the robustness, feature richness and the absolute availability of our services. Both Paddy Power Betfair and SafeCharge management teams are committed to achieve the vision of a more secure and effective journey for players during the sensitive processes of deposit and withdrawal.”

Betfred looking at 500 betting shop sale off

With the Ladbrokes and Coral deal moving forward with the £2.3 billion merger, Betfred are looking to possibly snap up some 500 betting shops from the newly combined betting firm that Betfred believe will have to be sold to allow the deal through the Competitions Commission.

Currently Ladbrokes and Coral have a combined estate of 4,000 sites and to get the deal through the competition commission the business believes it will have to shed some 500 betting shops and that’s where Betfred hope to profit.

Fred Done, who founded the business with his brother Peter 48 years ago, told The Sunday Telegraph he would “absolutely” be willing to talk to the bookmakers about buying sites offloaded to gain regulatory approval for the deal.

“We operate just short of 1,400 shops, another 400 or 500 shops wouldn’t be a problem to run,” he said. “If somebody knocks at my door and says: ‘Fred, do you want to buy some of these shops?’, I’d like to sit down with Coral and Ladbrokes and have a discussion with them.”

Most analyst’s say that with the merged company having some 45% share of the market by the number of betting shops and 47% share of total revenues in betting shops in the UK many say that a sale of some 500 shops will have to happen to reduce that share percentage.

However Betfred think there will be competition for those shops from Paddy Power, private equity firms and foreign buyers.