Betfred, the prominent sports betting operator, has announced a strategic partnership with LottoStar, one of Africa’s leading online betting companies. This agreement comes on the heels of Betfred’s acquisition of Betting World and Sepels Sportsbet, as the company continues to establish its presence in the South African market.
As part of the partnership, Betfred has taken a majority stake in LottoStar, which has been operating in the market since 2014. The CEO of Betfred, Joanne Whittaker, emphasized in a press release that this new arrangement will fortify both companies’ activities in South Africa, with potential benefits for Betfred’s operations in Europe and the US. However, the exact nature of these benefits remains undisclosed.
LottoStar, known for its commitment to corporate social responsibility initiatives, has recently completed a $1 million fund drive for disadvantaged children. The company offers fixed odds betting, live games, and various marketing campaigns on its online platform.
Betfred, with over 1,600 betting shops in the UK and a comprehensive portfolio of online and mobile betting services worldwide, is poised for further growth in the South African market. The company has also been expanding its US footprint with new licenses in Arizona and Louisiana.
In addition, Betfred has recently extended its long-term virtual sports retail partnership with Inspired Entertainment. Inspired has been providing digital content, including virtual horse racing, dog racing, and bingo games, for Betfred for over 15 years. The recent release of Inspired’s first-quarter annual results showed a year-over-year revenue increase of 166%, demonstrating the company’s return to pre-pandemic operational strength.
In conclusion, Betfred’s partnership with LottoStar represents a significant step forward for the company’s growth and expansion in the South African market. The partnership aligns with Betfred’s broader efforts to strengthen its presence and offerings in multiple jurisdictions around the world.