Who is Fred Done ?

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Who is Fred Done
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Who is Fred Done ? Fred Done is the owner of the betting company ‘Betfred’ in the United Kingdom.

When was he born ?

1943

Where was he born ?

Ordsall, Salford, Manchester

What did his parents do ?

His dad was an illegal bookmaker

Schooling

He left school at fifteen

What was his first job ?

He worked for his dad collecting and paying out bets

First business

He set-up his own bookmakers (betting shop) called Done Bookmakers located in Pendlebury, Salford  in 1967. (Bookmaking had become legal in 1961)

Done has expanded the business all over the UK to over 1,600 betting shops. He grew the company by buying up chains of existing bookmakers whose owners wanted out.

His company successfully purchased the Government owned Tote system which controlled bookmaking at racecourses all over the UK. He merged this with his own companies to create Bet Fred.

What is Betfred ?

It is a chain of betting shops in United Kingdom. it can be found on companies house here

What other businesses does he own ?
  • Golden tree financial services
  • Peninsula business services
  • Property company Salboy
Quotes

“If two plus two equals six then that’s a winning business, if two plus two equals four, then forget about it,”

“We would drive to a place, park up, and then walk around. I used to call it ‘walking the course’ and I still do that now. You see stuff by walking that you wouldn’t see in a car.”

“If I was buying a new business, I wasn’t always interested in seeing the books, because after a walk, I would know before I went into the shop whether I wanted it.”

Does gambling prey on the desperate ?

Done has built up a huge business providing bookmaking services. People can gamble on horseracing, sports and all manner of things.

They base their shops close to places where working class people will pass by including:

  • pubs
  • factories
  • taxi ranks
  • post offices
  • bus stations

If you walk past these stores and look at the people coming in and out, a lot of them do not appear to be doing very well.

Gambling makes the majority of its money on addicts who cannot stop gambling and will continue gambling until all their money is gone.

But there is room for debate, as in all things. Businesses such as Betfred do provide a fun, entertaining service to non addicts to enjoy ‘ a cheeky flutter’ now and again. They also contribute to a busy, active high street and town centre.

Many other businesses have business models that are based on addicts spending all their money with them – think of alcoholics and pubs, dealers and drug addicts, confectionary companies and sugar, cafes and coffee.

Do we stop all of these useful services because of addicts? If we magically could cure all addicts then these companies would probably go out of business or at least reduce in size.

Perhaps the future is to simply tax these products and that money go specifically to care for the inevitable addicts.

It is an incredibly complex issue and with intensive lobbying from both sides cancelling each other out, the status quo will most likely continue and addicts will keep living in misery.




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Charlie Standen
Charlie Standen
Charlie started out as a quantity surveyor and project manager before moving into property development and property investment. He also enjoys all aspects of writing, videography, and new media. He writes content for the property development course on property development, property investment, and property finance.