The bookmaker Betfred has reported a jump in profits as gamblers’ losses mounted after the end of coronavirus restrictions.
The gambling company made profits after tax of nearly £20m [$26m] in the year ending on 25 September 2022, up from just over £5m the year before, according to newly published accounts at Companies House.
Gambling shops were among the last to reopen in the UK during the pandemic, but since then their sales have risen sharply. Betfred’s turnover grew by nearly £200m in the year to 25 September 2022 to reach £723m.
Betfred customers wagered £8.8bn in 2022, a sharp increase on nearly £7bn the year before.
