Fred Done

Fred Done is the Co-Founder and Chairman of Betfred.  In 50 years, Done has managed to turn a small betting shop in Salford into one of the largest global betting brands. 

In 2026, Done and his brother were among the highest taxpayers in the country, contributing £400.1m ($549.2m) in tax. 

However, the company’s financial report for the 2025/2026 tax year reveals a drop in revenue, perhaps due to its exit from the US online market and a rise in UK taxes. 

When the gamble pays off 

Done comes from humble beginnings. Growing up in the Greater Manchester area in a tiny home, sharing a bedroom with his four siblings. He left school at 15 with no qualifications. 

Gambling has always been a part of Done’s life. After leaving school, he worked in his father’s illegal bookmaking business where he learned the tricks of the trade. 

One year before the 1966 FIFA World Cup’s kick off, Done bet that England would win the whole tournament. That winning wager would fund Done’s first betting shop in Salford and, eventually, his gaming empire. 

Originally known as Done Bookmakers, Done found the early years of his career to be particularly rough. In 1971, he was stabbed five times by a punter who had lost £50 on a bet. 

However, after opening his first shop in 1967, at only 24 years old, Done went on to expand his property portfolio. In 1997, he bought the Robert Walker chain of bookmakers and by 2000 he had increased his number of shops to 200 nationwide. 

In 1998, Done made national news when he decided to pay out early on Manchester United winning the Premier League title. Although the team was 12 points clear, this was one bet that the billionaire wouldn’t end up winning, as Arsenal ended up winning the title in a dramatic comeback. Alas, Done’s love for Manchester United cost him £500,000. 

The birth of Betfred 

The company rebranded into Betfred in 2004, when it launched its website, diving head-first into the world of online sports betting, casinos, games, bingo and more. 

In 2011, Done acquired the state-owned tote operator for £285m, developing the company’s relationship with horse racing and delivering on the promise to financially support the sport.  

Throughout the years, Betfred faced its fair share of controversies.  

In 2020, Done faced public scrutiny for an apparent conflict of interest. Reports emerged about his other company, Peninsula Business Services, profiting off government contracts to provide gambling addiction treatment.  

Findings showed Done personally earned more than £5m over three years, for which he was heavily criticised by various MPs and the NHS chief. 

Furthermore, in 2026, the company was fined £900,000 after an investigation found multiple social responsibility failures. Betfred was found with insufficient processes to identify harm indicators, such as spending, and no systems in place act when flagged.  

This resulted in one customer losing £17,900 within 24 hours. 

That same year, the company took another hit as it reduced the size of its UK retail network. In July, Betfred announced plans to close 132 betting shops, cutting more than 600 jobs.  

The decision was made as a result of the country’s gambling tax increases and rising operating expenses.  

Despite the controversies, Done is also known for his charitable endeavours. He once donated a day of Betfred’s profits from the first day of the Cheltenham festival to the Royal Manchester children’s hospital. Moreover, he promised to donate £200 for every century break played at the snooker World Championships to the Jessie May children’s charity. In the end, he donated £40,000.  

Stepping down as CEO 

Done stepped down as CEO of Betfred in 2021, succeeded by Joanne Whittaker. In 2005, Whittaker, who had previously worked at Betfred, stepped down to start her own business.  

Whittaker opened Fideliti, a company that specialises in providing childcare vouchers and running Childcare Voucher Schemes for parents and families.  

Despite leaving the company, Whittaker received a £100,000 investment from Done, in exchange for 25% stake in the company. 

The business took off and at one point Whittaker left the company to start a new venture. She opened Angel Advance, a debt advice service. Her second company also managed to do well and led her back to where she started, albeit with a sizable promotion.  

Whittaker returned to Betfred with years of entrepreneurial experience. Despite stepping down, Done still works closely with the new CEO. In an interview with Global Gaming Insider Editor Tim Poole, Whittaker said that Done “genuinely works seven days a week.” 

Since then, Betfred has expanded into South Africa opening over 50 betting halls and has taken a majority shareholding in LottoStar.