Betfred buys majority participation in South Africa’s LottoStar

The British bookmaker is expanding its presence in South Africa.

South Africa.- The British bookmaker Betfred has bought a majority stake in South Africa’s biggest online betting operator, LottoStar. The sum paid had not been disclosed. 

LottoStar, which offers fixed-odds numbers betting and live games, has grown rapidly thanks to high-profile marketing campaigns across South Africa. It’s also known for its significant contributions through its corporate social responsibility initiatives. 

The agreement expands Betfred’s presence in South Africa, where the Warrington-based bookmaker already has 53 betting shops and an online business following its acquisition of Betting World last year, and more recently, Sepels Sportsbet.

Betfred chief executive Joanne Whittaker, who took over from Fred Done last year, said: “The business will not only complement our activity in South Africa but our international businesses in the United States and Europe.

“We look forward to working closely with the LottoStar team to support the continued growth of the business providing world-class games and services to the online betting market in South Africa.”

LottoStar founder and chief executive Tasoulla Hadjigeorgiou said: “LottoStar was founded in 2014 as a family-run business with an innovative model to offer a fixed-odds betting online platform in South Africa.

“As an online betting leader in South Africa, we are excited to partner with one of the UK’s best bookmakers.

“We are confident that this partnership will broaden our offering and provide our customers with the highest quality services. Our partnership also paves the way for greater collaboration and expansion, and we are excited to grow our family.”

Betfred has 1,470 betting shops and an online business in the UK. It has also expanded into the USA and Spain.