Betfred has expanded its presence in South Africa with the purchase of online lottery betting, and live dealer casino provider, LottoStar.
The deal expands on Betfred’s continued participation in the South African market which includes the 2020 purchase of Betting World, another licensed betting operator that was originally Phumelela’s online betting component. Betfred was initially rejected in an attempt to acquire the South African heritage wagering and racetrack operator’s digital business a year earlier.
In addition to Betting World, Betfred also acquired a majority share of Sepals Sportsbet in South Africa earlier.
Even More Betting Shops
Along with about 1,500 high street betting shops in Great Britain, Betfred now has over 50 shops in South Africa. Lottostar players also have over 70 locations where vouchers can be purchased for play online.
Rather than offering a messenger service for world lottery tickets, as international lottery ticket sales are not legal in South Africa, Lottostar uses the insurance model to offer fixed-odds betting on the results of lotteries. Jackpots are paid out directly from its insurance provider with all smaller prizes being paid by LottoStar in much the same way most online casino gaming bets are settled.
According to the site, “LottoStar holds a Bookmakers’ license issued by the Mpumalanga Economic Regulator and operates as an online fixed-odds betting company.”
In a message welcoming the woman-founded business to the Betfred family, Betfred Chief Executive Officer, Joanne Whittaker said the firm had taken a majority share in the firm founded and headed by Tasoulla Hadjigeorgiou.
Fast-Growing Business
Whittaker expanded on the announcement: “We are delighted to partner with such a fast-growing company in South Africa, 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.”
Hadjigeorgiou, added: “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.”
“We are confident that this partnership will broaden our offering and provide our customers with the highest quality services.”
In addition to mobile sports betting, high street betting shops, an extensive network of deployments in the USA, and the new SA businesses, Betfred maintains a comprehensive online gambling site with RNG games, live games, and sports.
Source: Betfred takes majority shareholding in South Africa’s LottoStar, GamblingInsider, June 24, 2022