Betfred said its turnover had risen by £1m to £525.9m in the year to September 26, 2021, because of the performance of its online betting operations during the lockdowns.

The amount for the year wagered with Betfred increased from £6.4bn to just under £7bn. Profit after tax for the year to September 26, 2021 was £5.3 million, down from £165m the previous year. 

The board said: “On an annualised gross basis, amounts wagered, turnover and pre-exceptional EBITDA in the group’s LBOs (licensed betting offices) for the period has decreased due to Covid-19 as a result of the temporary closure of shops from November 2020 to April 2021.

“However, amounts wagered, turnover and pre-exceptional EBITDA for internet operations has increased resulted in an overall increase.”