BetVictor

Betvictor Ltd (formerly Victor Chandler International Limited), is a bookmaker. Having initially specialised in online sports betting, the company now incorporates online casino. The company was originally set up and named after its former chairman, Victor Chandler, before a rebrand to BetVictor. The company is now owned by businessman and racehorse owner Michael Tabor, with operational headquarters in Gibraltar.

BetVictor
TypePrivate
IndustryGambling
Founded1946
FounderWilliam Chandler
Headquarters
Gibraltar
Key people
Michael Tabor, Victor Chandler, former(Chairman)
DivisionsSports Betting, Online Casino

History

The company was founded by William Chandler who owned Walthamstow Stadium, which he opened in 1931.[1] After the death of William Chandler in 1946 the business was passed to his five sons with Charles and Percy managing Walthamstow Stadium whilst the bookmaking business passed to Victor Sr. and Jack. The remaining son Ronnie trained greyhounds.[1] Victor Sr. died suddenly in 1974 and the business passed over to Victor Jr., who at the time was working in the hotel industry in Spain. In 1998 took the historic step of taking his entire business off-shore to avoid UK gambling tax, moving the headquarters to Gibraltar.[2] It has been argued this was a cause for Gordon Brown abolishing gambling tax in his 2001 budget.[3]

In 2004 the company was renamed 'VC Bet' for branding reasons, although in late 2008 Chandler himself chose to revert the name to 'Victor Chandler'.[4] In 2012, the company renamed itself again as BetVictor. The company is also a member of the Gibraltar Betting and Gaming Association[5] In May 2014 businessman and major shareholder of Victor Chandler International, Michael Tabor took over the company.[6] The company now claims to turn over in excess of £1 billion and have over a half a million customers in more than 160 different countries.[7]

In September 2021, BetVictor announced its partnership with Quantum Metric. The deal provided BetVictor the ability to use users collected data in order to evolve and develop consumer-centric products.[8]

Sponsorship

BetVictor has sponsored several sporting events over the years, most notably the grade 1 listed Victor Chandler Chase at Ascot Racecourse. The company has also sponsored the Welsh Open snooker, the World Matchplay darts, and Fulham F.C.[9]

Regulatory actions

In February 2022 BetVictor faced a £2 million (€2.4/$2.7 million) regulatory action after the UK Gambling Commission investigation revealed fairness, social responsibility, and anti-money laundering failures.[10]

The operator will pay the money as part of a settlement with the Commission.

Settlement money will go to the National Strategy to Reduce Gambling Harms.

References
  1. Genders, Roy (1990). NGRC book of Greyhound Racing. Pelham Books Ltd. ISBN 0-7207-1804-X.
  2. "Betting on Gibraltar". BBC News. 1999-05-14. Retrieved 2010-05-27.
  3. https://whalebets.com UK could become internet gambling leader|OUT-LAW.COM
  4. "VC Bet reverts back to Victor Chandler". Archived from the original on 2009-01-06. Retrieved 2009-01-22.
  5. "GBGA". Archived from the original on 9 September 2019. Retrieved 21 January 2014.
  6. Racing Post
  7. https://www.betvictor.com/
  8. "BetVictor Partners with Quantum Metric for the next step towards player-centricity". Cision Pr Newswire. 15 September 2021. Retrieved 28 March 2022.{{cite journal}}: CS1 maint: url-status (link)
  9. "Fulham swaps betting operators in new shirt deal with BetVictor". 7 September 2020. Monday, 7 September 2020
  10. "Online gambling business faces £2m regulatory action - Gambling Commission". 24 February 2022. Retrieved 24 February 2022.
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