BETFRED claimed around £50million in furlough payments from the Government despite enjoying rising profits, it has been revealed.

The BBC reports that the Birchwood-based betting giant, which operates around 1,500 bookmaking shops across the country, received £28.1million from furlough in the financial year ending in September 2020.

Meanwhile, its subsidiary company Done Brothers Cash Betting Ltd claimed between £18.5million and £37.5million from Dec 2020 to May 2021 according to HM Revenue and Customs data – which only gives a range, rather than specific figures.

Therefore, the total claimed during these dates is between £46.6million and £65.6million – although the number does not include any monies received in October or November 2020.

Betfred saw its turnover fall from £621million to £525million in the year ending September 2020 as lockdowns forced branches to close.

But the group still made substantial profits, up from £171million to £205million – lifted by ‘one-off gains’, including £98million resulting from a successful court case against HMRC for VAT paid on fixed-odds betting terminals between 2005 and 2013.

A Betfred spokesman said: “Thanks to the Government’s job retention scheme, we have not had to make a single redundancy due to the pandemic and we will continue to invest in our shops on the high street.”