Who are Fred and Peter Done?
The Done brothers are British billionaires who have made a significant mark in the gambling industry. They grew up in what Fred Done’s brother, Peter Done, described as the “slums of Salford,” where they shared a modest home with two siblings.
Fred, the elder brother, was born in March 1943, and Peter arrived four years later in 1947. They were raised in Oddsall, a rough neighborhood in Salford, Manchester, and this humble upbringing was marked by financial struggles.
At 15, both boys left school without qualifications to join their father’s illegal bookmaking business. Notably, Fred had already begun working as an illegal bookmaker runner at 12 while still in school. So, by the time he left school at 15, Fred Done betting runs had already earned him £1,000.
In 1966, Fred officially entered the bookmaking scene after winning £1600 from a £200 bet on England’s World Cup victory. Together with his brother Peter, they used the winnings to purchase their first bookie shop and named it “Done Bookmakers.” In 2004, it became Betfred, growing to 1,650 shops and recording a £10 billion turnover by 2018.
While running Betfred, the Done brothers founded another major business, the Peninsula, in 1983. This business was eventually delegated to Peter Done, the Betfred bookie co-founder, as it needed someone’s full-time attention at the time. Interestingly, the brothers decided who would run Peninsula with a coin toss. Peter’s focus on Peninsula led him to step back from active Betfred management but remained a significant shareholder. Under his leadership, Peninsula expanded globally, reaching a valuation of over £1 billion.
