Victor Chandler

Victor Chandler
Born 18 April 1951[1]
Education Highgate School and Millfield School
Occupation Bookmaker, Former Chairman, Victor Chandler International
Website www.betvictor.com

Victor Chandler (born 18 April 1951) is a British businessman, and former chairman of the company BetVictor, legally Victor Chandler International.[2]

Off-shore bookmaking

Victor Chandler is often credited as the first bookmaker to recognise the importance of online gambling, as well as being the first to move his gaming business offshore.

In the early 1990s, Victor began to accept football wagers from far-eastern clients and, in doing so, he recognised the potential growth in foreign markets. He opened up an office in Antigua to enable these clients to bet without the need to pay UK tax.

In the UK, punters were required to pay a 9% betting tax but, in 1996, Chandler obtained a betting licence in Gibraltar and in 1999 moved his entire business there. Over the next decade the company grew quickly and he now employs over 400 people and is the largest private employer on the Rock. Victor Chandler has offered free betting from £5, and in 2001 the then Chancellor of the Exchequer Gordon Brown announced that he was scrapping UK betting tax.[3]

Horse ownership

Chandler has owned many racehorses over the past three decades in UK, South Africa & US. Following some success over the years, Chandler formed a syndicate called "Men In Our Position" which owned the 2009 Cheltenham Triumph Hurdle winner Zaynar, trained by Nicky Henderson. Zaynar re-appeared on 21 November 2009 at Ascot Racecourse where he demolished a top-class field in winning the Coral Ascot Hurdle by 6 lengths as reported by the Racing Post. Zaynar was then aimed at the Champion Hurdle, for which he was one of the Ante-Post favourites for the race. After running a galant race Zaynar finished third in the race.

Personal wealth

In the 2009 Sunday Times rich list Chandler was ranked 362nd with a fortune estimated at £150 million,[4] falling from the previous year's estimation of £365 million.[5]

Lucian Freud friendship

In an article in the Observer in June 2008 Victor spoke of his friendship with the artist Lucian Freud,[6] and mentioned the portrait of Victor which Freud completed which was sold for £4.5m in 2006.[7]

Nottingham Forest

In July 2009 Victor Chandler agreed to become the main sponsor of Nottingham Forest F.C. [8] for a reported "significant six-figure fee". As part of his sponsorship he offered to pay for the following year's season tickets for Forest fans who opened an online account should Forest win the league. At the time of the offer Forest were rated as 80/1 outsiders to do this, but after an amazing run of 19 games undefeated, Forest were second in the Championship in January 2010 and Chandler claimed Forest winning the league would cost him approximately £6m.[9] After a poor March and April Forest's chances of winning the league receded and they instead qualified for the Football League play-offs where they were eliminated by Blackpool at the semi-final stage.

References

  1. ↑ "Many happy returns...". The Racing Post. 18 April 2013. Retrieved 18 April 2013.
  2. ↑ http://midas.picdar.co.uk/cgi-bin/RP?MatchIndex=1&urn=718521033&Random=1288392024&FFAC=WM0000022791&searchid=2
  3. ↑ "UK Will Slash Betting Tax". Tax-news.com. 2000-11-13. Retrieved 2010-02-10.
  4. ↑ Minette Marrin. "Search the Sunday Times Rich List 2009 | Times Online". London: Business.timesonline.co.uk. Retrieved 2010-02-10.
  5. ↑ Goodley, Simon (2008-05-17). "Victor Chandler: The man who calls the odds - Telegraph". London: Telegraph<!. Retrieved 2010-02-10.
  6. ↑ Will Buckley (2008-06-15). "To Victor the spoils | Sport | The Observer". London: Guardian. Retrieved 2010-02-10.
  7. ↑ "Entertainment | Freud portrait could sell for £4m". BBC News. 2005-12-16. Retrieved 2010-02-10.
  8. ↑ "BBC SPORT | Football | My Club | N | Nottm Forest | Forest announce sponsorship deal". BBC News. 2009-07-08. Retrieved 2010-02-10.
  9. ↑ "News | Latest News | Latest News | Victor Chandler's Potential £6m Payout". Nottingham Forest. Retrieved 2010-02-10.
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