Victor Chandler
| Victor Chandler | |
|---|---|
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| Born | 18 April 1951 |
| Education | Highgate School and Millfield School |
| Occupation | Bookmaker, Former Chairman, Victor Chandler International |
| Website | www |
Victor Chandler (born 18 April 1951) is a British businessman, and former chairman of the company BetVictor, legally Victor Chandler International.
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.
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.
In the 2009 Sunday Times rich list Chandler was ranked 362nd with a fortune estimated at £150 million, falling from the previous year's estimation of £365 million.
In an article in the Observer in June 2008 Victor spoke of his friendship with the artist Lucian Freud, and mentioned the portrait of Victor which Freud completed which was sold for £4.5m in 2006.
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