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bet365 Cuts 340 Jobs as UK Gambling Tax Overhaul Bites: A Comprehensive Breakdown

By jili tutorial · September 10, 2026

bet365 Cuts 340 Jobs as UK Gambling Tax Overhaul Bites: A Comprehensive Breakdown

Overview

In September 2026, bet365—one of the world’s largest online gambling operators—announced it would eliminate approximately 340 roles across its European offices. The cuts, which represent roughly 3% of the company’s global workforce, are a direct response to a sharp rise in UK gambling duties and a tougher regulatory environment. This guide explains the announcement in detail, unpacks the tax changes behind it, and places the move within a broader industry trend of shrinking headcount and shop closures.

The Announcement in Detail

Where the Cuts Fall

The company employs roughly 10,000 people globally, so the reduction amounts to about 3% of the total workforce.

Voluntary Redundancies First

bet365 stated it will begin the process with a voluntary redundancy programme. Affected staff have already been informed, and the company emphasized that it “continually review[s] and assess[es] our operations to ensure the business’ long-term future.”

Company Statement

A spokesperson said:

“As an international business, we continually review and assess our operations to ensure the business’ long-term future. We’re currently facing a highly competitive trading environment, plus increased regulatory and tax-related costs.”

This short statement encapsulates the two main pressures: competition and rising costs from government policy.

The Tax and Regulatory Landscape

The Autumn 2025 Budget delivered the most significant overhaul of UK gambling duties in years. Two key changes are directly responsible for bet365’s cost squeeze.

Remote Gaming Duty (RGD) – From 21% to 40%

Remote Betting Rate – From 15% to 25% (from 2027)

Other Duty Changes

Expected Revenue for the Treasury

HM Treasury projects the entire package will raise over £1 billion per year in additional tax revenue.

Why bet365 Is Especially Vulnerable

Unlike major competitors such as Entain, Evoke, or Flutter, bet365 operates exclusively online – it has no network of betting shops. While other operators can absorb some of the cost pressure by closing high-street shops, bet365’s only avenue is to cut corporate and operational roles. The 40% RGD rate has already begun to show up in the monthly performance figures of almost every major UK brand.

Broader Industry Context: A Year of Shrinkage

bet365 is the fifth large UK operator to announce headcount reductions or shop closures in 2026. Here is a summary of the earlier moves:

OperatorAnnouncementScale
Evoke (William Hill, 888)April 2026 annual results~270 shop closures (originally planned ~200)
EntainJuly 2026~500 global job cuts (~2% of workforce) in corporate, product, and tech functions
Betfred31 July 2026Consultation to close 132 shops and cut more than 600 roles
Flutter Entertainment (Paddy Power)3 September 2026Up to 100 Paddy Power shops under review, ~400 roles at risk
bet3658 September 2026~340 roles cut (300 UK, 40 Gibraltar/Malta)

Cumulative Announced Losses

According to the Betting and Gaming Council (BGC), operators had announced 540 shop closures and around 4,500 job losses since the Autumn Budget (26 November 2025). The BGC expects these figures to exceed 600 closures and 5,000 job losses by the end of 2026.

Reactions from Stakeholders

Betting and Gaming Council (BGC)

The trade body issued a strong statement warning against further tax rises:

“The sector repeatedly warned that higher taxes would lead to job losses, less investment and damage to successful British businesses, and sadly that is exactly what we are now seeing. Bet365 is one of Stoke-on-Trent’s biggest employers and a major British success story. The loss of hundreds of jobs will be deeply felt by workers, their families and the wider local economy.”

The BGC urged the Government to “rule out any further tax rises on the sector” and to pursue an “evidence-led approach” that protects jobs and the regulated market while avoiding advantages for the illegal gambling sector.

Local MP for Stoke-on-Trent Central

Gareth Snell, Labour MP, described the job losses as:

“a warning to the regulators and the Treasury”

and noted that these are “well-paid jobs in an area of the country that needs investment.”

The Disputed Job Forecasts

The cuts have revived a controversy that flared up during the Budget debate in autumn 2025.

Conclusion: What This Means for the UK Gambling Sector

bet365’s announcement is both a symptom and a signal. It is a symptom of a structural shift in UK gambling taxation that makes online-only operations significantly more expensive. It is also a signal that, despite warnings from the industry, the Treasury has prioritized tax revenue over employment at a time when many operators are already squeezed.

For workers in Stoke-on-Trent and in Gibraltar/Malta, the immediate consequence is uncertainty. For the wider industry, the coming years will likely see further consolidation, automation, and a continued shift of resources away from the UK market to lower-tax jurisdictions.

The BGC’s call for no further tax rises may be heeded—or not, depending on the government’s fiscal priorities. What is clear is that the 2025 Budget has already reshaped the landscape, and bet365’s 340 job cuts are far from the last.