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Bet365 Job Cuts: A Comprehensive Guide to the UK Tax Storm Reshaping the Gambling Industry

By jili tutorial · September 11, 2026

Bet365 Job Cuts: A Comprehensive Guide to the UK Tax Storm Reshaping the Gambling Industry

Overview: What’s Happening at Bet365?

Global betting powerhouse Bet365 has confirmed plans to eliminate approximately 340 positions across its operations. This reduction represents roughly 3% of the company’s total workforce and will affect offices in Stoke-on-Trent (UK), Malta, and Gibraltar. The decision is a direct response to what the company describes as a “highly competitive trading environment, plus increased regulatory and tax-related costs.”

In a statement, a Bet365 spokesperson emphasised the company’s commitment to minimising the impact on employees: “We are committed to minimising the impact on our people and are exploring all avenues to reduce the number of redundancies. As a first step, we are planning a programme of voluntary redundancies. Our colleagues are our priority. We understand the concerns many will have. Impacted staff have been informed and are being fully supported throughout this process.”

The UK Tax Landscape: Remote Gaming Duty and Beyond

The Near‑Doubling of Remote Gaming Duty

The most immediate driver behind Bet365’s cost‑cutting measures is the UK government’s sharp increase in remote gaming duty. Effective 1 April 2025, the tax rate on remote gambling (including online casino games) jumped from 21% to 40%. This near‑doubling of the levy adds tens of millions of pounds in annual costs for operators like Bet365, which generate the majority of their revenue from online gaming.

A New Remote Betting Duty on the Horizon

Further headwinds are approaching. From April 2027, a new remote betting duty will come into force. This will raise the effective tax rate on all sports‑betting products (excluding horse racing) from 15% to 25%. While the exact final legislation is still being drafted, the combined effect of both taxes will significantly squeeze margins for the entire sector.

Why the Government Is Raising Gambling Taxes

These tax hikes are part of a broader UK fiscal strategy. The government is seeking to close budget gaps by increasing taxes on “sin industries” such as gambling, tobacco, and alcohol. The measure also aligns with ongoing regulatory reviews under the Gambling Act Review White Paper, which calls for tighter controls and higher levies to fund addiction treatment and research.

Industry‑Wide Ripple Effects: How Other Operators Are Responding

Bet365 is far from alone in feeling the pressure. Several major bookmakers have already announced significant shop closures and job cuts in response to the same tax environment.

William Hill Closes Around 200 Retail Shops

In March 2025, William Hill informed staff that it would permanently close approximately 200 of its UK retail betting shops. This represents about 15% of the total retail estate owned by Evoke (formerly William Hill’s parent company). The closures are expected to result in hundreds of redundancies, though the exact number has not been disclosed.

Betfred Shuts Down 132 Shops, Laying Off Over 600 Employees

The most drastic move to date came from Betfred. In the same month, the operator announced plans to close 132 UK betting shops, reducing its workforce by more than 600 employees. Betfred CEO Jo Whittaker explained the decision in stark terms:

“We have tried hard to protect all our sites and the colleagues who work in them, but the combined impact of higher employer National Insurance contributions, wage inflation, increases in gambling taxes and wider economic uncertainty has left us with no choice.”

This quote highlights the multi‑factor cost squeeze that operators face: not only gambling‑specific taxes, but also rising payroll costs (employer National Insurance rose in the 2024 Autumn Budget) and general inflationary pressures.

How Bet365 Is Managing the Transition

Prioritising Voluntary Redundancies

Bet365’s approach to workforce reduction focuses first on voluntary redundancy. By offering staff the option to leave with a severance package, the company hopes to minimise the number of compulsory layoffs. This strategy also helps preserve morale among remaining employees, as it signals that management is willing to work with affected staff.

Supporting Impacted Staff

The company states that all employees whose roles are at risk have been informed and are being given full support. This includes access to career counselling, outplacement services, and financial advice. Bet365 has not disclosed the exact severance terms, but sources suggest the package aligns with industry standards in the UK and Malta.

What This Means for the Future of the Gambling Sector

Consolidation and Cost‑Cutting Are Likely to Continue

The tax changes are structural—they are not temporary. As a result, further job cuts, shop closures, and even mergers among mid‑sized operators are widely expected. Smaller brands may struggle to absorb the 19‑percentage‑point increase in remote gaming duty, especially if they lack Bet365’s global revenue diversification.

Potential Shift Toward Regulated Markets Outside the UK

Some operators have already begun redirecting investment away from the UK toward lower‑tax jurisdictions such as the US (where individual states set their own rates) and Latin America. Bet365 itself has been expanding aggressively in markets like Brazil and the US, and this UK‑driven restructuring may accelerate that pivot.

Consumer Impact: Fewer Choices, Possible Price Changes

For UK punters, fewer retail shops and a more concentrated online market could mean reduced competition and, over time, less generous promotions or odds. The rise in betting duty (from 15% to 25% for sports) will almost certainly be passed on to customers in some form, either through lower payouts or reduced bonuses.

Key Takeaways