jili tutorial

Betfred’s Financial Performance in 2025/26: Turnover Nears £1 Billion Amid Retail and Online Shift

By jili tutorial · October 13, 2026

Betfred’s Financial Performance in 2025/26: Turnover Nears £1 Billion Amid Retail and Online Shift

Overview of Betfred’s 2025/26 Financial Year

Betfred’s latest financial filing reveals a turnover of £995.6 million for the 52 weeks ending 29 March 2026, down from £1.5 billion in the comparative 78-week period ending 30 March 2025. This decline, however, is largely attributed to the change in the company’s year-end date from September to March, making the two periods not directly comparable. Despite this, the data provides insight into the company’s evolving business model and financial health.

Retail vs. Online Business Performance

In the 2025/26 financial year, Betfred’s retail operations accounted for 55% of total turnover, while online operations made up the remaining 45%. This marks a notable shift from the previous year, where retail contributed 61% of turnover. The narrowing gap between these segments highlights the company’s increasing reliance on its digital platform, a trend seen across the gambling industry.

Factors Influencing the Shift

The report attributes this shift partly to increased marketing expenses aimed at expanding Betfred’s market share and attracting new customers. The online gambling sector has seen exponential growth in recent years, driven by technological advancements and changing consumer preferences. Betfred’s strategic focus on digital expansion aligns with this broader industry trend.

Key Financial Metrics

Gross Profit and Operating Profit

Betfred reported a gross profit of £719.9 million for the 52-week period, with an operating profit of £74.1 million. The latter figure includes a one-off charge of £4.6 million related to “aborted acquisition costs.” These costs reflect investments in potential acquisitions that ultimately did not materialize, impacting the company’s profitability for the period.

EBITDA

The company’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) stood at £140.6 million, indicating a strong underlying operational performance despite the challenges faced.

Exceptional Charges and Cost Management

Betfred incurred £7.1 million in exceptional charges during the financial year. These included:

Employee Costs and Workforce Changes

Employee costs increased by £19.2 million on a like-for-like basis, driven primarily by the rise in the national minimum wage. Despite this, the number of employees decreased slightly to 7,795, down from 7,872 in the previous year. This reduction reflects operational efficiencies and potential restructuring efforts within the company.

Strategic Moves and Disposals

Disposal of Spanish Online Business

Betfred confirmed the disposal of its Spanish online business in 2024, generating a £1.6 million profit. This move aligns with the company’s strategy to streamline its international operations and focus on core markets.

Impact of Tax Changes

The financial year did not account for the increased Remote Gaming Duty (RGD) in the UK, which came into effect in April 2026. However, Betfred’s tax contributions declined significantly, with the company paying £24.4 million compared to £59.8 million in the previous year. The report also noted £7 million in unrecognised deferred tax assets, which could provide future tax relief.

Industry Challenges and Future Outlook

Betfred founder Fred Done has been vocal about the potential impact of upcoming UK gambling tax increases. These include:

Potential Consequences of Tax Hikes

Done warned that doubling MGD could force Betfred to close 495 of its shops, resulting in the loss of 2,575 jobs and approximately £67 million in foregone tax revenue for the UK government. In August 2026, Betfred announced a consultation to potentially close up to 132 bookies in the UK, aimed at mitigating the financial impact of these tax increases.

Conclusion: Betfred’s Position in a Changing Industry

Betfred’s 2025/26 financial performance underscores the company’s adaptability in a rapidly evolving industry. While retail remains a significant revenue driver, online operations are steadily gaining ground. The company’s strategic focus on digital expansion, coupled with cost management measures, positions it well to navigate impending regulatory and tax challenges. However, the potential closure of retail outlets highlights the delicate balance operators must strike between profitability and compliance in an increasingly regulated environment.