Bet365 has announced plans to eliminate approximately 340 positions as part of its response to rising regulatory and tax burdens in the UK. This reduction accounts for about 3% of the company’s total workforce and will affect employees based in its offices located in Stoke-on-Trent, Malta, and Gibraltar.
The company expressed that these job cuts are a direct result of a challenging trading environment coupled with increased regulatory and tax-related expenses. A spokesperson for Bet365 remarked on their commitment to mitigate the impact on employees and to assist those affected during this transition.
"We are committed to minimizing the impact on our people and are exploring all avenues to reduce the number of redundancies," the spokesperson stated. They indicated that the initial measure will involve a program for 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," they added.
The challenges posed by tax changes in the UK are significant. Notably, the government's recent increase in the remote gaming duty, which rose from 21% to 40% on April 1, has heavily impacted the gambling industry. Furthermore, a new remote betting duty is expected to be enforced in April 2027, raising the effective tax rate on sports betting products—excluding horse racing—from 15% to 25%.
In light of these tax increases, other companies in the sector have also announced closures. For instance, in March, William Hill revealed plans to permanently close about 200 retail shops in the UK, amounting to nearly 15% of Evoke’s retail estate. Betfred followed suit last month, announcing it would close 132 betting shops, resulting in a job loss for over 600 employees.
Betfred’s CEO, Jo Whittaker, commented, "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.
