Bet365 has announced a reduction in its workforce, eliminating 340 jobs, which accounts for nearly 3% of its total employees. The bulk of these layoffs will occur in Stoke-on-Trent, where approximately 300 positions will be cut. The remaining 40 job losses are spread across Malta and Gibraltar, where bet365 conducts much of its compliance and trading activities outside the UK.
In a statement, a bet365 representative assured that the company is focused on lessening the impact on staff and is investigating all possible options to limit redundancies. The spokesperson emphasized the commitment to supporting affected employees during this transition: "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 online gaming sector has faced challenges due to increased remote gaming taxes which will come into effect from April 1, 2026. As detailed in the November 2025 Autumn Budget, the remote gaming tax rate will rise from 21% to 40%. Further tax increases are slated to commence in April 2027 when the tax rate for gambling will shift from 15% to 25%, with horse racing exempt from this change.
For bet365, these financial pressures may pose significant challenges compared to its competitors, largely because the company has no land-based casinos or retail outlets to help offset costs. As a result, the increased tax burden will directly affect the performance of its digital operations, with each pound in taxes impacting the company's bottom line.
