Bet365 has announced plans to eliminate approximately 340 positions, which amounts to about 3% of its total workforce, due to escalating costs linked to regulatory changes and taxes. These layoffs will affect employees at the company’s offices located in Stoke-on-Trent, Malta, and Gibraltar.
The company cited a "highly competitive trading environment" along with increased regulatory and tax burdens as key factors leading to this decision. A spokesperson emphasized that Bet365 is making efforts to mitigate the impact on its staff and to assist those who are affected.
“We are committed to minimizing the impact on our people and are exploring all avenues to reduce the number of redundancies,” the spokesperson said. The initial step includes a voluntary redundancy program aimed at lessening the number of job losses.
“We understand the concerns many will have. Impacted staff have been informed and are being fully supported throughout this process,” the spokesperson added.
The Bet365 layoffs come in the wake of significant tax increases imposed by the UK government. Notably, the remote gaming duty nearly doubled from 21% to 40% on April 1 of this year. Furthermore, a new remote betting duty set to take effect in April 2027 will increase the effective tax rate on sports betting products—excluding horse racing—from 15% to 25%.
These tax hikes have prompted other operators in the industry to take drastic measures, such as closing retail locations. For instance, William Hill announced in March that it plans to permanently shut around 200 of its retail shops—about 15% of Evoke’s retail estate. Similarly, Betfred revealed last month intentions to close 132 betting shops in the UK, leading to a reduction of over 600 jobs.
Betfred CEO Jo Whittaker expressed the challenges faced by the company, noting, “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.”
