In a statement issued to NEXT.io, Betfred confirmed it will shut 132 of it shops, representing 10% of its entire UK retail network. A consultation period with staff impacted by the move has already begun – with Sky News reporting that hundreds of people will be out of work.
Confirmation of the closures comes after Betfred co-founder and chair Fred Done warned in October last year that the company could shut all its UK shops as a result of the increase in gambling tax. Betfred’s retail network comprises more than 1,200 and employs around 7,500 people.
Since Done’s comments, higher rates have been finalised. From 1 April 2026, remote gaming duty increased from 21% to 40%. In addition, from next year, a new rate of general betting duty will be introduced at 25%, excluding self-service betting terminals, spread betting, pool betting and horse racing.
Betfred CEO talks of ‘regret’ over shops closures
Betfred CEO Joanne Whittaker said the decision to close the shops was taken with “deep regret”. She said the move was not limited to the rise in gambling tax alone, also making reference to several other factors including increased employer National Insurance contributions.
“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,” Whittaker said.
“These are well-run shops, staffed by dedicated colleagues, and it is incredibly hard to see any of them close, but the current fiscal and regulatory environment has made it impossible to keep trading all our shops. Our priority now is to support the colleagues affected, and to continue serving customers and communities across the rest of our estate.”
Major players reducing UK retail presence
Betfred is not the first leading operator to announce that it will be reducing its presence in the UK retail market amid the rise in taxes.
In January, Evoke revealed in a trading update it had already closed shops. This came after its CEO, Per Widerström, joined other major names in the industry in hitting out at the rise in taxes, warning of the negative impact this could have on the UK market.
Before the hikes were even confirmed, Entain CEO Stella David said such a move could force the company to shut shops. David told The Times that tax increases would compel the company “to consider its investment level in the UK” and could lead to “shop closures” across its estate of roughly 2,300 high street betting outlets.
Dingnews.com 03/08/2026