Betfred to close over 130 shops as tax rise takes toll

UK high-street betting giant Betfred is planning to close around one-in-10 of its betting shops as leadership cites difficult fiscal and regulatory conditions.

The closures have been directly attributed to the increases in gambling taxes, among other economic conditions, by Jo Whittaker, Betfred’s Chief Executive Officer.

As reported by Sky News, Betfred will close over 132 shops starting later this year, with up to 600 jobs at stake. The 133 shops represent about 10% of the company’s retail estate of over 1,200 shops across the UK.

“It is with deep regret that we have today started a consultation with colleagues working in more than 130 of our shops regarding a proposal to close those locations,” Whittaker remarked.

“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.

“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.”

Tough times for UK high street brands

In an interview with SBC News last year, shortly before then Chancellor of the Exchequer Rachel Reeves’ November budget announcement by Rachel Reeves, Whittaker warned about the impact the UK’s economic environment was having on the retail industry.

Aside from the then-unannounced gaming tax rises, Whittaker also cited national insurance contributions and minimum wage increases – which as seen above have been directly referenced today with the announcement of shop closures.

From 1 April 2026, Remote Gaming Duty (RGD) went up from 21% to 40%. 

This is only paid on online gambling gross gaming revenues (GGR), but for firms like Betfred which also operate on an online casino, the knock on effect could have made closing the most inefficient shops a rational cost savings exercise.

However, it also has to be said that UK retail has been struggling for some time, as Gambling Commission gross gaming yield stats have shown in successive reports.

Betfred announcement not a shocker

Given the challenging circumstances, Betfred’s shop closures may come as no surprise to those who have been keeping a close enough eye on the UK gambling industry over the years since the COVID-19 pandemic. 

This year has already played host to job cuts and shop shutdowns at many major UK-focused bookmakers, including Flutter Entertainment’s Paddy Power and evoke’s William Hill, while Entain has opted to close Ladbrokes branches in the Republic of Ireland and Northern Ireland.

All of the abovementioned companies stated that the impact of the Budget had played some part in this. 

Today’s announcement does no favours for the state of UK high street gambling, which has been embroiled with many headwinds in recent times.

The sector is now also facing the prospect of an increase in business rates, though it is unclear whether new Prime Minister Andy Burnham is going to target only adult gaming centres (AGCs) or include betting shops in the same bracket.

With high street betting engagement on the decline, the future looks relatively bleak in some aspects, despite the fact that retail escaped the clutches of the tax man last November. 

Betfred’s shop closures do not come as a major surprise, but it does represent the negative outlook on not just the retail betting sector, but the industry as a whole on these shores in 2026.

Article coauthored with Patrick Killeen