Bet365 confirms plans to cut 340 jobs in response to UK tax headwinds

Global gambling operator Bet365 has confirmed plans to cut approximately 340 jobs in response to mounting regulatory and tax-related costs in the UK market. The redundancies, representing around 3% of the company’s total workforce, will affect employees across offices in Stoke-on-Trent, Malta and Gibraltar.

The operator attributed the decision to a “highly competitive trading environment, plus increased regulatory and tax-related costs,” with particular emphasis on the UK government’s near doubling of remote gaming duty from 21% to 40% that took effect on 1 April this year.

A Bet365 spokesperson said the company is prioritizing voluntary redundancies and working to minimize the overall impact. “We are committed to minimising the impact on our people and are exploring all avenues to reduce the number of redundancies,” the spokesperson said. “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.”

Escalating UK Tax Burden

The job cuts come as the UK gambling sector faces unprecedented tax increases that are reshaping operator economics. Beyond the remote gaming duty hike already in force, a new remote betting duty is scheduled to take effect from April 2027, raising the effective tax rate on all sports betting products except horse racing from 15% to 25%.

The combined impact of these tax increases represents a significant margin compression for operators with substantial UK exposure, forcing companies to reassess their cost structures and operational footprints.

Industry-Wide Restructuring

Bet365’s announcement follows similar moves by other major UK operators responding to the same fiscal pressures. In March, William Hill informed staff of plans to permanently close approximately 200 retail shops in the UK, representing around 15% of Evoke’s retail estate.

Last month, Betfred announced the closure of 132 UK betting shops, resulting in more than 600 job losses. Betfred CEO Jo Whittaker cited “the combined impact of higher employer National Insurance contributions, wage inflation, increases in gambling taxes and wider economic uncertainty” as leaving the company with no choice.

Implications for B2B Suppliers

The wave of cost-cutting measures across tier-one UK operators signals potential downstream effects for B2B suppliers and platform providers. As operators reduce headcount and rationalize operations, procurement decisions may face increased scrutiny, with pressure on service providers to demonstrate clear ROI and operational efficiency gains.

The restructuring also highlights the growing importance of operational flexibility and cost-effective technology solutions as operators navigate regulatory environments with rapidly shifting economics. Suppliers offering tools that help operators optimize margins, automate processes or reduce operational overhead may find themselves better positioned as the sector adjusts to the new tax reality.

The UK market’s tax trajectory continues to serve as a cautionary example for other jurisdictions considering similar duty increases, with the real-world impact now clearly visible in employment figures across the sector’s largest operators.