Bet365 will cut 340 jobs, around 3% of its workforce, across offices in Stoke-on-Trent, Malta and Gibraltar. The operator cited rising tax burden and regulatory costs amid tight competition.
A Bet365 spokesperson said the company plans a voluntary redundancy programme and will support affected staff. 'Our colleagues are a priority. We understand their concern. Everyone impacted has been informed and is receiving full support,' the company said.
Tax pressure in the UK
Bet365 pointed directly to the doubling of remote gaming duty from 21% to 40% from 1 April this year. From April 2027 a new remote betting duty will push the effective rate on sports betting (excluding racing) from 15% to 25%.
Bet365 is not alone in responding to fiscal pressure. In March William Hill announced the closure of around 200 retail shops, 15% of Evoke's estate. A month later Betfred announced the closure of 132 betting shops and more than 600 redundancies. Betfred chief executive Jo Whittaker commented: 'We tried to keep all locations and colleagues, but the combined effect of rising employer contributions, wage inflation, higher gambling taxes and economic uncertainty left no choice.'
For operators working in the UK, tax burden is now a critical factor in business planning. Cuts hit both online and retail.
