Betfred reported turnover of £995.6m for the 52 weeks ending 29 March 2026. Retail's share of revenue fell to 55% from 61% the year before, while online grew to 45%. The company shifted its reporting period from September to March, making direct comparison with the prior 78-week cycle (turnover £1.5bn) invalid.
Gross profit came to £719.9m, operating profit to £74.1m. The latter includes one-off write-downs of £4.6m related to a failed transaction. EBITDA reached £140.6m. Exceptional costs totalled £7.1m: besides the aborted acquisition, this included £801,000 for winding down a foreign subsidiary tied to the 2023–24 exit from the US. Betfred sold its Spanish online business in 2024 at a £1.6m gain.
The wage bill rose by £19.2m due to minimum-wage increases, though headcount fell from 7,872 to 7,795. Tax dropped from £59.8m to £24.4m — the report does not capture April's Remote Gaming Duty increase.
Closure threat
Founder Fred Done told the Financial Times that if government doubles Machine Gaming Duty, Betfred will close 495 shops within a year, cut 2,575 jobs, and cost the Treasury £67m in lost tax. In August the bookmaker announced consultations on closing up to 132 locations due to rising tax burdens.
