Betfred to close 132 shops and cut more than 600 jobs
Betfred will close 132 betting shops in the UK and cut more than 600 jobs, with the first closures starting in September. Consultations with staff at the affected sites are already under way. The programme removes more than a tenth of the operator's retail estate, leaving it with around 1,100 shops across the country.
The company puts the decision on tax. The Autumn Budget raised remote gaming duty from 21% to 40% and introduced a 25% levy on online sports betting, excluding horseracing, due to take effect in 2027. Betfred also points to higher employer National Insurance contributions and changes to the related thresholds.
Chief executive Jo Whittaker said the company had tried to keep every shop and every job, but the combined effect of higher contributions, wage inflation, rising gambling taxes and wider economic uncertainty left no alternative. 'These shops perform well, they have dedicated people working in them, and seeing any of them close is very hard,' she said. Supporting affected staff and keeping service running across the rest of the network is the priority.
Founder Fred Done called the tax changes the 'biggest threat' the industry has faced in 57 years of doing business. Betfred is based in Warrington and was founded in 1967 by brothers Fred and Peter Done, whose combined fortune is put at £3.61bn ($4.87bn).
Wider cuts across UK retail
Paddy Power said in October it would close 57 shops in the UK and Ireland, putting 250 jobs at risk. In January William Hill and 888, both owned by Evoke, said they had moved 'quickly and decisively' to shrink their networks and costs. Between them, the confirmed Betfred and Paddy Power closures amount to at least 189 shops and more than 850 jobs at risk over the year.
The near-doubling of remote gaming duty weighs on online economics, not just retail, so affiliate managers should revisit their UK traffic forecasts for local operators.
