Betfred store closures: 132 shops shut amid tax hikes
Betfred store closures will see the bookmaker shut 132 UK betting shops and cut more than 600 jobs from September, after higher gambling taxes, National Insurance costs and economic uncertainty made the sites unsustainable. A consultation has begun, leaving the firm with about 1,100 shops.
Key Takeaways
- Betfred plans to close 132 shops — more than a tenth of its estate — and cut over 600 roles from September.
- The firm blames gambling tax hikes, higher employer National Insurance, wage inflation and wider economic uncertainty.
- Remote gaming duty rose from 21% to 40%; a 25% online sports betting duty arrives in 2027, excluding horse racing.
- Racing could lose around £4 million a year in levy and media rights from the shuttered shops.
- Rivals including Paddy Power and William Hill have also closed dozens of stores amid the same tax pressure.
Why is Betfred closing so many shops now?
Warrington-based Betfred said it has launched a consultation over the planned closures, which will remove more than a tenth of its betting shops. After the cuts, the chain expects to retain roughly 1,100 sites across the UK.
Chief executive Jo Whittaker said the firm had "tried hard to protect all our sites" but that higher employer National Insurance contributions, wage inflation, gambling tax rises and economic uncertainty left "no choice." She called the affected shops "well-run" and said supporting colleagues is now the priority.
Founder Fred Done, who built the chain with brother Peter from 1967, told Betfred TV that closing shops felt like "killing your own babies." He said the firm once reached 1,650 shops and will fall to about 1,090, meaning around 600 closures over six years.
How do the gambling tax changes affect Betfred?
Measures from last year's autumn budget lifted remote gaming duty from 21% to 40%. A new online sports betting duty of 25% will apply from 2027 to all sports except horse racing. Betfred also flagged National Insurance threshold changes as extra pressure.
Done previously described the tax package as the "biggest threat" to the industry in his decades in bookmaking. The company argues over-taxing and tighter regulation make it harder to compete with operators worldwide.
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What do Betfred store closures mean for racing and rivals?
Racing Post estimates each Betfred shop contributes about £30,000 a year in levy and media rights, putting the annual hit to racing near £4 million. Done said he was "so sorry" about cutting jobs and pledged to handle exits as sympathetically as possible.
The move fits a wider high-street retreat. Paddy Power last October planned to shut 57 shops in the UK and Ireland, risking 250 jobs. William Hill has been closing stores — around 200 in one reported wave — after the same budget tax changes. Entain, owner of Ladbrokes and Coral, recently said it would cut 500 jobs for "operational efficiency."
Whittaker said Betfred will keep serving customers across the remaining estate while supporting staff caught by the consultation.