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bet365 has announced that 340 jobs will be cut across its operations, with most of the losses expected at its Stoke‑on‑Trent headquarters.
Around 300 roles are set to go from the UK base, while the remaining 40 will be affected in Gibraltar and Malta. The company, which employs 10,000 people worldwide and 5,500 in Stoke alone, said the decision was driven by mounting pressures from higher taxes, tighter regulation and a competitive trading environment.
The cuts follow last year’s budget, which nearly doubled the rate of remote gaming duty to 40%. A further increase is already scheduled, with remote betting duty rising from 15 per cent to 25 per cent in April next year, though horseracing has been granted an exemption.
Industry modelling has also warned that if machine games duty is raised to 40 per cent in the upcoming budget, more than 2,900 betting shops could close, stripping British racing of about £70 million in levy and media rights.
“As an international business, we continually review and assess our operations to ensure the business’ long-term future. We’re currently facing a highly competitive trading environment, plus increased regulatory and tax-related costs,” a bet365 spokesperson said to RacingPost.
“As a result we’re restructuring some of our locations this year. Ultimately, this will result in a reduction of approximately 340 roles across our European hubs, which is the equivalent of around three per cent of the workforce.”
Betting shops shutdown continue across the UK
The wave of closures across Britain’s betting shops has not slowed since last year’s budget. William Hill announced it would shut 270 outlets, though it did not confirm how many jobs would be lost.
Betfred followed at the end of July, saying 132 shops would close, a move expected to affect around 600 staff. Paddy Power, which had already cut 57 shops last October, revealed last week that another 100 will disappear before year‑end, putting 400 jobs at risk.
The Betting and Gaming Council warned last week that by the close of 2026 more than 600 shops will have shut their doors, with 5,000 jobs gone since the tax hikes were introduced. Gareth Snell, Labour MP for Stoke‑on‑Trent Central, said the cuts at bet365 “should serve as a warning to the regulators and the Treasury,” stressing that these were well‑paid roles in a city that needs investment.
“We’re committed to minimising the impact on our people and are exploring all avenues to reduce the number of redundancies. As a first step, we’re planning a programme of voluntary redundancies. 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,” bet365 added.
