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Betfred Announces 600 Job Cuts and Store Closures Following Gambling Tax Increases

Betfred plans to cut 600 jobs and close over 100 stores due to increased gambling taxes, impacting employees and customers.

Editorial Desk

July 31, 2026 One Min Read

POLICY WIRE — London, UK — Betfred has announced plans to cut 600 jobs and close over 100 stores in response to recent gambling tax hikes. The company cited increased operational costs as the primary reason for the restructuring.

The decision follows the UK government’s implementation of higher taxes on gambling revenue, which has significantly impacted Betfred’s financial outlook. The company stated that these measures are necessary to maintain profitability in the current economic climate.

Affected employees have been informed of the impending changes, and Betfred has pledged to provide support services, including job placement assistance and severance packages. The store closures will be staggered to minimize disruption to customers.

This move comes amid broader challenges facing the UK gambling industry, including regulatory changes and shifting consumer preferences. Analysts predict that other companies in the sector may follow suit with similar cost-cutting measures.

Reporting by Policy-Wire (PW)

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Editorial Desk

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