Betfred Co-Founder and Chairman Fred Done has issued a stark public warning that UK betting shops could cease to exist on the high street by 2030.
Done made his views known through an op-ed published in The Sunday Times, alongside appearances with the Financial Times over the weekend.
His warning centres on a proposal made in June by the Social Market Foundation think tank to double Machine Games Duty from 20% to 40%.
The UK Treasury is understood to be modelling potential MGD increases ahead of the first Budget under Prime Minister Andy Burnham and Chancellor John Healey, due on 28 October 2026.
Done warned that a Machine Games Duty rise of this nature would directly result in 2,475 job losses and £66.8 million lost in taxes across the sector.
Betfred currently operates around 1,600 shops across the UK, and Done has warned that further tax increases would force the company to close more of those locations.
The firm’s sponsorship of five British Classic flat horse races — the Derby, Oaks, St Leger, 2,000 Guineas and 1,000 Guineas — could also be at risk if economic conditions worsen further.
Horse racing has already seen bookmakers pull back on marketing support this year as operators look to cut costs across the board.
Betfred has also confirmed it will end its sponsorship of Rugby League at the conclusion of 2026, a decision Done described as one that broke his heart.
Data from the Gambling Commission covering April 2025 to March 2026 showed that the number of betting shops currently operating in the UK stood at 5,617, down 3.6% year on year.
The government has continued to claim that betting shops are growing in number across the UK, a position that does not align with the Gambling Commission’s own figures.
Done’s warnings add pressure to policymakers who view machine duty as a revenue-raising alternative to increases in income tax, National Insurance, or VAT.
Per Widerström, Chief Executive Officer of William Hill and 888 owner evoke, previously criticised increases to Remote Gaming Duty and General Betting Duty after they were announced last year.
Remote Gaming Duty rose sharply from 21% to 40% in April 2026, with General Betting Duty set to climb from 15% to 25% the following April.
The combined financial pressure of rising duties across both retail and online channels is reshaping how major operators approach their sponsorship and retail commitments.
