Jennings Bet owner and CEO Greg Knight has pushed back against the prevailing negativity surrounding UK retail betting as his company hits a significant milestone.
The independent bookmaker surpassed 200 shops following the acquisition of 15 locations from Star Sports in May, and has since opened a further eight venues to bring its total estate to 212 shops.
The expansion bucks a wider industry trend, with Gambling Commission statistics pointing to a gradual decline in customer participation across retail betting in recent years.
Major operators including Entain and evoke-owned William Hill have been closing venues, contributing to the perception that the high street betting shop is a dying format.
Knight, however, argues that the reduction in shop numbers represents a process of “right-sizing” rather than an industry in terminal decline, suggesting larger operators had been carrying too many underperforming legacy locations.
Jennings Bet has doubled its retail estate since 2021, largely through acquisitions, including the purchase of two established UK chains, Mark Jarvis bookmakers and Megabet, formerly known as Stan James, adding close to 100 shops to its portfolio.
Unlike most competitors, Jennings Bet has exited online betting entirely to focus exclusively on retail operations, a move Knight acknowledges went against the grain. “We found online a struggle,” Knight said. “We decided to concentrate our investment on retail, even though that was the opposite direction to everyone else.”
Knight pointed to the continued strength of retail divisions at major listed operators like Entain and Flutter Entertainment, arguing that betting shops still serve a loyal customer base unlikely to migrate online. “If you’ve got a good unit, as we’ve found, there is still a very, very good business,” he explained.
The CEO outlined a clear and repeatable strategy driving the company’s continued growth, showing confidence in its long-term direction. “We’ve got a good recipe,” he said. “Modern shops, investment, staff training and customer engagement. We’re just going to keep using it and see where it gets us.”
Knight was unequivocal about what the 200-shop milestone means for the company’s standing in the sector. “With over 200 shops, we’ve proven that we’re more than sustainable. I don’t think retail betting is a diminishing business and we’ve proven that for long enough.”
As a family-owned retail-only business, Jennings Bet is unaffected by the tax increases introduced for online betting companies in April 2026, giving it a competitive advantage as it looks to capitalise on available market share.
Knight highlighted self-service betting terminals as a key tool for drawing in younger customers by replicating an online-style experience within a physical retail environment.
While horse racing remains a core product for Jennings Bet, Knight warned that escalating media rights costs are placing serious strain on bookmakers’ ability to support the sport sustainably.
He described racing as moving towards becoming a “loss leader” for bookmakers, who are paying significantly more to deliver racing content even as the sport pushes for greater financial contributions through the levy.
“If racing isn’t getting enough levy and bookmakers are saying they’re paying too much, somebody is getting it,” Knight said. “That’s the media rights companies.”
