Betfred is set to close more than 132 betting shops across the UK, putting up to 600 jobs at risk later this year.
The closures represent approximately 10% of the company’s retail estate, which currently spans over 1,200 shops nationwide.
Chief Executive Officer Joanne Whittaker has directly attributed the decision to a combination of difficult fiscal and regulatory pressures currently facing the industry.
Whittaker said the decision to close the shops was taken with “deep regret,” acknowledging the significant human cost tied to the announcement.
Remote Gaming Duty rose sharply from 21% to 40% from 1 April 2026, applying to online gambling gross gaming revenues and hitting operators with significant online casino arms particularly hard.
A new online sports betting duty of 25% was also introduced in last year’s autumn budget, covering all sports excluding horse racing, and is set to take effect from 2027.
Whittaker also cited rising national insurance contributions and minimum wage increases as additional factors directly referenced in the shop closure announcement.
Betfred co-founder and chair Fred Done had warned as far back as October last year that the company could close all of its UK shops if gambling tax increases went ahead.
Betfred is not the first major operator to scale back its retail footprint, as Evoke had already confirmed shop closures following a trading update in January this year.
Evoke CEO Per Widerström previously joined other senior industry figures in warning that tax hikes would damage the UK market and undermine the viability of retail betting.
Entain CEO Stella David had also cautioned before the increases were confirmed that such a move could force the company to shut shops across the country.
Successive Gambling Commission gross gaming yield reports have highlighted the ongoing struggles facing UK retail betting, suggesting the sector has been under strain for several years.
The closures paint a troubling picture for the broader UK gambling industry in 2026, reflecting widespread concern about the long-term sustainability of high-street betting.
