Bet365 has confirmed the loss of 340 jobs spread across its operations in Stoke-on-Trent, Malta, and Gibraltar.
The cuts represent approximately 3% of the company’s total global workforce, according to a spokesperson for the operator.
The spokesperson explained the reasoning behind the decision, stating: “As an international business, we continually review and assess our operations to ensure the business’ long-term future.”
They also pointed to external pressures driving the move, adding: “We are currently facing a highly competitive trading environment, plus increased regulatory and tax-related costs.”
The majority of the redundancies, around 300 roles, will be concentrated at Bet365’s headquarters in Stoke-on-Trent, which currently employs approximately 5,500 people.
The remaining positions lost will come from the operator’s two European hubs in Malta and Gibraltar, which serve as key international bases for the business.
Bet365 operates exclusively through digital channels, meaning it is particularly exposed to changes in remote gambling taxation across its key markets.
A significant upcoming tax change is set to hit the operator hard, with remote betting duty rising from 15% to 25% in April 2027, excluding bets placed on UK horse racing.
Bet365 is not alone among major British operators in making significant workforce reductions, as Flutter Entertainment recently confirmed that up to 100 Paddy Power betting shops may close, putting around 400 jobs at risk.
The spokesperson confirmed that voluntary redundancies will form the first stage of the reduction programme, with the company seeking to limit compulsory job losses wherever possible.
Bet365 stated: “We are committed to minimising the impact on our people and are exploring all avenues to reduce the number of redundancies.”
The company also moved to reassure affected workers, with the spokesperson adding: “Our colleagues are our priority. We understand the concerns many will have.”
Staff impacted by the cuts have already been informed and are being supported by the company throughout the process.
