Rising UK Taxes and Regulatory Costs Drive bet365 to Cut 340 European Jobs

bet365 is reducing its workforce by around 340 positions as part of a restructuring tied to higher taxation, added regulatory costs and a competitive trading environment. The operator will remove approximately 300 roles in the UK, with 40 affected in Malta and Gibraltar. Most UK cuts will hit its Stoke-on-Trent headquarters, where bet365 employs 5,500 of its global 10,000 staff.

A bet365 spokesperson said: “As an international business, we continually review and assess our operations to ensure the business’s long-term future. We’re currently facing a highly competitive trading environment, plus increased regulatory and tax-related costs. As a result we’re restructuring some of our locations this year. Ultimately, this will result in a reduction of approximately 340 roles across our European hubs, which is the equivalent of around 3% of the workforce. We’re committed to minimizing the impact on our people and are exploring all avenues to reduce the number of redundancies. As a first step, we’re planning a program of voluntary redundancies. Our colleagues are our priority. We understand the concerns many will have. Impacted staff have been informed and are being fully supported throughout this process.” The company is prioritising voluntary redundancies and staff support to limit compulsory cuts.

Tax Policy Changes Fueling Industry Restructuring

The reductions follow several tax increases affecting gambling businesses operating in the UK. Remote Gaming Duty increased to 40% after last year’s budget, while Remote Betting Duty is scheduled to rise from 15% to 25% from April next year. Horseracing received an exemption from the betting duty rise. A potential Machine Games Duty increase to 40% could trigger more than 2,900 betting shop closures and cut the sector’s contribution to British racing by around £70 million through lower levy and media rights payments.

William Hill plans to close 270 shops, Betfred 132 locations affecting around 600 jobs, and Paddy Power another 100 shops after 57 prior closures that put 400 jobs at risk. The Betting and Gaming Council estimates more than 600 shops could close with 5,000 jobs lost by the end of 2026. According to reporting by World Casino News, these moves reflect the direct pressure from last year’s budget measures.

Policy Reassessment Urged by Industry and Local Leaders

Gareth Snell, Labour MP for Stoke-on-Trent Central, said the redundancies should raise concerns among regulators and government officials. “These are well-paid jobs in an area of the country that needs investment. bet365 is an internationally successful company built from the ground up in Stoke-on-Trent.” Betting and Gaming Council chief executive Grainne Hurst described the cuts as further evidence of the impact caused by recent tax increases. “The government must now rule out any further tax rises on the sector. Ministers should instead pursue an evidence-led approach which protects jobs, investment, and the regulated market, rather than handing an advantage to the unsafe, unregulated illegal gambling market.”

The sequence of operator restructurings makes clear that the new duty levels are already reshaping licensed employment and retail footprints. How far these adjustments extend in 2027 will show whether the regulated channel can absorb the added fiscal load without further contraction.

Reporting: World Casino News

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