Betfred Online Turnover Hits £451.7m Nearing Half of Group Total as Retail Estate Shrinks Ahead of Further UK Tax Rises
Betfred posted £995.6m turnover for the 52 weeks to 29 March 2026, with online at £451.7m nearly half the total and retail at £544m. Profit after tax was £39.6m as shops decline and costs rise. Results precede further duty increases on both channels.
SCCG Take — The channel split shows digital migration offsetting retail contraction under higher duties. Operators face continued margin pressure and must calibrate capital allocation between online technology and legacy estate costs.
Betfred reported turnover of £995.6m for the 52 weeks to 29 March 2026. Online operations generated £451.7m, approaching half the group total. Retail delivered £544m from 1,293 shops.
Gross profit stood at £720m and profit after tax at £39.6m. The prior 78-week period produced £1.07bn turnover and £128.8m post-tax profit. Differing durations limit direct comparisons.
Online Growth Against Retail Contraction
Online turnover has risen from £197m in FY 22/23. The group recorded £110.4m in capitalised development costs and spent £22.1m on R&D to strengthen software, data analytics and mobile capabilities.
Retail shops declined from 1,351 the previous year. A further 132 closures are planned for later this year, with up to 600 jobs at stake. Flutter Entertainment, Entain and evoke have announced similar retail reductions after the Remote Gaming Duty increase from 21 percent to 40 percent in April.
Cost Pressures and Duty Warnings
Employee costs rose £19.2m on a like-for-like basis despite headcount falling from 9,622 to 9,463, attributed to National Minimum Wage and National Insurance rises. Chairman Fred Done, who stepped down as CEO in 2021, warned that a rumoured doubling of Machine Games Duty would kill the UK retail betting industry by 2030. Betfred has ended its headline Super League sponsorship, with horse racing sponsorships also at risk if duties rise.
The 2025 Autumn Budget proposed lifting General Betting Duty from 15 percent to 25 percent effective 1 April 2027. These results, as first reported by SBC News, show the operator adapting its model under sustained fiscal strain on the retail channel.
Reporting: SBC News
Generated by SCCG’s automated editorial system from published source reporting. SCCG Management holds editorial responsibility.
Gaming, betting and prediction markets — the desk’s read, every weekday.
Subscribe →