Betfred Turnover Hits £995.6m as Retail Shops Generate Majority of Revenue Ahead of Further Closures
Betfred posted £995.6m turnover, £720m gross profit and £39.6m profit after tax for the 52 weeks to March 29, 2026. Retail delivered £544m from 1,293 shops while online reached £451.7m. The operator faces 132 shop closures by year-end amid warnings that doubled Machine Games Duty could end its retail business by 2030.
SCCG Take — Retail dominance persists but tax-driven closures signal accelerating pressure on traditional operations. Sustained technology investment will determine whether online growth can offset the structural contraction in physical betting shops.
Betfred reported turnover of £995.6m for the 52 weeks ending March 29, 2026. The filing at Companies House shows gross profit of £720m and profit after tax of £39.6m. Both figures are lower than the prior 78-week period that produced £1.07bn gross profit and £128.8m profit after tax.
Retail betting shops remained the largest contributor. The estate generated £544m in turnover from 1,293 locations, down from 1,351 the year before. The operator will close 132 shops by the end of 2026, placing up to 600 jobs at risk.
Retail Performance and Tax Warnings
Founder Fred Done, who remains chairman, stated that a proposal to double Machine Games Duty could wipe out Betfred’s retail betting operations by 2030. The company has ended its headline sponsorship of rugby league’s Super League. It will also withdraw sponsorship of all five British Classics if the duty increase proceeds.
These outcomes follow Done’s earlier public claims that tax changes are the primary driver of the planned closures. The results arrive as Betfred nears its 60th anniversary next year.
Online Expansion and Cost Pressures
Online gambling turnover reached £451.7m, compared with £197m in the 2022-23 financial year. Capitalised development costs rose to £110.4m, with a further £22.1m spent on research and development focused on software platforms, data analytics and mobile products.
Employee expenses increased by £19.2m on a like-for-like basis even as total headcount fell from 9,622 to 9,463. The operator attributed the rise to higher National Minimum Wage and employers’ National Insurance contributions.
The reported figures, as first reported by Focus Gaming News, show retail still accounts for the majority of turnover. Any further rise in Machine Games Duty would accelerate the shift online but at the cost of immediate job losses and reduced physical presence. Operators facing comparable tax trajectories will track the net impact on combined channel margins over the next two reporting periods.
Reporting: Focus Gaming News
Generated by SCCG’s automated editorial system from published source reporting. SCCG Management holds editorial responsibility.
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