Bet365 to Cut 3.4% of Workforce As UK Gambling Tax Rises Bite

^{Bet365 is the latest UK gambling operator to announce job cuts as tax rises start to bite. (Image: ChatGPT)}

Bet365 is the latest operator to streamline its workforce in the wake of UK Remote Gaming Duty (RGD) increasing to 40%. 

Five of the UK’s largest online gambling firms have announced job cuts in recent months. With taxation cited as one of the main drivers of change, a spokesperson for bet365 has confirmed that approximately 300 jobs at the company’s HQ in Stoke and 40 jobs in Europe are set to go in the coming months. 

Taxation takes its toll on bet365

After news of the layoffs broke this week, a spokesperson cited a “highly competitive trading environment” and increased “regulatory and tax-related costs” as reasons for the restructuring. 

Along with up to 300 jobs in the UK, bet365 will be letting go of around 40 members of staff at its Malta and Gibraltar offices. That equates to over 3% of bet365’s 10,000-strong workforce across the UK and Europe. 

The spokesperson added that efforts are being made to minimise the impact on workers. In addition to offering support for those affected by the restructuring, bet365 is offering voluntary redundancy packages. 

UK online casino operators have felt the force of regulatory changes this year. Although the increase in Remote Gaming Duty (RGD) from 21% to 40% was known in advance, the impact is only now being felt. 

Other big brands feel the impact

William Hill owner Evoke announced the closure of up to 200 high street betting shops in March, putting around 1,500 jobs at risk. Ahead of announcing a 2% fall in underlying EBITDA to £479 million in August, a July report by Bloomberg claimed Entain was set to cut up to 500 jobs. 

Although the owner of multiple brands, including Ladbrokes, initially said that it wouldn’t cut jobs, a spokesperson later confirmed to SBC that redundancies were likely. Betfred followed suit in July, stating that 132 betting shops will close by the end of the year, affecting up to 600 employees. 

Flutter, the other major operator in the UK, announced in early September that 100 of its Paddy Power betting shops are under review. Although it’s yet to commit to closures, a sweep of its network could lead to 400 job losses. 

Tax hikes from all angles

RGD isn’t the only tax forcing UK gambling operators to restructure. General Betting Duty, a tax on bookmaking and pool betting profits, will increase from 15% to 25% in April 2027. 

In recent days, rumours have surfaced that Chancellor John Healey could announce changes to Machine Games Duty (MGD) in his October budget. For his part, Healey hasn’t committed to raising taxes in any area. 

However, prominent Labour members, including former Prime Minister Gordon Brown, have signalled their support for higher rates on revenue earned from slot machines and adult gaming centres. 

UK gambling economy in a state of change

It’s a testing time for the UK gambling industry, but analysts at the Institute for Public Policy Research (IPPR) believe that “employment effects” due to tax rises will be limited. 

Reacting to the Betting and Gaming Council’s claim that up to 40,000 jobs are at risk, the IPPR published a report describing the estimate as “overstated”. 

While the number of job losses is yet to reach 40,000, the impact of recent regulatory changes can’t be ignored. Alongside restructuring efforts, Entain confirmed its exit from the FTSE 100. 

The company’s share price has fallen from 771.40p at the start of 2026 to 504p on September 10. That’s a drop of 34%, something that reflects not only tougher market conditions but the general sentiment of investors in UK-based gambling operators.