Bet365 to Cut 340 Jobs as UK Gambling Tax Rises Bite

^{Bet365 has announced plans to cut around 340 jobs, mostly at its Stoke-on-Trent headquarters, as UK gambling tax rises squeeze the sector. (Photo: John M / Wikimedia Commons)}

Bet365 has announced plans to cut around 340 jobs, citing higher tax and regulatory costs alongside a highly competitive trading environment, according to a report by IBTimes UK published 9 September 2026.

Around 300 of the affected roles are expected to fall at bet365's headquarters in Stoke-on-Trent, where the company employs about 5,500 people. A further 40 roles are affected across its offices in Malta and Gibraltar. The planned reductions represent roughly 3% of bet365's workforce.

Voluntary Departures to Come First

The 340 figure does not necessarily mean 340 compulsory redundancies. Bet365 is exploring ways to reduce the number of forced departures and will begin with a programme of voluntary exits, according to the report. Affected employees have already been informed and are being supported through the process.

A bet365 spokesperson said the company was facing a 'highly competitive trading environment' as well as increased regulatory and tax-related costs, adding that those pressures had prompted a restructuring of some locations.

Remote Gaming Duty Rose to 40% in April

The cuts follow a sharp rise in UK gambling taxation. Remote Gaming Duty, which applies to online casino games, increased from 21% to 40% in April 2026. A separate rise in duty on most online sports betting, from 15% to 25%, is due in April 2027, with horseracing taxed separately.

The announcement has drawn renewed attention to bet365 founder Denise Coates, Britain's richest woman, whose Companies House accounts for the year to March 2025 showed a £104 million salary. Bet365 also declared £353.6 million in dividends, of which Coates was entitled to a majority share. Over the same period, turnover rose to around £4 billion, while pre-tax profit fell from £627 million to £349 million.

Fifth Major Operator to Cut Jobs Since Tax Rise

Bet365 is now the latest of the UK's five largest gambling operators to announce workforce reductions since the tax increase. Entain, which owns Ladbrokes and Coral, has announced hundreds of redundancies, Betfred has confirmed shop closures, and Flutter Entertainment has warned that hundreds of roles could be affected by a review of its shops.

Betting and Gaming Council chief executive Grainne Hurst called the bet365 cuts further evidence of the 'real-world consequences' of the tax increases, according to a report by IBTimes UK. The Institute for Public Policy Research has previously argued that employment effects from the tax rises should be limited, describing the Council's earlier estimate of up to 40,000 potential job losses as overstated.

Bet365 said its priority remains minimising compulsory redundancies through voluntary departures and other measures, meaning the final number of roles lost may be lower than the 340 figure announced. The company has not given a timeline for when the restructuring process will be complete, or said how many voluntary departures it expects to secure before considering compulsory cuts.