TLDR
- bet365 will cut 340 jobs across Stoke-on-Trent, Malta and Gibraltar, about 3% of its workforce.
- Around 300 of the cuts will hit the Stoke-on-Trent headquarters, with 40 more in Gibraltar and Malta.
- The company blames higher gambling taxes, tighter regulation and a competitive market.
- Remote betting duty rises from 15% to 25% in April next year, following last year’s jump to 40% remote gaming duty.
- The cuts follow similar closures at William Hill, Betfred and Paddy Power, with over 5,000 jobs lost industry-wide since the tax changes began.
bet365 has confirmed it will cut 340 jobs across three of its main locations. The company said the decision comes after months of reviewing its operations.
Most of the job losses will happen at bet365’s headquarters in Stoke-on-Trent. Around 300 roles are expected to go from the UK site alone.
The remaining 40 positions will be cut in Gibraltar and Malta. Both locations serve as hubs for bet365’s international operations.
bet365 employs about 10,000 people around the world. Of those, 5,500 work in Stoke-on-Trent, making it the company’s largest single site.
The 340 job cuts represent roughly 3% of the total workforce. bet365 said the restructuring was needed to protect the long-term future of the business.
A company spokesperson pointed to a mix of pressures behind the decision. These include a competitive betting market along with rising regulatory and tax costs.
What’s Driving the Tax Pressure
Last year’s UK budget nearly doubled the remote gaming duty, pushing it up to 40%. This tax applies to online casino-style games.
A separate tax hike is already scheduled for next year. Remote betting duty will rise from 15% to 25% starting in April.
Horseracing bets have been given an exemption from this increase. Other forms of remote betting will not receive the same treatment.
Industry researchers have also warned about a possible future tax change. If machine games duty rises to 40% in the next budget, more than 2,900 betting shops could be forced to close.
Such a change could strip British horseracing of about £70 million in levy and media rights payments, according to industry modelling.
Wider Shutdowns Across UK Betting Shops
bet365 is not the only gambling company reducing its footprint. William Hill has already announced plans to close 270 shops, though it has not said how many jobs will be lost.
Betfred confirmed in late July that it would shut 132 shops. That closure is expected to affect around 600 employees.
Paddy Power closed 57 shops last October and announced last week that 100 more will shut before the end of the year. That move puts about 400 additional jobs at risk.
The Betting and Gaming Council has warned that more than 600 betting shops will have closed by the end of 2026. The group estimates 5,000 jobs have been lost since the tax increases began.
Gareth Snell, the Labour MP for Stoke-on-Trent Central, said the bet365 cuts should serve as a warning to regulators and the Treasury. He noted the roles being lost are well-paid jobs in a city that needs investment.
bet365 said it is working to reduce the number of job losses where possible. The company confirmed it will start with a programme of voluntary redundancies before any further steps are taken.
Affected staff have already been informed and are receiving support through the process, according to the company.
