TLDR
- Betfred reported a pre-tax profit of £64 million ($84.59 million) for the 52 weeks ended March 29, 2026.
- The bookmaker plans to close 132 UK betting shops, about 10% of its retail network, with around 600 jobs expected to go.
- Retail turnover reached £544 million, compared with £451.7 million from online gambling.
- Betfred will end its Super League sponsorship at the close of the 2026 season, citing higher taxes and wage inflation.
- Remote Gaming Duty rose from 21% to 40% in April 2026, after the reporting period ended.
Betfred reported a pre-tax profit of £64 million ($84.59 million) for the 2025-26 financial year. The figures come from accounts filed with Companies House.
The results cover the 52 weeks ended March 29, 2026. The previous financial period covered 78 weeks, so the headline figures cannot be directly compared.
The bookmaker is also dealing with higher gambling taxes in the UK. It plans to close betting shops, cut spending and end a major sports sponsorship deal.
Betfred’s Profit and Turnover Figures
Betfred generated £720 million ($951.62 million) in gross profit and £74.1 million ($97.94 million) in operating profit during the period. After £24.4 million in tax, the company recorded a profit of £39.6 million ($52.34 million).
A positive foreign exchange difference of £9.5 million lifted total comprehensive profit to £48.7 million ($64.37 million).
Retail was the larger part of the business. Betfred’s shops generated £544 million ($719 million) in turnover, compared with £451.7 million ($597 million) from online gambling.
That puts retail at about 55% of total turnover and online at about 45%. Combined turnover came in just below £1 billion ($1.32 billion).
The company recorded £147.4 million in betting duty, £54.5 million in machine gaming duty and £18.6 million in statutory betting duty. It also listed £55.1 million in commission.
The accounts included costs linked to Betfred’s continued exit from its US businesses. The group reported £7.1 million in exceptional costs, including £4.6 million tied to aborted acquisitions.
UK Tax Hikes Lead to Shop Closures and Job Cuts
Betfred has confirmed plans to close 132 betting shops across the UK. That is about 10% of its retail network, and around 600 jobs are expected to go.
Owner Fred Done has warned that the firm could close its entire UK betting shop network because of the higher tax burden.
The company has also looked at entering the adult gaming centre market, according to NEXT.io. No such move has taken place so far.
The financial impact of the latest tax changes has not yet shown up in Betfred’s reported results. Even so, the company has already changed its operations and spending.
Betfred confirmed last month that it will end its long-running sponsorship of rugby league’s Super League at the close of the 2026 season.
Done said the decision was due to higher gambling taxes and wage inflation. He said the Warrington-founded bookmaker had been forced to cut spending after the tax increases.
The reporting period ended before the latest UK tax rises took effect. Remote Gaming Duty rose from 21% to 40% at the start of April 2026.
A new 25% General Betting Duty rate is set to begin next year. It will exclude self-service betting terminals, spread betting, pool betting and horse racing.
Betfred’s next annual accounts should be the first to show the higher Remote Gaming Duty rate. It is not yet clear whether the new General Betting Duty will fall within that reporting period.
