Betfred to close 132 betting shops – and will slash over 600 jobs

• Betfred is set to close 132 of its betting shops and cut over 600 jobs from September.
• The company attributes these significant reductions to increased taxation, higher employer national insurance contributions, wage inflation, and wider economic uncertainty.
• This move will affect more than a tenth of Betfred's retail estate, leaving approximately 1,100 shops across the UK.
• Other major betting firms, including William Hill and Paddy Power, have also closed numerous stores recently due to similar economic pressures.
• The closures follow an increase in remote gaming duty from 21 per cent to 40 per cent from April 2026, and a new 25 per cent online sports betting duty (excluding horse racing) from 2027.

IN FULL

Betfred to shut 132 shops and axe 600 jobs after gambling tax hikes