Betfred records £64m pre-tax profit for 2026

Betfred has reported a pre-tax profit of £64m for the year ended 29 March 2026, according to accounts filed at Companies House. The accounting period covered 52 weeks versus 78 weeks in the prior year, so the figures are not directly comparable across periods. The bookmaker also recorded exceptional charges of £7.1m, including £4.6m linked to costs arising from failed acquisition efforts related to its exit from the US market.

Betfred £64m pre-tax profit: revenue and segment breakdown

The accounts show that retail revenue was the largest income source. Shop takings generated £544m, while online revenue amounted to £451.7m over the same period. The company reported a gross profit of £720m after deducting betting duty, machine duty and other operating costs.

Operating profit was £74.1m, and pre-tax profit was £64m. After taxes of £24.4m the company’s profit from continuing operations was £39.6m. In comprehensive income terms, Betfred recorded £48.7m, which includes a positive exchange movement of £9.5m.

Taxes and gambling-specific charges

The company broke down the principal gaming taxes and levies in its accounts:

• betting duty: £147.4m

• machine duty: £54.5m

• gaming duty: £18.6m

• cost of commissions: £55.1m

The company also reported exceptional charges of £7.1m, of which £4.6m relate to costs connected with failed acquisition attempts and Betfred’s exit from the US market.

Shop closures and workforce: a UK reconfiguration

In July Betfred announced plans to close 132 shops in the United Kingdom, approximately 10% of its retail estate. The restructuring will result in the loss of 600 jobs. Fred Done, co-owner of the firm, attributed the decision in part to the tax increase applied to the sector in the UK from April 2026 and warned it threatens the company’s viability in the local market.

"The tax increase would jeopardise the company’s existence in the UK," said Fred Done.

The company states the measures respond to the need to adjust its physical footprint in light of new tax burdens and falling profitability in certain units.

Accounting matters: periods and comparability

The year ended 29 March 2026 covered 52 weeks, while the prior year covered 78 weeks. That timing difference prevents direct like-for-like comparisons between the two years without adjusting for the differing durations. The company records this point in the accounts filed at Companies House.

In addition, the accounts reflect a positive currency translation movement of £9.5m, included within the £48.7m of comprehensive income.

What do the exceptional charges and US exit mean?

The £7.1m in exceptional charges include £4.6m associated with costs arising from acquisition attempts that did not complete and with the winding down of operations in the US market. Betfred links those costs to its exit from the United States and to the closure and divestment processes involved.

The company does not disclose every element that makes up the £7.1m in its public accounts, but specifies that a significant portion relates to transaction expenses and restructuring costs connected to the US exit.

Commercial and regulatory repercussions for operators

The figures put Betfred in a position that forces a reassessment of its commercial mix: retail still represents the bulk of revenue, but tax and operating costs are squeezing the cost structure. The UK tax rise from April 2026 is cited in the accounts as a factor that hastened the decision to close shops. For suppliers of platforms and services, the closure programme and the group’s reorientation mean demands around channel integration and physical asset management; see our [B2B coverage](/b2b) for context. For investors, the results provide concrete numbers on margins and the impact of taxes and exceptional charges in the income statement.

For providers of platforms and services, the closure plan and the group’s reorientation create integration and asset-management demands, while investors get clearer data on margins and tax impacts.

What matters

Betfred closed the 52-week year with £64m pre-tax profit and £39.6m after-tax profit. The company took exceptional charges of £7.1m, of which £4.6m are linked to the US exit. Retail was the main revenue source with £544m versus £451.7m from the online channel. In July the firm announced the closure of 132 shops and the loss of 600 jobs, decisions the management ties to the tax rise implemented from April 2026.

Written by Emilio Navarro, Technology Sector Correspondent.