Betfred records £995.6m revenue in 2026 after investing in online channel

Betfred recorded revenue of £995.6m in the 52 weeks to 29 March 2026, while post-tax profit fell to £39.6m. The Warrington-headquartered bookmaker also reported a gross profit of £720m and an operating profit of £74.1m, according to the latest accounts filed at Companies House.

Results: Betfred 2026 revenue and margins

The figures cover a 52-week period, different from the prior report which covered 78 weeks to 30 March 2025; the company warned that “comparative amounts may not be directly comparable in all respects”. In that 78-week period revenue approached £1.5bn, gross profit was almost £1.1bn and operating profit reached £209.7m. Post-tax profit in the prior period was £128.8m.

Management attributed part of the decline in net profit to costs associated with growing the online channel and to marketing campaigns tied to that channel. Betfred said increased digital marketing investment delivered an uplift in revenue of £23.3m on a comparable 12-month adjusted basis.

“We have increased marketing linked to online operations to grow market share and attract new customers,” the company said in the report.

Digital sales and investment in Betfred Technology

Of the total £995.6m revenue, £451.6m — roughly 45% — came from Betfred’s digital arm. The company reported that by 29 March 2026 it had invested £110.4m in development costs to overhaul its online platform. The new platform went live in December 2023 and the migration of all UK customers was completed in early 2024.

Following the migration, Betfred absorbed the Manchester-based technology agency Sharp Gaming, which was renamed Betfred Technology. Andrew Daniels, formerly head of Sharp Gaming, was appointed Betfred’s chief information officer.

The company also recorded £4.6m in its profit and loss account classified as “aborted acquisition costs”, without specifying the transactions to which those costs related.

Gambling taxes and regulatory risks ([regulation](/regulation))

The reporting period closed days before the remote gaming duty rose from 21% to 40% on 1 April 2026. Betfred said the impact of tax increases from April 2026 and the planned rises in general betting duty from April 2027 are already reflected in its forecasts.

The general betting duty rate is scheduled to rise from 15% to 25% in April next year. There is also concern over a possible rise in the machine games duty; think tank Social Market Foundation has proposed increasing that rate from 20% to 40%, a measure reportedly under study by Chancellor John Healey. Fred Done, Betfred’s founder, warned that 45% of the company’s retail estate would close if the rate doubled.

Betfred said it paid more than £200m in combined betting duty and machine games duty during the period, in addition to £18.6m in statutory levy payments. The Betting and Gaming Council warned on Monday 12 October that doubling the rate would put 3,800 jobs at risk in the sector and would cancel £50m of planned investment, describing it as an “existential threat” to British casinos.

Store closures, staffing and labour costs

The company has announced the closure of 132 outlets from its retail network, a move that puts about 600 jobs at risk from potential redundancies. The report shows Betfred operated 1,293 shops at 29 March 2026, down from 1,351 in the prior period. The report says “loss-making shops are under constant review and are closed when the company considers it appropriate”.

Average headcount fell from 9,622 to 9,463 employees, despite staff costs rising by £19.2m on a comparable basis. The payroll increase was attributed to higher national minimum wages and employer national insurance contributions. The highest-paid director received £838,000 in the period.

Governance, succession and the competitive landscape ([b2b](/b2b), [news](/news))

Betfred said it has “improved governance and oversight arrangements over the last year” as part of succession planning for when Fred Done steps back from operational responsibilities. Done remains chairman and Joanne Whittaker is chief executive officer (CEO).

In September, MrQ’s parent company, Lindar Media, filed accounts at Companies House showing revenue of £120m, and warned of the “existential” challenges posed by tax increases and a stalled UK economy.

Technology suppliers and operators will watch whether platform investment and the shift to the digital channel offset tax pressures and the trimming of the physical network. For product and technology leads, the integration of Sharp Gaming into Betfred Technology and the reported development spend represent a clear bet on internalising technology capabilities.

What to watch next

Key items to monitor include the real-world effect of the remote gaming duty rise from April 2026, the implementation of the increased general betting duty in April 2027, and any decision on machine games duty. It will also be important to track how digital figures evolve against continued shop closures and whether technology investments deliver growing returns in revenue and efficiency.