Bet365 Announces 340 Job Cuts at UK and European Hubs Amid Tax Pressure

Bet365 will eliminate 340 roles across its Stoke-on-Trent head office, Malta, and Gibraltar hubs, a move representing around 3% of its global workforce. The operator attributes these redundancies to rising tax obligations in the UK and intensifying competition. Most affected positions are within trading and operations teams at the Staffordshire headquarters—in a region where bet365 is the largest private employer.

Bet365 Job Cuts: Scope and Drivers

A total of 340 staff are set to depart, with the largest portion—about 300 positions—at bet365’s main UK site in Stoke-on-Trent. Staff in Malta and Gibraltar will also see a reduction of several dozen positions. Recent filings to Companies House state bet365 employs 9,462 people globally; the planned redundancies equate to approximately 3% of headcount.

The operator describes the move as a response to "a highly competitive trading environment, plus increased regulatory and tax-related costs." Public records list the Stoke-on-Trent site’s headcount at around 5,500. The company remains family-owned and has a significant employment presence in Staffordshire.

"As an international business, we continually review and assess our operations to ensure the business’ long-term future...We are restructuring some of our locations this year. Ultimately, this will result in a reduction of approximately 340 roles across our European hubs, which is the equivalent of around 3% of the workforce," a bet365 spokesperson explained.

The firm has initiated a voluntary redundancy programme and stated it is "committed to minimising the impact on our people and...are exploring all avenues to reduce the number of redundancies."

UK Gambling Tax Hikes and Sector Impacts

The announcement follows a sharp rise in UK remote gaming duty, which increased from 21% to 40% on 1 April. Furthermore, remote general betting duty—excluding domestic horseracing—is set to rise from 15% to 25% in April of the following year. These changes have immediate cost implications for UK-facing online operators like bet365.

There is also industry anticipation that the Autumn Budget on 28 October may raise machine games duty (MGD) on Category B machines in betting shops, casinos, bingo halls, and Adult Gaming Centres. Both the Social Market Foundation and former UK Prime Minister Gordon Brown have proposed doubling MGD to 40%, a move widely criticised as potentially devastating for the British land-based gambling industry. A recent Times report indicated the current UK Chancellor John Healey is considering further tax increases in this sector.

Industry-Wide Cost-Cutting Measures

Bet365’s downsizing is not occurring in isolation. Several major operators have recently disclosed their own cost-saving actions. Flutter, for example, signalled last week that up to 100 Paddy Power shops could close to counterbalance rising costs. Evoke, parent company of William Hill, and Betfred have both confirmed shop closures, citing the surge in remote duties as a major factor.

Entain, which owns Ladbrokes and Coral, has announced a reduction of 500 roles worldwide—about 2% of its workforce—though did not attribute the cuts only to tax changes. Bet365, in contrast, does not operate any retail betting shops, with all reductions focused on its digital operations.

Redundancies Process and Employee Support at Bet365

The affected employees at bet365 have been informed of the changes. The company has started with a voluntary redundancy scheme and stated that full support is being offered throughout the transition. A spokesperson emphasised their commitment to "our colleagues," indicating that efforts are ongoing to minimise the number of compulsory job losses.

Tax-Driven Restructuring in the iGaming Sector

With escalating duties and taxes, UK-facing operators are pursuing structural changes to ensure ongoing viability. For other operators, the pressures of rising costs are prompting workforce reductions, venue closures, or expansion into new markets. Bet365’s announcement confirms that tax policy decisions continue to have direct consequences for operational strategy and employment in the iGaming industry.