Bet365 to Cut 340 Jobs Amid Rising Tax and Regulatory Costs

Bet365 is set to cut approximately 340 jobs across its operations in the UK, Malta and Gibraltar, with the majority of the reductions expected at its Stoke-on-Trent headquarters. Around 300 positions are expected to be affected in Stoke-on-Trent, while a further 40 roles will be impacted across the operator’s offices in Malta and Gibraltar.

The planned cuts represent roughly 3% of bet365’s global workforce. The company employs around 10,000 people worldwide, including approximately 5,500 employees in Stoke-on-Trent, making the UK operation the main focus of the restructuring.

Bet365 said the changes come as the business faces increased regulatory and tax costs alongside continued competition across its markets. The operator will initially seek voluntary redundancies in an effort to reduce the number of compulsory job losses, with affected employees being informed and offered support throughout the process.

The announcement comes as the UK gambling industry prepares for significant increases to online gambling taxes. Remote Gaming Duty is set to rise from 21% to 40%, while the tax rate on online sports betting will increase from 15% to 25%, adding further pressure to operators already dealing with higher compliance and operating costs.

Bet365 is not alone in responding to the changing economics of the UK market. William Hill has announced plans to close 270 betting shops, while Betfred is closing 132 locations, affecting around 600 jobs. Paddy Power has also announced plans to close a further 100 shops, highlighting the broader cost-cutting underway across the sector.

The Betting and Gaming Council has warned that the wider tax changes could contribute to more than 600 betting shop closures and approximately 5,000 job losses across the UK gambling sector by the end of 2026. The industry body has argued that higher taxation will put further pressure on operators and their retail estates.

Despite the planned redundancies, bet365 continues to advertise positions across areas including technology and regulatory operations at its Stoke-on-Trent headquarters. This indicates that the restructuring is focused on particular areas of the business rather than representing a company-wide hiring freeze.

The cuts mark another significant adjustment for one of the UK’s largest gambling employers as operators contend with rising taxation, regulatory costs and an increasingly competitive market.