Bet365 slashes hundreds of jobs in the UK as bookies reel from Labour's tax raid

See more This is Money on Google - save us as a Preferred Source Updated: 10:56 EDT, 8 September 2026 Bet365 is slashing hundreds of UK jobs following the Government’s tax raid on the gambling sector.The business, which is run by Britain’s best-paid woman Denise Coates, said it was shedding 300 jobs at its headquarters in Stoke-on-Trent, which employs around 5,500 people. It will also cut another 40 roles across offices in Malta and Gibraltar. This adds to the 4,500 jobs already lost in the gambling sector since Labour’s Budget last year, as Andy Burnham braces for a battle with Britain’s biggest bookies.The former Chancellor Rachel Reeves increased taxes on remote gaming from 21 per cent to 40 per cent in her last Budget, and the levy on online sports betting from 15 per cent to 25 per cent. A Bet365 spokesperson said: ‘As an international business, we continually review and assess our operations to ensure the business’ long-term future. 'We are currently facing a highly competitive trading environment, plus increased regulatory and tax-related costs. Bet365 has become the latest to slash jobs after a new remote gambling duty hit the sector ‘As a result 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 three per cent of the workforce.‘We are committed to minimising the impact on our people and are exploring all avenues to reduce the number of redundancies. As a first step, we are planning a programme of voluntary redundancies.‘Our colleagues are our priority. We understand the concerns many will have. Impacted staff have been informed and are being fully supported throughout this process.’Bet365 boss Coates has earned more than £2.6billion through her family's gambling business over the last eight years. She received a salary of nearly £104million from the firm for the year to March 2025, according to the most recently filed accounts.More than 540 shops have shut since November, according to industry body Betting and Gaming Council (BGC).Betfred said in July it would close 132 shops, resulting in 600 job losses.Meanwhile, William Hill owner Evoke has shut 270 shops since the Budget and Ladbrokes owner Entain has also said it would cut around 500 jobs.The Government has argued that High Street closures are not its fault, but gambling giants say they faced tough choices because they manage retail and online divisions through the same balance sheet.New Prime Minister Burnham has also set out plans to ‘stop unwanted vape and betting shops taking over high streets.’His Government has said he will revoke part of the 2005 Gambling Act, which restricts the ability of councils to reject new betting shops and 24-hour slot machine shops even where there is a backlash from the local community.Grainne Hurst, chief executive of the Betting and Gaming Council, said the job cuts at Bet365 were 'yet more evidence of the real-world consequences' of the tax raid on the sector.She added: 'The sector repeatedly warned that higher taxes would lead to job losses, less investment and damage to successful British businesses, and sadly that is exactly what we are now seeing.'Bet365 is one of Stoke-on-Trent’s biggest employers and a major British success story. The loss of hundreds of jobs will be deeply felt by workers, their families and the wider local economy.'Hurst said the Government must rule out further tax rises and 'instead pursue an evidence-led approach which protects jobs, investment and the regulated market, rather than handing an advantage to the unsafe, unregulated illegal gambling market.'DIY INVESTING PLATFORMSAJ BellAJ BellEasy investing and ready-made portfoliosHargreaves LansdownHargreaves LansdownFree fund dealing and investment ideasinteractive investorinteractive investorFlat-fee investing from £4.99 per monthFreetradeFreetradeInvesting Isa now free on basic planTrading 212Trading 212Free share dealing and no account feeAffiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.Compare the best investing account for you