Betfred has confirmed plans to shut 132 betting shops across the UK, with more than 600 employees facing potential redundancy as the bookmaker restructures its retail business in response to mounting operating costs.
The closures, which represent roughly 10% of the company’s retail estate, are scheduled to begin in September. Once completed, Betfred will operate around 1,100 betting shops nationwide.
Chief executive Joanne Whittaker said the decision was driven by a combination of rising employer National Insurance contributions, increasing wage costs, higher gambling taxes and continued economic uncertainty. According to the company, these pressures have made it financially impossible to keep all locations open.
Betfred said it had carefully reviewed its retail portfolio before deciding which outlets would close. The operator stressed that the affected employees will be supported through a consultation process as the closures move forward.
The move follows similar cost-cutting measures across the UK betting sector. Earlier this year, William Hill owner Evoke announced plans to close around 270 betting shops as operators continue to adjust to higher taxes and increasing costs.
The wider industry is also preparing for further fiscal changes. Recent UK tax reforms increased the Remote Gaming Duty from 21% to 40%, while a new 25% duty on online sports betting is due to take effect in April 2027. These measures are expected to place additional financial pressure on gambling operators.
Founded in 1967 by brothers Fred and Peter Done, Betfred has grown into one of Britain’s largest bookmakers. Despite the latest reductions, the company will remain one of the country’s biggest retail betting operators, although its high street footprint will be significantly smaller after the planned closures.