TLDR bet365 will cut 340 jobs across Stoke-on-Trent, Malta and Gibraltar, about 3% of its workforce. Around 300 of the cuts will hit the Stoke-on-Trent headquarters, with 40 more in Gibraltar and Malta. The company blames higher gambling taxes, tighter regulation and a competitive market. Remote betting duty rises from 15% to 25% in April next year, following last year’s jump to 40% remote gaming duty. The cuts follow similar closures at William Hill, Betfred and Paddy Power, with over 5,000 jobs lost industry-wide since the tax changes began.
bet365 has confirmed it will cut 340 jobs across three of its main locations. The company said the decision comes after months of reviewing its operations.
Most of the job losses will happen at bet365’s headquarters in Stoke-on-Trent. Around 300 roles are expected to go from the UK site alone.
The remaining 40 positions will be cut in Gibraltar and Malta. Both locations serve as hubs for bet365’s international operations.
bet365 employs about 10,000 people around the world. Of those, 5,500 work in Stoke-on-Trent, making it the company’s largest single site.
The 340 job cuts represent roughly 3% of the total workforce. bet365 said the restructuring was needed to protect the long-term future of the business.
A company spokesperson pointed to a mix of pressures behind the decision. These include a competitive betting market along with rising regulatory and tax costs.
What’s Driving the Tax Pressure
Last year’s UK budget nearly doubled the remote gaming duty, pushing it up to 40%. This tax applies to online casino-style games.
A separate tax hike is already scheduled for next year. Remote betting duty will rise from 15% to 25% starting in April.
Horseracing bets have been given an exemption from this increase. Other forms of remote betting will not receive