Gambling operator bet365 is reducing its workforce by around 340 positions as part of a restructuring plan linked to rising costs and increased regulatory pressure.

The company said the changes will affect its European operations, with most impacted roles based at its Stoke-on-Trent headquarters. Around 300 positions are expected to be removed in the UK, while approximately 40 roles will be affected in Malta and Gibraltar.

bet365 employs around 10,000 people globally, including about 5,500 staff in Stoke-on-Trent, where the company remains one of the largest employers.

The operator said it has been reviewing its structure due to a combination of higher taxation, additional regulatory costs and a competitive trading environment.

A bet365 spokesperson said:

“As an international business, we continually review and assess our operations to ensure the business’s long-term future. We’re currently facing a highly competitive trading environment, plus increased regulatory and tax-related costs.

“As a result we’re 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.

“We’re committed to minimizing the impact on our people and are exploring all avenues to reduce the number of redundancies. As a first step, we’re planning a program 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.”

UK Tax Changes Increase Industry Pressure

The planned job reductions follow several tax increases affecting gambling businesses operating in the UK.

Remote Gaming Duty increased to 40% after last year’s budget, while Remote Betting Duty is scheduled to rise from 15% to 25% from April next year. Horseracing received an exemption from the upcoming increase.

The industry has also raised concerns about a possible increase in Machine Games Duty. Reports suggest that a 40% rate could lead to more than 2,900 betting shop closures and reduce the sector’s contribution to British racing through levy payments and media rights by around £70 million.

Several major operators have already announced restructuring measures and shop closures following recent tax changes. William Hill confirmed plans to close 270 betting shops, while Betfred announced the closure of 132 locations, with around 600 jobs expected to be affected. Paddy Power also revealed plans to close another 100 shops after previously announcing 57 closures, putting around 400 jobs at risk.

The Betting and Gaming Council has estimated that more than 600 betting shops could close and 5,000 jobs could be lost by the end of 2026 following last year’s budget measures.

Calls For Government Review

The announcement has prompted concerns from local representatives and gambling industry leaders.

According to Bloodhorse, Gareth Snell, Labour MP for Stoke-on-Trent Central, said the bet365 redundancies should raise concerns among regulators and government officials.

“These are well-paid jobs in an area of the country that needs investment. bet365 is an internationally successful company built from the ground up in Stoke-on-Trent.”

Betting and Gaming Council chief executive Grainne Hurst described the cuts as further evidence of the impact caused by recent tax increases.

“The government must now rule out any further tax rises on the sector. Ministers should 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.”

bet365 said it is working to limit compulsory redundancies by offering voluntary redundancy options and supporting affected employees throughout the process. The company said staff members impacted by the restructuring have already been informed.