Betfred Warns 1,287 Shops Could Close Over Tax

Betfred says it will close all 1,287 of its high‑street betting shops and put roughly 7,000–7,500 jobs at risk if Chancellor Rachel Reeves raises gambling duties in next month’s budget. Founder Fred Done and CEO Joanne Whittaker warn that proposed duty rises — potentially pushing overall gambling taxes to around 35–40% and including proposals such as raising sports‑betting duty from 15% to 30% and slot machine duty to 50% — would eliminate profits and send punters to offshore operators. Betfred and rivals including William Hill and Paddy Power, and the Betting and Gaming Council, say higher duties would accelerate retail closures and swell the black market. Supporters of higher taxes, notably Gordon Brown and the IPPR, argue the changes could raise about £3.2bn to fund measures such as reducing child poverty. The Chancellor has said gambling firms should “pay their fair share”, while industry leaders point to rising costs and already loss‑making shops that they say make retail betting unsustainable.