Betfred Reports £995.6 Million Turnover as Retail-Online Gap Narrows
United Kingdom.- 13 October 2026 | www.zonadeazar.com Betfred Group has reported its financial results for the 2025/26 financial year, recording total turnover of £995.6 million during the 52 weeks ended 29 March 2026.
One of the key developments highlighted in the report is the growing contribution of digital operations, which accounted for 45% of total turnover, compared with 55% generated by retail betting.
The company continues moving towards a more balanced commercial structure between the two segments while facing rising operating costs and increasing taxation pressures across the United Kingdom.
Turnover Reaches £995.6 Million
Betfred reported annual turnover of £995.6 million, compared with approximately £1,458.5 million in the previous financial period.
However, the figures are not directly comparable because the 2025/26 financial year covered 52 weeks, while the previous reporting period extended across 78 weeks, following a change to the company’s financial year-end.
On a like-for-like 12-month basis, Betfred recorded a £23.3 million increase in turnover.
Retail Accounts for 55% of Turnover
Retail betting operations generated approximately £544 million during the financial year.
This represented 55% of total group turnover, compared with 61% in the previous reporting period.
The declining relative contribution of retail reflects the gradual transformation of Betfred’s commercial model, which has historically relied on its extensive network of betting shops.
Online Business Reaches 45%
Digital operations contributed approximately £451.7 million to total group turnover.
With a 45% share, the online segment is moving closer to matching revenue generated through physical betting shops.
The growing relative importance of digital operations partly reflects the company’s strategy of increasing marketing investment to gain market share and attract new customers.
Increased Marketing Investment
Betfred increased its marketing expenditure during the reporting period to strengthen its commercial position and expand its customer base.
The company explained that these investments contributed to the increase in turnover measured on a comparable 12-month basis.
Higher commercial expenditure also affected the group’s administrative cost structure.
Gross Profit Reaches £720 Million
The financial results demonstrate substantial operating activity, although profitability was affected by various expenses and accounting adjustments.
Key financial indicators include:
- Total turnover: £995.6 million.
- Retail turnover: £544 million.
- Online turnover: £451.7 million.
- Gross profit: approximately £720 million.
- EBITDA: £140.6 million.
- Operating profit: £74.1 million.
- Pre-tax profit: £64 million.
- Net profit: £39.6 million.
These results cover the 52-week period ended 29 March 2026.
Exceptional Costs Reach £7.1 Million
Betfred recorded £7.1 million in exceptional charges during the financial year.
This figure included £4.6 million associated with acquisition transactions that were ultimately abandoned.
The report also included approximately £801,000 in closure costs relating to a foreign subsidiary, connected with the group’s withdrawal from the United States market.
International Business Restructuring
The company confirmed that it had completed its withdrawal from the US betting market.
The process involved ending its remaining operations after progressively exiting several American jurisdictions.
Betfred also reported that the disposal of its Spanish online business, completed in 2024, had generated a £1.6 million profit.
These developments form part of the company’s ongoing restructuring of its international operations and commercial portfolio.
Retail Betting Shop Network Contracts
Betfred ended the financial year operating 1,293 betting shops, compared with 1,351 in the previous period.
This represents a reduction of 58 locations across its retail estate.
The company continues reviewing the profitability of individual shops and assessing potential closures where operations are no longer commercially sustainable.
The contraction of its retail network coincides with the growing relative importance of online betting.
Up to 132 Additional Shop Closures Considered
During 2026, Betfred also announced that it was considering closing up to 132 additional betting shops across the United Kingdom.
The proposal forms part of a consultation process designed to assess the impact of higher gambling taxes and rising operating expenses.
The potential restructuring could affect more than 600 employees, depending on the final outcome of the consultation.
Employment Costs Increase
Employee-related expenses rose by £19.2 million on a comparable 12-month basis.
Betfred attributed the increase mainly to two factors:
- Higher National Minimum Wage requirements.
- Increased employer National Insurance contributions.
The rise in staff costs occurred despite a reduction in the company’s workforce.
According to the reported figures for directly employed staff, employee numbers decreased from 7,872 to 7,795.
Corporate Tax Charge of £24.4 Million
Betfred recorded a corporate tax charge of £24.4 million, compared with £59.8 million in the previous financial period.
The company also disclosed unrecognised deferred tax assets of up to £7 million.
However, these figures relate to a financial year that ended before several major gambling tax increases came into effect in the United Kingdom.
Remote Gaming Duty Increases
One of the major challenges facing Betfred is the increase in Remote Gaming Duty (RGD), which applies to certain online gambling activities.
The tax rate increased from 21% to 40% in April 2026.
Consequently, the financial impact of the higher rate is not directly reflected in the results for the year ended March 2026.
The increase places additional pressure on the operating margins of the digital gaming segment.
Further Betting Tax Changes
The UK fiscal framework also includes additional tax changes affecting remote sports betting from April 2027.
There is also the possibility of an increase in Machine Games Duty (MGD), which applies to gaming machines operating in physical betting establishments.
These potential changes create further uncertainty regarding the future profitability of parts of the gambling industry.
Warnings From Fred Done
Fred Done, founder of Betfred, has publicly expressed concern about the potential consequences of further gambling tax increases for the retail betting industry.
Done warned that a possible doubling of Machine Games Duty could force the company to close 495 betting shops.
According to his estimates, such a scenario could result in:
- The loss of approximately 2,575 jobs.
- Around £67 million in lost tax revenue for the UK Treasury.
- A substantial contraction of the country’s retail betting network.
Done believes that additional taxation could accelerate the closure of traditional betting shops across the United Kingdom.
Transformation of the Commercial Model
Betfred’s results reflect an ongoing transition towards a business structure in which online operations play an increasingly important role.
Although retail remains the largest contributor to turnover, the gap between the two segments has narrowed considerably.
Digital expansion allows Betfred to diversify its commercial channels, but also exposes the group to additional regulatory, taxation and technological requirements.
Next Steps and Impact
Betfred’s 2025/26 results demonstrate that the company continues generating turnover close to £1 billion while transforming the composition of its business.
The growing relative importance of online operations and the reduction of the physical betting shop network reflect a long-term trend across the UK gambling market.
However, future financial performance will be influenced by the tax increases introduced in April 2026 and additional changes scheduled for 2027.
Operating margins, digital investment and decisions concerning further betting shop closures will be among the key factors shaping Betfred’s future.
The company’s experience may also provide a useful indication of how major UK gambling operators are adapting their business models to the combined pressures of digital transformation, rising costs and increased taxation.
Editó: @fonta
