Betfred has warned the Labour government that proposed gambling tax rises could wipe out its entire UK retail estate of 1,300 betting shops, threatening 7,000 jobs.

Chief Executive Joanne Whittaker told The Sunday Times that the bookmaker is modelling the “worst-case scenario” ahead of the Autumn Statement, in which Chancellor Rachel Reeves is expected to confirm major increases to gambling duties backed by former Prime Minister Gordon Brown and the Institute for Public Policy Research (IPPR).

“This is not scaremongering,” Whittaker said. “It’s a business reality. The most frightening element is we’re going to lose the whole retail business.”

The Treasury is considering several tax options for the 26 November Budget. The headline proposal would double the General Betting Duty on sports betting from 15% to 30%, raise Machine Games Duty on slots from 20% to 50%, and increase Remote Gaming Duty (RGD) on online play from 21% to 50%.

A lesser scenario would align all forms of gaming tax at the existing RGD rate of 21%, currently applied to online slots, poker and bingo. Even that alignment, however, would require major adjustments for UK licence holders and reshape the retail betting landscape.

Whittaker said such changes would not only reduce Betfred’s ability to invest but also damage the Treasury’s own tax take by driving customers to unregulated operators. “If these rates go through, the reality is we won’t have a business left to tax,” she warned.

Betfred is Britain’s “second-largest taxpayer”, with the Done family paying £273.4m to the Exchequer in 2025. Despite two consecutive loss-making years — £71m in 2023 and £35m in 2024 — the group has continued to invest in its high-street estate, viewing the post-COVID period as an opportunity to consolidate its position as the UK’s largest betting operator.

The company’s intervention follows similar warnings from industry rivals. In October, Evoke (William Hill) confirmed they are reviewing 10-15% of their retail shops, preparing for potential closures if tax rises go ahead. Stella David, Group CEO of Entain Plc (Ladbrokes and Coral) has also signalled that an increase in betting duties would trigger an estate reduction and job losses.

Implementing changes ahead of the November budget, Flutter Entertainment confirmed that it would bring changes to the highstreet profile of Paddy Power in the UK regardless of the tax outcome.

Whittaker argued that Treasury officials underestimate the role of retail betting in local economies, particularly in towns where shops form part of daily community life. “We’ve got people in the Treasury who don’t understand our business,” she said.

Betfred’s CEO  criticised easy stereotypes  framing bookmakers as a social problem. “We’re not the scourge of society,” she told The Sunday Times.

“The average bet in our shops is £9. People come in for a chat, have a coffee, and enjoy a flutter. We provide a safe, comfortable environment for people who want to bet responsibly.”

Whittaker’s interview with The Sunday Times came just a couple of days after Betfred filings with Companies House revealed an exchange of securities between Petfre (Gibraltar) Ltd, the operator of its online betting platform, and the wider Betfred Group. 

This may suggest that the company is preparing financially for the impact of tax hikes on its UK activity, particularly retail operations – though there is also every chance that the transfer is a mundane business procedure that would have occurred regardless of the tax debate. The timing is interesting nonetheless. as the Autumn Statement now less than six weeks away, industry leaders remain on red alert.