Bet365 shedding 340 jobs amid tougher operational conditions

• Bet365 has announced the reduction of its workforce by 340 people, or 3% of its global workforce
• The bulk of the job cuts will come from the company’s hometown, Stoke-on-Trent, with 300 people laid off locally
• Bet365 has cited the increasingly challenging operational climate as the reason for its decision

Bet365, one of the most influential gambling firms in the world, which recently expanded in both West Virginia and Washington, D.C., has announced that it will be shedding hundreds of jobs.

Bet365 cites operational challenges as it decides to reduce workforce

As per the company’s official confirmation, 340 jobs will be affected in the cost-trimming move, which is attributed to growing pressure on business, including taxation and regulation, along with a more competitive trading environment.

A company spokesperson said: "As an international business, we continually review and assess our operations to ensure the business' long-term future. We're currently facing a highly competitive trading environment, plus increased regulatory and tax-related costs."

With the remote gaming duty hitting 40% in last year’s budget, and a new remote betting duty of 25% due to take effect in April 2027, bet365 has decided to start cutting costs early and prepare for the shifting operational climate.

Observers note that at least 2,900 betting shops may be forced to shut due to the new taxation. As to the company’s decision to lay off hundreds of people, the move constitutes a blow to the local economy in Stoke-on-Trent, the company’s headquarters, which will see 300 people let go.

Another 40 will come out of the company’s offices in Gibraltar and Malta. Overall, the layoffs represent 3% of the company’s 10,000-strong global workforce, with 5,500 positions held in Stoke-on-Trent, and bet365 constituting one of the largest employers in the region.

"We're committed to minimising the impact on our people and are exploring all avenues to reduce the number of redundancies. As a first step, we're planning a programme 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," the bet365 spokesperson added.

Bet365 is not the only company to have been mulling various moves to reduce costs as priorities shift. Betfred announced plans to close 132 shops, William Hill confirmed 270 closures, and Paddy Power has cumulatively shuttered 157 shops so far.

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