Betfred brought in revenue of roughly €1.14 billion (£995.6 million) over the 52 weeks to March 29, 2026, with online accounting for about 45% of that total. Accounts filed with Companies House on Oct. 9 show £720 million in gross profit, £74.1 million in operating profit, and £39.6 million in profit after tax for the period.
Comparing those numbers with the previous accounts is tricky, because Betfred changed its financial year and the earlier period ran for 78 weeks to March 30, 2025. That longer stretch produced £1.46 billion in turnover and £128.8 million in post-tax profit, and on an adjusted 12-month basis, the company said revenue grew by £23.3 million in 2025-26.
Online gambling contributed £451.7 million across the latest 52 weeks, against £563.6 million over the previous 78. Betfred has kept spending on the platform it launched in December 2023, with capitalised development costs reaching £110.4 million and another £22.1 million going on research and development during the year, covering software, data analytics, and mobile products.
Retail is still the bigger half of the business, bringing in £544 million from an estate of 1,293 betting shops over the reporting period. That was already down from 1,351 shops a year earlier, and Betfred announced in July that it would close a further 132 locations and cut more than 600 jobs, which should leave it with around 1,100 shops across the UK.
CEO Joanne Whittaker put the planned closures down to higher employer National Insurance contributions, wage inflation, gambling taxes, and wider economic uncertainty. Employee costs had already risen by £19.2 million on a comparable 12-month basis during 2025-26, even as total headcount fell from 9,622 to 9,463.
April 1 brought the increase in Remote Gaming Duty from 21% to 40%, just days after the reporting period closed. Most remote betting moves to a new 25% General Betting Duty rate on April 1, 2027, while bets placed in licensed retail premises stay at the current 15%. Betfred said the expected effects of the tax changes are already built into its forecasts.
Founder and chairman Fred Done has also raised the alarm over a possible increase in Machine Games Duty, which hits gaming machines in betting shops directly. Doubling the standard rate from 20% to 40% could force Betfred to shut another 495 shops, roughly 45% of what would be left of its retail estate, putting 2,475 jobs at risk, he said. Campaigners have proposed the increase, though the government hasn’t adopted it.
Online has been taking up a growing share of Betfred’s business before the full weight of the UK tax changes shows up in its results, rising from £197 million in 2022-23 to £451.7 million in the latest period. The company is shrinking its retail estate at the same time, even though those shops still produced more than half of its revenue in 2025-26.