The Betting and Gaming Council (BGC) reports that the UK retail betting sector has lost 4,500 jobs and 540 high-street shops since last year's budget. The organization challenges the Treasury's position that tax policy changes have not affected physical betting locations.
Workforce Reductions and Tax Policy
According to the BGC, the total number of betting shops has dropped to approximately 3,000, while the workforce has decreased by 15,000 positions since 2019. The remaining establishments currently employ around 37,500 people. The Treasury previously stated that high-street gambling duty rates remained unchanged, suggesting government policy was not responsible for the closures.BGC chief executive Grainne Hurst argued that the Treasury's assessment overlooks the integrated nature of betting operations. She noted that the doubling of online gaming duty impacts the entire business structure, leading to reduced investment and job cuts across all divisions. Hurst warned that upcoming increases in online sports betting duty will further strain operators and reduce funding for British sports sponsorship.
Earlier this month, Betfred announced plans to close 132 betting shops, adding to the ongoing contraction in the retail sector.