Betfred shows betting shops still have a place on the UK high street – Daily Business

In their most recent set of accounts, Betfred highlighted the importance of betting shops on the UK high street.

They’ve come under fire in recent years as the traditional British high street has become a shadow of its former self. Many criticise how they look at the moment, with very few shops other than charity shops, vape shops, phone shops, hairdressers/barbers, and bookies.

Even Prime Minister Andy Burnham has referenced bookmakers as a reference point about how high streets have become “hollowed out” and “unrecognisable” in a speech he made as he pledged to restore them.

Still, Betfred’s latest accounts registered with Companies House appear to show that physical stores still have a place among the British community, despite the continued use of online services. Indeed, online options have become much more favourable to bettors, as they are accessible 24/7, providing convenience and real-time value with updated markets and odds being delivered directly to their smartphones.

On top of this, online bookmakers are able to offer bonuses that are difficult to provide or match in-store. You only have to take a look at the Betting.co.uk offers that are available to see this, with many (including Betfred) offering welcome bonuses and sport-specific promotions for particular live events. Many of these can often be something that punters may not be able to claim when placing a wager in a physical store.

As per a report by The Racing Post, Betfred posted a post-tax profit of £39.6 million for the 2025-26 financial year. They recorded a turnover just shy of £1 billion at £996 million. When looking at the breakdown of the figures, it’s where their numbers become a little more interesting. The bookie revealed that they had a retail turnover of £544m, compared with £452m online.

Betting shops may not be in the clear

What’s more interesting is that it came from fewer shops. While the iGaming industry hasn’t escaped the financial pressures many high street retailers have faced and succumbed to, it appears to be in a good spot. In the reports filed, Betfred was operating 1,293 betting shops, down from the 1,351 it operated in the previous financial year.

However, if Burnham believes the high street has too many betting shops, there are fears that numbers as positive as those posted by Betfred may not stop them from leaving altogether.

Last year’s budget significantly impacted the gambling industry, with steep tax increases levied on it. The Remote Gaming Duty (tax on online slots and casino games) jumped from 21% to 40% in April, while the tax on online sports betting will increase to 25% from 15% in 2027 (horse racing stays at 15%).

New reports are suggesting the government is considering raising machine games duty (MGD) in this year’s budget, which has led Betfred owner Fred Done to claim it could lead to the closure of 495 of the company’s shops, with none left by 2030.

Earlier this year, Betfred “regrettably” ended its sponsorship of rugby league’s main competitions, a partnership that had been in place for a significant period. Done cited the tax rises (along with inflation) as a reason for taking the decision. He has also admitted they could withdraw sponsorship of the five British Classics if the budget isn’t favourable. 

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