Betfred reports £995.6m turnover as retail shops remain biggest contributor
Shops brought in £544m of turnover in the 52 weeks to 29 March 2026, against £451.7m online, according to the Companies House filing.
By Theo Vance, Affiliates and operators editor
- Turnover came to £995.6m in the 52 weeks to 29 March 2026, according to Betfred's Companies House filing.
- Gross profit was £720m and profit after tax was £39.6m in the 52-week period.
- Retail betting shops generated £544m of turnover from 1,293 shops, down from 1,351 a year earlier.
- Online gambling turnover reached £451.7m, against £563.6m over the prior 78-week reporting period.
- In July Betfred confirmed that 132 shops are to shut ahead of the end of 2026, which puts as many as 600 jobs at risk.
Betfred's filing with Companies House shows turnover of £995.6m across the 52 weeks to 29 March 2026, with retail betting remaining the largest contributor.
The accounts are the bookmaker's last annual report before the increase in Remote Gaming Duty (RGD) in April.
What happened
The filing shows gross profit of £720m and a post-tax profit of £39.6m for the 52-week period. Both are well under the previous report's gross profit of £1.07bn and profit after tax of £128.8m. That earlier report covered 78 weeks rather than 52, so comparisons between the two periods are complicated.
| Measure | 52 weeks to 29 March 2026 |
|---|---|
| Turnover | £995.6m |
| Gross profit | £720m |
| Profit after tax | £39.6m |
| Retail turnover | £544m |
| Online gambling turnover | £451.7m |
Retail betting shops generated £544m of turnover from 1,293 shops. A year earlier the company operated 1,351. In July, Betfred confirmed plans to shut 132 shops by the end of 2026, with up to 600 jobs at risk.
Online gambling turnover was £451.7m in the period. The previous 78-week reporting period showed £563.6m, and the 2022-23 financial year showed £197m.
The company kept spending on technology. Capitalised development costs rose to £110.4m, and a further £22.1m went to research and development covering software platforms, data analytics and mobile products.
Staff costs increased by £19.2m when measured over a comparable 12 months, even though headcount fell from 9,622 to 9,463. Betfred attributed the increase to higher National Minimum Wage rates and employers' National Insurance contributions.
Founder and chairman Fred Done, who stepped down as chief executive in 2021, has claimed that doubling Machine Games Duty (MGD) in Britain, as proposed, could eliminate Betfred's shop business by 2030. Betfred has stopped being the title sponsor of rugby league's Super League. Done has said it would also withdraw sponsorship of all five British Classics if MGD were doubled.
Why it matters
Operators with retail estates could need to check their cost and estate plans against the MGD proposal, alongside wage and National Insurance increases. Betfred's accounts show higher wage and National Insurance costs, and its shops still produce more turnover than its online arm.
Affiliates and media buyers working with UK-licensed brands should check how far partners' marketing and sponsorship budgets could be affected. Done has tied a possible withdrawal of Classics sponsorship to the MGD debate, and the company's online investment suggests it is prioritising digital products.
The filing also covers only the period before the RGD increase in April. Operators and affiliates comparing UK online economics are likely to need later accounts to see how the higher duty feeds through to results and revenue-share arrangements.
Because the previous report spanned 78 weeks, year-on-year comparisons of profit and online turnover are likely to mislead unless adjusted for period length.
What's next
The 132 shop closures are due before the end of 2026. Betfred approaches its 60th anniversary next year, and its filing shows it has continued to expand its online business.
Sources
- 1.Betfred reports strong results with retail betting still the biggest contributor · Focus Gaming News (focusgn.com), accessed 12 Oct 2026Primary
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