{"id":75420,"date":"2026-01-06T18:00:02","date_gmt":"2026-01-06T18:00:02","guid":{"rendered":"https:\/\/www.sportscasting.com\/uk\/?p=75420"},"modified":"2026-01-06T18:00:02","modified_gmt":"2026-01-06T18:00:02","slug":"betfred-returns-to-profitability-2025","status":"publish","type":"post","link":"https:\/\/www.sportscasting.com\/uk\/news\/betfred-returns-to-profitability-2025\/","title":{"rendered":"Betfred Returns To Profitability In Face Of UK Gambling Tax Hike"},"content":{"rendered":"<p><strong>Betfred have taken a huge step back into profitability after walking away from some of the firm\u2019s overseas ventures.<\/strong><\/p>\n<p>It comes at the start of a year in which the betting industry is bracing itself for the first of Chancellor Rachel Reeves\u2019 gambling tax hikes.<\/p>\n<p>The <a href=\"https:\/\/find-and-update.company-information.service.gov.uk\/company\/07717019\/filing-history\">UK bookmaker\u2019s latest set of accounts<\/a> filed at Companies House this week shows a profit after tax of \u00a3128.9 million for the 78-week period up to March 30, 2025.<\/p>\n<p>That is a marked turnaround from the \u00a371.7 million loss which was reported in the previous 53-week period.<\/p>\n<p>The reason for the difference in time spans is that Betfred changed its year-end date to March after its previous figures ran up to October 1, 2023.<\/p>\n<h2>Preparing For UK Gambling Tax Hikes<\/h2>\n<p>It is a significant improvement in fortunes at a time when the UK betting landscape is uncertain.<\/p>\n<p>From April 1, <a href=\"https:\/\/www.sportscasting.com\/uk\/news\/remote-gaming-duty-uk-budget-2025\/\">Remote Gaming Duty will increase from 21% to 40%<\/a>, with General Betting Duty scheduled to go up from 15% to 25% in April next year.<\/p>\n<p>The changes could hit the UK industry to the tune of \u00a31.6 billion a year from 2027.<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-medium wp-image-75424\" src=\"https:\/\/www.sportscasting.com\/uk\/wp-content\/uploads\/sites\/3\/2026\/01\/Fred-Done-co-founder-of-Betfred-560x315.jpg\" alt=\"Fred Done, co-founder of Betfred\" width=\"560\" height=\"315\" srcset=\"https:\/\/www.sportscasting.com\/uk\/wp-content\/uploads\/sites\/3\/2026\/01\/Fred-Done-co-founder-of-Betfred-560x315.jpg 560w, https:\/\/www.sportscasting.com\/uk\/wp-content\/uploads\/sites\/3\/2026\/01\/Fred-Done-co-founder-of-Betfred-924x520.jpg 924w, https:\/\/www.sportscasting.com\/uk\/wp-content\/uploads\/sites\/3\/2026\/01\/Fred-Done-co-founder-of-Betfred-350x197.jpg 350w, https:\/\/www.sportscasting.com\/uk\/wp-content\/uploads\/sites\/3\/2026\/01\/Fred-Done-co-founder-of-Betfred-768x432.jpg 768w, https:\/\/www.sportscasting.com\/uk\/wp-content\/uploads\/sites\/3\/2026\/01\/Fred-Done-co-founder-of-Betfred-1536x864.jpg 1536w, https:\/\/www.sportscasting.com\/uk\/wp-content\/uploads\/sites\/3\/2026\/01\/Fred-Done-co-founder-of-Betfred.jpg 1920w\" sizes=\"(max-width: 560px) 100vw, 560px\" \/><\/p>\n<p>Betfred co-founder and chairman Fred Done has already warned that spiralling costs could lead to shop closures among its stable of 1300 retail outlets.<\/p>\n<p>It is also putting up to 7,500 jobs at risk.<\/p>\n<p>He has not been alone in that assessment, with <a href=\"https:\/\/www.sportscasting.com\/uk\/news\/william-hill-could-be-sold-as-owner-evoke-feels-the-bite-of-new-uk-gambling-tax-laws\/\">William Hill owner Evoke<\/a> fearing \u201cthousands of jobs\u201d could be lost.<\/p>\n<h2>Once Upon A Time In America<\/h2>\n<p>An important strategic measure was Betfred\u2019s withdrawal from the US marketplace as well as offloading operations in Spain.<\/p>\n<p>The sportsbook specialist operated across 10 US states at its peak including Washington, Nevada and Colorado.<\/p>\n<p>Betfred withdrew from its last surviving outpost in Pennsylvania in July 2025, bringing an end to its activity in the US.<\/p>\n<p>During the same reporting period, Betfred Spain was sold for \u00a32 million.<\/p>\n<p>That deal in September 2024 generated a \u00a31.6 million profit for the company.<\/p>\n<h2>Expanding In South Africa<\/h2>\n<p>While it no longer has interests in the US or Spain, Betfred has improved its foothold in South Africa.<\/p>\n<p>A significant move was the acquisition of a local holding company that owns BF SA Support Services.<\/p>\n<p>That firm is the service provider to Betfred\u2019s South African business.<\/p>\n<p>The UK bookmaker also holds a majority stake in Lotto Star, South Africa\u2019s largest online betting company.<\/p>\n<h2>Successful Launch Online<\/h2>\n<p>Betfred\u2019s strategic summary confirmed development costs of its online platform which ran to \u00a388.3 million.<\/p>\n<p>The platform welcomed new sign-ups from December 2023 and was fully available to all customers from the start of 2024.<\/p>\n<p>Its net book value is now included among the company\u2019s intangible assets and is recorded as \u00a384.6 million.<\/p>\n<p>\u201cBy embedding innovation into our core operations, we ensure we remain adaptable and resilient in a dynamic marketplace,\u201d said Betfred\u2019s summary.<\/p>\n<p>\u201cOngoing R&amp;D investment not only drives long-term value creation but also reinforces the group\u2019s position as a leader in delivering cutting-edge, responsible, and entertaining betting solutions.\u201d<\/p>\n<h2>The Numbers Game<\/h2>\n<p><img decoding=\"async\" class=\"alignnone size-medium wp-image-75425\" src=\"https:\/\/www.sportscasting.com\/uk\/wp-content\/uploads\/sites\/3\/2026\/01\/Betfred-March-2025-figures-560x208.jpg\" alt=\"Betfred March 2025 figures\" width=\"560\" height=\"208\" srcset=\"https:\/\/www.sportscasting.com\/uk\/wp-content\/uploads\/sites\/3\/2026\/01\/Betfred-March-2025-figures-560x208.jpg 560w, https:\/\/www.sportscasting.com\/uk\/wp-content\/uploads\/sites\/3\/2026\/01\/Betfred-March-2025-figures-924x343.jpg 924w, https:\/\/www.sportscasting.com\/uk\/wp-content\/uploads\/sites\/3\/2026\/01\/Betfred-March-2025-figures-350x130.jpg 350w, https:\/\/www.sportscasting.com\/uk\/wp-content\/uploads\/sites\/3\/2026\/01\/Betfred-March-2025-figures-768x285.jpg 768w, https:\/\/www.sportscasting.com\/uk\/wp-content\/uploads\/sites\/3\/2026\/01\/Betfred-March-2025-figures.jpg 1133w\" sizes=\"(max-width: 560px) 100vw, 560px\" \/><\/p>\n<p>Turnover for the 78 weeks to March 30, 2025, amounted to \u00a31.46 billion.<\/p>\n<p>Betfred&#8217;s betting shops generated \u00a3894.8 million in turnover, while online contributed a further \u00a3563.6 million.<\/p>\n<p>Earnings before interest, taxation, depreciation and amortisation (EBITDA) rose to \u00a3294 million, up from the previously reported figure of \u00a3117 million.<\/p>\n<p>A healthy pre-tax profit of \u00a3188.7 million lost around \u00a359.8 million allocated for tax costs.<\/p>\n<p>That produced a profit of \u00a3128.8 million but Betfred also noted the effects of negative foreign exchange rates (\u00a312.8 million) and an adjustment to its pension liabilities (3.4 million).<\/p>\n<p>That gives an estimated bottom-line net profit of \u00a3112.6 million for the 78-week period.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Betfred have taken a huge step back into profitability after walking away from some of the firm\u2019s overseas ventures. It comes at the start of a year in which the betting industry is bracing itself for the first of Chancellor Rachel Reeves\u2019 gambling tax hikes. The UK bookmaker\u2019s latest set of accounts filed at Companies [&hellip;]<\/p>\n","protected":false},"author":457,"featured_media":75421,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[2039],"tags":[2154,2157,2158,2156,2155],"class_list":["post-75420","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-betting-news","tag-betfred","tag-fred-done","tag-gambling-industry","tag-gambling-tax-hikes","tag-uk-gambling-tax"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Betfred Returns To Profitability In Face Of UK Gambling Tax Hike<\/title>\n<meta name=\"description\" content=\"Betfred have taken a huge step back into profitability for the year ending March 2025 after exiting the US and selling its Spanish 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Munro","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.sportscasting.com\/uk\/wp-content\/uploads\/sites\/3\/2025\/12\/avatar_user_457_1765214917-96x96.jpg","url":"https:\/\/www.sportscasting.com\/uk\/wp-content\/uploads\/sites\/3\/2025\/12\/avatar_user_457_1765214917-96x96.jpg","contentUrl":"https:\/\/www.sportscasting.com\/uk\/wp-content\/uploads\/sites\/3\/2025\/12\/avatar_user_457_1765214917-96x96.jpg","caption":"Jim Munro"},"description":"Jim Munro has been a sports journalist for over 30 years, working as a reporter and Football Editor of The Sunday Times through four World Cups and four European Championships, before moving to The Sun as its Digital Sports Editor. As well as gaining exclusive interviews across Football, Boxing and Formula 1, he has extensive knowledge of the sports gambling industry and worked on the launch of Virgin Bet with Gamesys, ahead of spending five years as Head of Editorial at LiveScore. Jim served as a committee member of the Sports Journalists' Association for four years and had a column 'Speaking Personally' in West Ham's match programme for several seasons. He is a regular contributor to sports podcasts including Stop! Hammer Time.","sameAs":["https:\/\/www.instagram.com\/jim_munro\/","https:\/\/www.linkedin.com\/in\/jim-munro-munromedia\/","https:\/\/uk.pinterest.com\/JamesMunro\/","https:\/\/x.com\/https:\/\/x.com\/JimMunro","https:\/\/www.youtube.com\/@BadLadDad","https:\/\/en.wikipedia.org\/wiki\/Jim_Munro_(journalist)"],"url":"https:\/\/www.sportscasting.com\/uk\/author\/jimmunro\/"}]}},"_links":{"self":[{"href":"https:\/\/www.sportscasting.com\/uk\/wp-json\/wp\/v2\/posts\/75420","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sportscasting.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sportscasting.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sportscasting.com\/uk\/wp-json\/wp\/v2\/users\/457"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sportscasting.com\/uk\/wp-json\/wp\/v2\/comments?post=75420"}],"version-history":[{"count":4,"href":"https:\/\/www.sportscasting.com\/uk\/wp-json\/wp\/v2\/posts\/75420\/revisions"}],"predecessor-version":[{"id":75427,"href":"https:\/\/www.sportscasting.com\/uk\/wp-json\/wp\/v2\/posts\/75420\/revisions\/75427"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.sportscasting.com\/uk\/wp-json\/wp\/v2\/media\/75421"}],"wp:attachment":[{"href":"https:\/\/www.sportscasting.com\/uk\/wp-json\/wp\/v2\/media?parent=75420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sportscasting.com\/uk\/wp-json\/wp\/v2\/categories?post=75420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sportscasting.com\/uk\/wp-json\/wp\/v2\/tags?post=75420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}