Key Takeaways

  • Betfred reported £995.6 million in turnover for the 52 weeks ended March 29, 2026.
  • Retail contributed 55% of turnover, down from 61% in the previous reporting period.
  • Like-for-like turnover increased by £23.3 million, while operating profit reached £74.1 million.
  • The accounts predate the latest increase in remote gaming duty and the planned tax rise on remote betting.

Betfred reported turnover of £995.6 million for the 52 weeks ended March 29, 2026, as its retail betting shops accounted for a smaller share of the business than in the previous reporting period. Retail operations made up 55% of turnover, down from 61%, while online operations accounted for the remaining 45%. The figures come from the company’s latest annual accounts, filed with Companies House in October.

However, the reported turnover is lower than the £1.5 billion recorded in the previous accounts, which covered 78 weeks after Betfred changed its financial year-end from September to March. The periods are therefore not directly comparable. On a like-for-like basis, turnover increased by £23.3 million, while operating profit reached £74.1 million.

Retail Accounts For 55% of Betfred Turnover As Online Share Grows

Betfred’s latest accounts show that retail betting shops remained the larger part of its business, although the gap between retail and online turnover narrowed during the year. Retail operations generated £544 million, while online operations contributed £451.7 million, according to the company’s results reported by iGaming Business.

Retail accounted for 55% of total turnover, compared with 61% in the previous reporting period. Online’s share rose accordingly to 45%. The figures indicate a change in the composition of Betfred’s business, but they do not, by themselves, show whether the shift resulted from more online customers, changes in customer spending, or differences in performance across the two divisions.

The comparison with the previous year’s figures also needs context. Betfred recorded turnover of approximately £1.46 billion in the 78 weeks ended March 30, 2025. The company changed its year-end from September to March, extending that reporting period. As a result, comparing the two headline totals without adjusting for the difference in their length would give a misleading picture of performance.

On a comparable basis, the company recorded a £23.3 million increase in turnover over 12 months. Betfred Group’s accounts filed with Companies House on October 9 provide the figures.

The results also show that Betfred continued to spend on attracting customers. The company increased marketing spending to attract new customers and gain market share. That spending is part of the wider cost picture, as the company operates both physical shops and online betting.

The narrower split between retail and online comes as UK gambling operators prepare for changes to taxation. However, the latest accounts cover a period ending in March 2026, meaning they do not capture the full financial effect of the subsequent increase in remote gaming duty.

Betfred Reports £74.1m Operating Profit As Costs And Tax Changes Loom

Betfred recorded operating profit of £74.1 million for the 52-week period, alongside gross profit of £719.9 million and EBITDA of £140.6 million. Operating profit included £4.6 million in costs related to an abandoned acquisition. The accounts also recorded £7.1 million in exceptional charges, including the acquisition costs and expenses associated with closing a foreign subsidiary.

Employee costs increased by £19.2 million on a like-for-like basis, despite a small decline in headcount. Betfred employed 7,795 people at the end of the period, compared with 7,872 a year earlier. The company attributed the higher employee costs in part to the increase in the UK’s national minimum wage.

Tax is another factor for the next reporting period. Betfred’s tax contributions fell to £24.4 million from £59.8 million in the previous period, although the different reporting lengths complicate direct comparison. The latest accounts also predate the increase in Remote Gaming Duty from 21% to 40%, which took effect on April 1, 2026. A separate 25% rate for remote betting is scheduled to take effect on April 1, 2027, excluding remote bets on UK horse racing. The government’s gambling duty policy sets out the changes.

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