Betfred Reports £39.6 Million Profit for Fiscal Year 2025-26

Betfred achieved a post-tax profit of £39.6 million in the financial year ending March 29, 2026, according to recently filed accounts. The company’s total turnover for the period was £996 million.

What Happened

Betfred recorded a profit after tax of £39.6 million for the 2025-26 financial year, as detailed in its latest accounts submitted to Companies House (Racing Post). The company’s turnover for the period, which concluded on March 29, reached £996 million, narrowly missing the £1 billion mark (Racing Post).

An analysis of the turnover figure indicates that Betfred’s retail betting shops continue to be a significant component of its business model. Retail operations generated £544 million in turnover, surpassing the £452 million contributed by online activities (Racing Post).

During the fiscal period, Betfred paid £147.4 million in betting duty and approximately £54.5 million in machine games duty (MGD). The government is reportedly considering an increase in MGD in the current year’s budget (Racing Post).

Key Details

• Betfred’s profit after tax for the 2025-26 financial year was £39.6 million (Racing Post).
• Total turnover for the year to March 29, 2026, was £996 million (Racing Post).
• Retail turnover amounted to £544 million, while online turnover was £452 million (Racing Post).
• The company operated 1,293 betting shops at the end of the accounting period, a decrease from 1,351 in the previous year (Racing Post).
• Betfred incurred £147.4 million in betting duty and nearly £54.5 million in machine games duty during the period (Racing Post).
• Employee costs increased by £19.2 million on a like-for-like basis, primarily due to national minimum wage and employer national insurance increases (Racing Post).
• Marketing costs for the online business contributed to administrative expenses but resulted in a £23.3 million rise in online turnover on a like-for-like basis (Racing Post).
• Betfred completed its withdrawal from the US market by ceasing operations in its final remaining state (Racing Post).

Why It Matters

The financial results highlight the continued importance of Betfred’s retail betting shop estate to its overall turnover, despite a general industry trend toward online growth. The reported profit occurred prior to the full impact of increased gambling taxes, including a near doubling of remote gaming duty, which had not yet taken effect during the covered period (Racing Post).

The owner, Fred Done, has indicated that a potential doubling of MGD in an upcoming budget could lead to the closure of 495 of the company’s shops and a complete withdrawal from the high street by 2030 (Racing Post). This perspective underscores the sensitivity of retail operations to regulatory changes and taxation levels.

The company also ended its longstanding sponsorship of rugby league’s main competitions and warned of potential withdrawal from British Classics sponsorship due to tax rises and wage inflation, reflecting a broader spending review in response to economic pressures (Racing Post).

What’s Next

Betfred owner Fred Done has issued warnings regarding the potential closure of additional betting shops if the government proceeds with a mooted doubling of Machine Games Duty in the upcoming budget (Racing Post). He has also indicated that the company might discontinue its sponsorship of the five British Classics should the budget introduce unfavorable MGD changes (Racing Post).

Originally reported by Racing Post·Published 12 Oct 2026, 14:00