Published by Michele Maatouk on 20th October 2025
(Sharecast News) - Betfred has said it will close all 1,287 of its high street betting shops if Rachel Reeves raises taxes on the gambling industry in next month's budget. The company's threat comes amid speculation that the chancellor is considering a tax increase worth up to £3.2bn on sports betting to help to close a potential £30bn shortfall in the public finances. Betfred said such a tax increase would ultimately force all its shops to close, putting 7,500 jobs at risk. - Guardian