Betfred Founder Fred Done Predicts No Betting Shops Left by 2030
Betfred founder Fred Done has warned that Britain's high street betting shops could disappear entirely by 2030 if the government pushes ahead with further increases to gambling taxes.
"I believe that by 2030 we will have no betting shops," Done said, adding that "the high street will be dead" and taking aim at Prime Minister Andy Burnham's ambitions to revitalise Britain's high streets.
A Warning Rooted In Rising Costs
Done said rising taxes and wage costs have already made the economics of running physical shops increasingly difficult. "We've already worked it out that with the increases in taxes and salaries and other wages it won't be worth operating," he said.
The warning follows Betfred's decision in August to open a consultation on closing 132 shops and cutting more than 600 jobs, a move the company blamed on higher gambling taxes, rising employer National Insurance contributions and wage inflation.
Casino Games Hub
Part Of A Wider Retail Retreat
Betfred and its rivals have pointed to tax measures announced in last year's autumn budget, including an increase in remote gaming duty from 21% to 40% and a new 25% online sports betting duty due to apply from 2027.
Done, who co-founded Betfred with brother Peter Done in 1967, has previously called the tax rises the biggest threat to the industry in his 57 years in the business.
Betfred is not alone in scaling back its retail footprint: Paddy Power owner Flutter and William Hill owner Evoke have both closed dozens of shops over the past year as operators absorb higher costs.
What's Actually At Stake For The Chancellor
Done's comments come as the government presses ahead with plans to double Machine Games Duty to 40%, on top of the remote gaming duty rise already absorbed by online operators.
He argued the combined tax burden leaves little room for shops to remain profitable, particularly smaller, independent outlets that don't have the scale of the bigger operator estates.
The comments also came with a pointed jab at prime minister Andy Burnham's push to revive Britain's high streets, with Done suggesting betting shops - long a fixture of UK town centres - will be among the casualties of that agenda rather than a part of its solution if the tax rises go ahead.
