Global betting giant bet365 has confirmed plans to cut around 340 jobs across the UK, Malta and Gibraltar in response to increased tax and regulatory costs.
The UK bookmaker and online casino, which operates across much of Europe as well as the likes of the USA, Brazil and Australia, has been subjected to the increase in remote gaming duty from 21% to 40%, while a new remote betting duty – which will raise the effective tax rate on all sports betting products from 15% to 25% - is set to be introduced in 2027.
