Betfred reported £995.6 million in turnover for the 52 weeks to 29 March 2026, but profit after tax was £39.6 million. The figures reveal a large bookmaker operating on a narrow final margin as taxes rise and its high-street footprint contracts.

Betfred Group filed the accounts at Companies House on 9 October 2026. The filing covers 52 weeks. The previous comparison covered 78 weeks, so the headline year-on-year change is not a clean comparison.

A large business with a thin final margin

The group reported £720 million in gross profit and £39.6 million in profit after tax. That gives it a post-tax margin of about 4% of turnover.

Turnover is the money recorded from the group’s operations. It is not the same as profit, gross gambling yield or customer stakes.

Betfred’s accounts show a business close to the £1 billion mark, but only a small share remained after operating costs, tax, finance costs and other charges.

Retail still provides the biggest share

Betfred recorded £544 million in retail betting turnover from 1,293 shops. That represented about 55% of the group’s reported turnover for the period.

The shop estate was smaller than in the previous filing, when Betfred reported 1,351 shops. The different accounting periods mean the figures cannot be treated as a straightforward 12-month trend.

Online gambling turnover reached £451.7 million for the 52 weeks. According to SBC News, Betfred also reported £110.4 million in capitalised development costs and £22.1 million in research and development spending.

  • Retail betting turnover: £544 million
  • Online gambling turnover: £451.7 million
  • Retail shops: 1,293
  • Capitalised development costs: £110.4 million
  • Research and development spending: £22.1 million

Tax pressure is arriving in stages

The accounts cover a period before the full effect of the latest remote gambling tax changes. Remote Gaming Duty rose from 21% to 40% for accounting periods beginning on or after 1 April 2026.

A separate 25% rate for remote betting will apply from 1 April 2027. Under the government’s published rules, that new rate excludes remote bets on UK horseracing, bets placed through self-service betting terminals, pool betting and spread betting.

The measures target different parts of the market. The higher Remote Gaming Duty applies to remote gaming profits. The future remote betting rate applies to bookmaker profits from qualifying online bets.

Shops and jobs face the next test

SBC News reported that Betfred plans to close a further 132 shops later in 2026, with up to 600 jobs potentially affected. The company remains a major presence on Britain’s high streets, but the accounts show why its retail model is under review.

Retail still generates more than half of reported group turnover, while the online business is approaching the same scale. That leaves Betfred balancing shop rents and staffing costs against continued investment in digital gambling.

The filing does not show that retail betting is finished. It shows a profitable UK bookmaker with a narrow final margin, a shrinking shop estate and an online operation responsible for almost half of reported turnover. Higher duties and the value of each remaining shop will help determine how quickly that balance changes.