Business · Companies · 1 day ago
Flutter plans to cut up to 1,400 jobs after UK gambling tax rises
Flutter plans to cut up to 1,400 jobs across its UK and Ireland business.
The company owns Paddy Power, Betfair and Sky Bet, and employs about 9,000 people in the UK and Ireland.
The affected workers include staff in Leeds and Dublin, as well as British and Irish employees at sites in Portugal and Romania; the roles at risk have not been disclosed.
The plans are still subject to consultation, so the cuts have not been finalised.
Flutter says last year's UK tax increases on online gambling changed the economics of the industry and that it cannot absorb the full cost without reducing spending.
The tax on online casino games rose from 21% to 40% earlier this year, and the tax on online bets is due to rise from 15% to 25% next April.
Flutter says the tax rises are driving the restructuring, while arguing they also encourage unlicensed gambling; the company says the changes will significantly affect the market.
Flutter plans to cut up to 1,400 jobs in its UK and Ireland business.
The cuts will affect staff in the UK and Ireland, including British and Irish workers at company hubs in Portugal and Romania.
Flutter said the proposed cuts follow UK gambling tax increases announced in last year’s Budget.
The plans are subject to consultation, and the company has not disclosed which roles are at risk.
Flutter employs around 9,000 people in the UK and Ireland.
- Who
- Flutter, which owns Paddy Power, Sky Bet and Betfair, plans the cuts.
- What
- It plans to cut up to 1,400 jobs in its UK and Ireland business.
- When
- The plans were announced on Tuesday, 20 October 2026.
- Where
- The cuts affect staff in the UK and Ireland, including British and Irish workers at hubs in Porto, Portugal, and Cluj-Napoca, Romania.
- Why
- Flutter says it needs to reduce costs after UK gambling tax increases.
This story does not have two clearly opposing sides.
The UK government announced gambling tax increases in its Budget.
The rate of remote gaming duty increased from 21 per cent to 40 per cent.
Flutter announced plans to cut up to 1,400 jobs, subject to consultation.
A new 25 per cent rate of general betting duty for online bets is due to take effect, up from 15 per cent.
- Proposed job cuts
- Up to 1,400
- UK and Ireland workforce
- Around 9,000
- Affected company hubs
- Leeds and Dublin; Porto, Portugal; Cluj-Napoca, Romania
- Remote gaming duty
- Increased from 21 per cent to 40 per cent
- Restructuring cost estimate
- US$80 million to US$90 million
6 sources
Paddy Power owner blames tax rises for plan to shed up to 1,400 jobs
Flutter to cut more than 1,000 jobs after UK gambling tax raid
Paddy Power owner Flutter unveils cuts to 1,400 jobs after UK gaming tax hike
Paddy Power cuts 1,400 jobs and blames betting tax rises
Paddy Power owner to axe 1,400 jobs after UK tax hikes
Paddy Power owner Flutter axes 1,400 jobs blaming Labour's gambling tax hikes
What people are saying
The material increase in betting and gaming duties announced in the UK budget last year has fundamentally changed the economic model of the regulated betting and gaming industry in the UK while helping to fuel the unlicensed, unregulated market.
As we warned a year ago, we cannot fully absorb a rise of this magnitude without reducing our fixed cost base and therefore must restructure our business so that we can best position ourselves for the future.
We remain confident that we are well placed to benefit from share gains given our position as the largest scale operator in the UK.