Betfred Deemed UK’s Biggest Taxpayer; Bet365 Contributes Too

Betfred has created history by topping the UK tax list for the first time. According to a study carried out by The Sunday Times, Betfred contributed £400 million to the public coffers, surpassing celebrities, such as Harry Styles and Anthony Joshua.

The 2026 tax list represented the eighth edition of the study, and showed that Betfred, owned by brothers Fred and Peter Done, is doing its bit for the gambling industry. Indeed, the same could also be said of bet365, which rounded off the top five.

Pulling their weight

Before November’s budget announcement, the Chancellor, Rachel Reeves, insisted betting companies needed to pay their ‘fair share of tax’. Betfred certainly proved this to be the case, and they outlayed almost £70m more than the second person on this list - Alex Gerko, a Moscow-born maths genius turned trader (£331.4m).

The Done brothers, who opened up their first UK shop in 1967 on the back of a successful wager for England to win the World Cup, previously admitted they have no intention of setting up business elsewhere. Although the budget suggested they could sell off their retail empire, their recent financial results covering up to the end of March 2025, indicated they made £128.8m in profit after tax.

Reaffirming their British ties, Peter Done said:

“We owe this country. I feel there is an obligation for people that have made money in that country to pay tax in that country. Fred and myself are stopping here.”

Bet365 making a difference too

Betfred paid out nearly £200m in gambling duty in 2024/25, and a further £14m in gambling rates. But Betfred wasn’t alone in paying large sums of tax. No, bet365 also seems to be making a difference too.

Last year, bet365, which is owned by the Coates family, coughed up over £220m in taxes. While Denise Coates, who is Britain’s richest self-made woman, paid herself a salary of £104.3m last year, bet365 is one of the country’s most respected operators.

In terms of calculating the tax list, the rankings included corporation tax, dividend tax, capital gains tax, income taxes, and payroll taxes, and, in the case of betting companies, gambling duties. These were calculated in conjunction with ownership of the company in question.

Budget debate rumbles on

Evidently, Reeves’ budget didn’t prove popular with those in the betting industry. A rise in Remote Gaming Duty (RGD) on online casino betting and online sports betting are set for significant rises as of April this year and April 2027.

Although Betfred and bet365 seem to be cushioning the blow, other sites have uneasy terrain to negotiate. This includes William Hill, who recently announced their fourth quarter (Q4) results for 2025, indicating revenues of £464m, albeit a statement from Evoke CEO, Per Widerström, conceded shop closures are inevitable.

It read:

“We continue to believe these tax increases will negatively impact the industry’s economic contribution, customer protection, and will ultimately serve to support further growth in the illegal black market.

“We have moved quickly and decisively to execute on our mitigation plans, including the closure of retail stores that are no longer sustainable as well as broader cost savings, and we will update shareholders on our progress and updated strategic plan in due course.”

Keeping the black market at bay

There have been grave concerns expressed about the surge of the black market. However, as far as Betfred and bet365 are concerned, the regulated industry is robust enough to stymie the number of players signing up for illegal gambling sites.