The head of William Hill’s parent company has warned that thousands of jobs across the UK are now at risk following a major increase in gambling taxes announced in the latest Budget.
Shares in Evoke, which owns William Hill, fell as much as 8% to a record low after Chancellor Rachel Reeves announced that the duty on online gaming would rise from 21% to 40%, nearly doubling the previous rate. The levy on online sports betting will increase from 15% to 25%, while the rate for high-street betting shops will remain at 15%.
Per Widerström, chief executive of Evoke, said the company would have to make significant cuts to investment and staffing in the UK. “We will begin immediately on executing our mitigation plans, which involve a significant reduction in investment into the UK,” he said. “And, very regrettably, the likely need for thousands of jobs to be cut up and down the country.”
Evoke operates around 1,300 high-street betting shops across the UK, along with a large online gaming division. The warning underscores growing concern in the gambling industry, where operators say the scale of the tax increase threatens profitability and could undermine investment in the sector.
The company had already been facing pressures from higher regulatory costs and reduced consumer spending. Analysts say the sudden jump in online gaming duty could prompt other operators to reduce expenditure in the UK or shift investment overseas, particularly given that online gaming now accounts for a significant portion of industry tax receipts.
Industry representatives have criticized the move as a threat to the viability of both high-street and digital operations. Retail betting shops, already challenged by declining footfall, could face accelerated closures, while online platforms may struggle to maintain margins under the higher levy.
The Treasury defended the increase, saying the move ensures a “fairer contribution” from digital betting platforms, which have grown rapidly in recent years. However, industry leaders argue that the scale and sudden timing of the hike risks job losses and could weaken the UK’s gambling sector overall.
The announcement adds to wider uncertainty for the high-street betting market, which has already been affected by changing consumer habits, regulatory pressures, and competition from overseas operators. For Evoke, the company faces a critical period as it assesses the full impact of the tax changes on its operations and workforce.
With online gaming now a key revenue driver for the industry, the Chancellor’s decision has sparked alarm that the combination of higher taxes and existing challenges may force operators to reconsider their long-term presence in the UK market.
