Flutter, the gambling giant behind Paddy Power, Sky Bet, Betfair and Tombola, is cutting around 1,400 jobs across its UK and Ireland business, blaming steep increases in gambling taxes.

The cuts represent about 15% of the division's roughly 9,000-strong workforce. Up to 550 redundancies are expected in the UK and 240 in Ireland, with roles affected in Leeds, Sunderland, London and Dublin, as well as at company hubs in Porto and Cluj-Napoca. The restructuring was confirmed in Flutter's third-quarter update on 4 November 2026.

Tax rise behind the cuts

Flutter blames the rise in remote gaming duty, the tax on online casino games and slots, from 21% to 40%, which the company has said will cost it just over £400 million in 2027. Flutter UK and Ireland chief executive Kevin Harrington said the industry "cannot fully absorb a rise of this magnitude without reducing our fixed cost base".

Pressure is set to grow further. The levy on online sports betting rises from 15% to 25% next April, and machine games duty increases from 20% to 25% from the same month. The Betting and Gaming Council estimates around 12,400 jobs in the sector have already been lost or put at risk since last year's Budget. A separate review of 100 Paddy Power shops is expected to lead to a further 400 job cuts.

Losses widen in third quarter

Flutter reported a third-quarter net loss of $1.15 billion, up from $789 million a year earlier, after an $873 million write-down on its Brazilian business, which was hit by a betting ban. The group also cut its full-year guidance. UK and Ireland revenue rose 4% to $889 million. Chief executive Dan Taylor said the restructuring "right-sizes the UKI business going forward" for the post-tax-rise environment.