Key Takeaways
- Betfair’s closure in Brazil brings further redundancies after its owner proposed up to 1,400 cuts in its UK and Ireland division.
- Flutter blames higher British gambling taxes for the UK and Ireland restructuring, while Brazil’s betting ban prompted its retreat there.
- The announcements show businesses cutting costs, although they do not establish a tax-driven withdrawal from Britain.
Betfair is closing its Brazilian operations as parent company Flutter Entertainment prepares to reduce its UK and Ireland workforce, extending a week of cuts for the gambling group.
The company confirmed the Brazilian closure to NEXT.io on Oct. 23, three days after announcing proposals for up to 1,400 redundancies across its UK and Ireland division.
Betfair Retreats From Brazil
Flutter plans to consolidate its Brazilian activities around Betnacional, preserving the local brand as it awaits clarity on the market’s future.
In its statement to NEXT.io, the company said:
“Flutter Brazil has decided to focus its activities on a single brand, Betnacional, which will result in the closure of Betfair’s operations in the country.”
The Brazilian decision follows the country’s prohibition on online betting, which had already interrupted Flutter’s operations.
The group also confirmed staff reductions without providing a headcount in Brazil.
Brazil’s Betting Ban Forced Operations to Stop
President Luiz Inácio Lula da Silva issued Provisional Measure 1,394 on Sept. 25, banning fixed-odds sports betting and online casino games, including services offered to Brazilians by offshore operators.
The measure also restricted advertising and sponsorships, stopped new deposits and established procedures for returning customers’ money.
Flutter confirmed on Sept. 28 that it had halted its Brazilian betting and casino business to comply.
“Flutter has ceased operating sports betting and iGaming in Brazil,” the company said in its response to the ban.
The group estimated that remaining offline for the rest of 2026 would reduce revenue by approximately $70 million and adjusted earnings before interest.
UK Tax Increases Put Jobs Under Pressure
Flutter’s separate restructuring announcement explicitly links its UK and Ireland cuts to gambling tax increases announced in the 2025 Autumn Budget.
The proposals affect locations including Leeds and Dublin, as well as employees supporting the division from Portugal and Romania.
This could result in up to 1,400 redundancies, subject to consultation, across the UK and Ireland division and its supporting overseas hubs.
Kevin Harrington, Flutter’s UK and Ireland chief executive, said:
“We cannot fully absorb a rise of this magnitude without reducing our fixed cost base.”
Flutter expects restructuring costs of $80 million to $90 million during the fourth quarter.
Are Rising Taxes Driving Firms Out?
The tax increases are substantial.
Remote Gaming Duty on online casino games rose from 21% to 40% in April 2026.
Most remote betting will face a 25% rate from April 2027, up from 15%, while online bets on UK horse racing remain excluded from that increase.
The government’s published rationale combines raising revenue with discouraging operators from promoting gambling products associated with greater harm.
HMRC says the policy aims to:
“disincentivise gambling companies from pushing consumers towards what are considered more harmful products.”
The commercial response is already visible beyond Flutter.
William Hill owner Evoke reported on Oct. 23 that around 270 shops had closed over the past year, alongside a 7% decline in quarterly revenue.
However, despite the cuts, Flutter says it continues to pursue growth in the British market.
Harrington said the group remained “well placed to benefit from share gains.”
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Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
