A host of betting shops are at risk of pulling down their shutters for good in a key UK town ahead of the looming Autumn Budget. Gamblers and betting shop staff are waiting with bated breath as to whether three huge companies will close in Taunton.
Business leaders say that Labour’s decision to increase the National Insurance Contributions rate and increase in the National Minimum Wage has already put a huge strain on resources. The tax increase from 13.8% to 15% in April 2025 has placed a significant additional strain on businesses already struggling with mounting costs and economic uncertainty. Just last week Paddy Power announced that it will close 57 stores, putting 250 jobs at risk.
It is unknown at this time which stores will close, however, staff and customers alike fear the Taunton store on North Street could be earmarked for closure. A Paddy Power spokesperson said the action is taking place due to “increasing cost pressures and challenging market conditions”.
Paddy Power, which is owned by Flutter Entertainment, operates 608 betting shops across the UK and Ireland. The confirmed 57 closures represent around 10% of this estate, with owners warning that further tax rises from Rachel Reeves in her upcoming Autumn Budget could have “a significant impact on jobs and investment”.
In a further blow to the Somerset town, Betfred, which has a presence in East Street and North Street, said all 1,287 of its bookies could disappear from the UK high street if the Chancellor raises taxes on gambling firms in next month’s Autumn Budget.
The Institute for Public Policy Research (IPPR) think tank estimated over the summer that additional taxes on the gambling industry, as high as 50%, could raise £3.2bn.
A Betfred owner Fred Done said 300 outlets are already losing money and hiking taxes by 35% or more would wipe out profits. He added: “We would have to close down. I’m talking job losses.”
And in a devastating final sucker punch, William Hill, which has premises in East Reach in Taunton, warns that up to 200 of its shops could go if the industry is hit with higher taxes.
The debt-laden company behind William Hill is also considering closing up to 200 betting shops if Rachel Reeves’s Autumn Budget raises taxes on the gambling sector.
The gambling group behind William Hill is already planning to shut around one in ten of its betting shops across the UK in 2026.