'Hundreds' of jobs will reportedly be axed at bet365 - including from the Stoke-on-Trent headquarters.

Today (8 September), The Sun reported that the betting firm will lose 300 jobs from the Stoke-on-Trent headquarters.

A further 40 are expected to be lost across bet365's Malta and Gibraltar offices - bringing the total to 340.

The bet365 headquarters in Stoke-on-Trent currently employs around 5,500 staff.

A spokesperson for the company stated that they are "planning a programme of voluntary redundancies".

The decision reportedly comes after the Labour government increased the Remote Gaming Duty from 21 per cent to 40 per cent in April this year.

In a media statement, a bet365 spokesperson said: "As an international business, we continually review and assess our operations to ensure the business' long-term future.

"We are currently facing a highly competitive trading environment, plus increased regulatory and tax-related costs.

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"As a result we are restructuring some of our locations this year.

"Ultimately, this will result in a reduction of approximately 340 roles across our European hubs, which is the equivalent of around three per cent of the workforce.

"We are committed to minimising the impact on our people and are exploring all avenues to reduce the number of redundancies.

"As a first step, we are planning a programme of voluntary redundancies.

"Our colleagues are our priority. We understand the concerns many will have. Impacted staff have been informed and are being fully supported throughout this process."

Nub News has approached bet365 for comment.