Paddy Power are set to close their branch at Michael Street, Waterford as part of 21 closures which were announced nationwide.
Paddy Power are to close 21 of its betting shops around the country after a review of its operations.
The company, which is owned by Flutter Entertainment, said the 78 workers employed in the shops will be offered redeployment opportunities across its remaining shops and in close proximity to their existing jobs.
However, they added that the closures will unfortunately lead to "a small number" of job losses.
"We are consulting closely with colleagues and providing support to those affected by these changes," Paddy Power said.
The shops to close are in Dominick Street in Galway, Skibbereen, Terenure, Greenhills, Stoneybatter, Goatstown, Dalkey, Old Bawn, Westgate Road in Clonmel, Cloghran, Michael Street in Waterford, Kilkenny, Rathdrum, Templemore, Kells, New Ross, Athy, Parkgate Street, Blackrock, Ennis and Dillon's Cross in Cork.
After the closures the company will still operate a total of 230 shops around the country.
David Newton, Chief Commercial Officer of Paddy Power, said that as with all businesses in the retail sector, the company regularly reviews its estate to ensure it is operating efficiently and meeting the evolving needs of its customers.
"A well invested retail estate remains a key component of our omnichannel strategy," he said.
He said that while the majority of its shops continue to perform well and are growing market share, the company has decided to close a number of "underperforming" shops.
"This is absolutely no reflection on our hard-working shop colleagues, and I would like to thank them for their service and professionalism during this difficult time", Mr Newton said.
"We are in contact with all affected colleagues and our focus is very much on providing support to those who may be impacted by the changes," he added.
