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British online gambling company

Bet365 Group Ltd (commonly known and stylized as bet365 and spoken as "bet three-six-five") is a British 🏵 online gambling company based in the United Kingdom.

It was founded by Denise Coates, who remains the majority shareholder and joint-chief 🏵 executive alongside her brother, John.

Overview [ edit ]

Bet365 is an online gambling company offering sports betting and casino type games.

In 🏵 addition to the company headquarters in Stoke-on-Trent, Bet365 have further offices in Manchester, Gibraltar,[2] Malta,[3] Bulgaria and Australia.

The group employed 🏵 over 4,000 people as of 2020.[4][5]

Bet365 is a trading name of Hillside (New Media) Ltd.

[6] and operations including payments through 🏵 the affiliate programme[7] are carried out under that name.

History [ edit ]

Bet365 was founded in 2000 in a portable building[4] 🏵 in Stoke-on-Trent by Denise Coates.

Denise developed a sports betting platform and trading team to launch the business online in March 🏵 2001.

The business borrowed £15 million from Royal Bank of Scotland against the family's betting shop estate which had been started 🏵 by Peter Coates in 1974 and had been run by Denise Coates as managing director from 1995.

Bet365 sold its betting 🏵 shop chain in 2005 for £40 million to Coral and paid off its loan to RBS.[8]

Bet365 chairman Peter Coates was 🏵 also the chairman at Stoke City and in May 2012 Bet365 signed a three-year contract with the club to become 🏵 shirt sponsors.

[9] In April 2016, the company became the new title sponsors for the club's stadium for the next six 🏵 seasons, replacing fellow local enterprise the Britannia Building Society.

[10] In the summer of 2016, Bet365 also signed shirt sponsorship deals 🏵 with Bulgarian clubs Ludogorets Razgrad and Slavia Sofia for the upcoming two seasons.

[11][failed verification]

Bet365's reported figures (March 2020-21) showed revenues 🏵 of £2.

8 billion and a profit of £470 million before tax.[12]

Denise Coates, joint chief executive, continues to run Bet365 and 🏵 is the majority shareholder with 50.1% of the shares.

Her brother John, joint chief executive, runs the business alongside her, with 🏵 her father Peter holding the position of chairman.

In the summer of 2019, the largest UK bookmakers and online casino operators 🏵 William Hill, GVC Holdings, Flutter Entertainment, Stars Group and Bet365 entered into an agreement to transfer funds to combat gambling 🏵 addiction.

They agreed to increase the amount from 0.

1% to 1% of gross income in the next five years.

The initiative was 🏵 welcomed by a harm reduction group, but also received criticism for its perceived inadequacy; one MP described it as "a 🏵 bribe to appease campaigners and the UK government".[13]

Tax payment [ edit ]

At the end of the latest financial period, Bet365 🏵 official website Bet365 reported revenue of £3.

4 billion, as revealed by BetHub.

Compared to the previous fiscal year, there was a 🏵 2.

9 per cent increase in revenue.

As income tax in the UK comes back with profits, it is 45% for Bet365.[14]

For 🏵 2022, it is estimated that the company has paid £1.75 billion in tax.

Overseas operations [ edit ]

In 2018, shortly after 🏵 the U.S.

Supreme Court ruling on sports betting allowed U.S.

states to regulate sports betting, Bet365 announced plans to launch in the 🏵 United States starting with the state of New Jersey with a partnership with Hard Rock Hotel and Casino in Atlantic 🏵 City.

[15] The company would later announce in September 2021 that Bet365 will launch in Colorado with a licensing and revenue 🏵 share deal with Century Casinos.

Bet365 opened up operations in Colorado on 6 September 2022.[16][17]

In April 2022, Bet365 was also launched 🏵 in Ontario after it was approved by the Alcohol and Gaming Commission of Ontario to conduct sports betting activities in 🏵 the province following the passing of a new Canadian law that legalized single-game betting.[18]

Awards and achievements [ edit ]

At the 🏵 eGaming Review Operator Awards 2010 organised by eGaming Review magazine, Bet365 won the "Operator of the Year" award.

[19] Bet365 ranked 🏵 third in The Sunday Times Profit Track 100 league table, which ranks private companies in the UK based on profit 🏵 growth rate.

[20] Bet365 was also ranked as one of the fastest growing privately owned technology, media and telecoms companies in 🏵 The Sunday Times Tech Track 100 league table.

eGaming Review magazine has ranked Bet365 the number one Internet gaming company in 🏵 2010, 2011 and 2012 as part of its annual Power 50 list of the top 50 most influential Internet gaming 🏵 companies.

[21] Denise Coates, founder and joint CEO of Bet365, received a CBE in the 2012 Queen's new year honours list 🏵 for services to the community and business.

[22] In February 2013 Denise Coates was named as one of the 100 most 🏵 powerful women in the United Kingdom by Woman's Hour at BBC Radio 4.[23]

In December 2022, Bet365 won the coveted SBC 🏵 Bookmaker of the Year for the third consecutive year.

Controversies [ edit ]

In October 2014, The Guardian newspaper reported that the 🏵 company had been taking bets from Chinese citizens by using obscure domain names in order to avoid government web censorship.[24]

In 🏵 2016, Bet365 was fined $2.

75 million AUD by the Australian Competition & Consumer Commission for misleading advertisements which falsely promised 🏵 "free bets" to customers.[25]

Denise Coates became the highest paid executive in the UK in 2017, awarding herself a salary of 🏵 £217m.

[26] In 2018, her pay packet rose to £265m as the company reported profits up 31% to £660m, prompting criticism 🏵 from problem gambling charity groups.

[27] In January 2019, Bet365 ranked second on The Sunday Times list of the UK's top 🏵 taxpayers, with the Coates family – Denise, John and Peter – paying an estimated total tax of £156 million, of 🏵 which £99 million was paid by Denise alone.[28]

Further criticism highlights repeated cases of Bet365 delaying or outright denying payment to 🏵 winning players.

For example, Bet365 was taken to court for refusing to pay over £1 million in winnings to a horse 🏵 bettor in Northern Ireland in 2017.

[29] The company refused a payout of £54,000 to a customer in England in 2016, 🏵 a case which is still ongoing as of 2017.

[30][31] In Australia, Bet365 froze the account of a punter who had 🏵 won around $200,000 AUD in 2016, refusing to pay out.

[32] These are just some of the most noteworthy instances; several 🏵 more cases of Bet365 refusing to pay winnings have been reported by gamblers on Internet gambling forums.[33][34]

Although gambling is illegal 🏵 in most jurisdictions of India, Bet365 nonetheless conducted surrogate advertising in the country.

India's consumer affairs ministry served notices to various 🏵 television channels and apps for promoting gambling companies and asked them to stop showing ads from Bet365 and other betting 🏵 platforms immediately.[35]Media [ edit ]

In the UK, the face of Bet365, since 2010, has been actor Ray Winstone.[36]

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