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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 1️⃣ online gambling company based in the United Kingdom.

It was founded by Denise Coates, who remains the majority shareholder and joint-chief 1️⃣ executive alongside her brother, John.

Overview [ edit ]

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

In 1️⃣ 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 1️⃣ 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 1️⃣ the affiliate programme[7] are carried out under that name.

History [ edit ]

Bet365 was founded in 2000 in a portable building[4] 1️⃣ in Stoke-on-Trent by Denise Coates.

Denise developed a sports betting platform and trading team to launch the business online in March 1️⃣ 2001.

The business borrowed £15 million from Royal Bank of Scotland against the family's betting shop estate which had been started 1️⃣ by Peter Coates in 1974 and had been run by Denise Coates as managing director from 1995.

Bet365 sold its betting 1️⃣ shop chain in 2005 for £40 million to Coral and paid off its loan to RBS.[8]

Bet365 chairman Peter Coates was 1️⃣ also the chairman at Stoke City and in May 2012 Bet365 signed a three-year contract with the club to become 1️⃣ shirt sponsors.

[9] In April 2016, the company became the new title sponsors for the club's stadium for the next six 1️⃣ seasons, replacing fellow local enterprise the Britannia Building Society.

[10] In the summer of 2016, Bet365 also signed shirt sponsorship deals 1️⃣ with Bulgarian clubs Ludogorets Razgrad and Slavia Sofia for the upcoming two seasons.

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Bet365's reported figures (March 2020-21) showed revenues 1️⃣ of £2.

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

Denise Coates, joint chief executive, continues to run Bet365 and 1️⃣ is the majority shareholder with 50.1% of the shares.

Her brother John, joint chief executive, runs the business alongside her, with 1️⃣ her father Peter holding the position of chairman.

In the summer of 2019, the largest UK bookmakers and online casino operators 1️⃣ William Hill, GVC Holdings, Flutter Entertainment, Stars Group and Bet365 entered into an agreement to transfer funds to combat gambling 1️⃣ addiction.

They agreed to increase the amount from 0.

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

The initiative was 1️⃣ welcomed by a harm reduction group, but also received criticism for its perceived inadequacy; one MP described it as "a 1️⃣ bribe to appease campaigners and the UK government".[13]

Tax payment [ edit ]

At the end of the latest financial period, Bet365 1️⃣ official website Bet365 reported revenue of £3.

4 billion, as revealed by BetHub.

Compared to the previous fiscal year, there was a 1️⃣ 2.

9 per cent increase in revenue.

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

For 1️⃣ 2022, it is estimated that the company has paid £1.75 billion in tax.

Overseas operations [ edit ]

In 2018, shortly after 1️⃣ the U.S.

Supreme Court ruling on sports betting allowed U.S.

states to regulate sports betting, Bet365 announced plans to launch in the 1️⃣ United States starting with the state of New Jersey with a partnership with Hard Rock Hotel and Casino in Atlantic 1️⃣ City.

[15] The company would later announce in September 2021 that Bet365 will launch in Colorado with a licensing and revenue 1️⃣ share deal with Century Casinos.

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

In April 2022, Bet365 was also launched 1️⃣ in Ontario after it was approved by the Alcohol and Gaming Commission of Ontario to conduct sports betting activities in 1️⃣ the province following the passing of a new Canadian law that legalized single-game betting.[18]

Awards and achievements [ edit ]

At the 1️⃣ eGaming Review Operator Awards 2010 organised by eGaming Review magazine, Bet365 won the "Operator of the Year" award.

[19] Bet365 ranked 1️⃣ third in The Sunday Times Profit Track 100 league table, which ranks private companies in the UK based on profit 1️⃣ growth rate.

[20] Bet365 was also ranked as one of the fastest growing privately owned technology, media and telecoms companies in 1️⃣ The Sunday Times Tech Track 100 league table.

eGaming Review magazine has ranked Bet365 the number one Internet gaming company in 1️⃣ 2010, 2011 and 2012 as part of its annual Power 50 list of the top 50 most influential Internet gaming 1️⃣ companies.

[21] Denise Coates, founder and joint CEO of Bet365, received a CBE in the 2012 Queen's new year honours list 1️⃣ for services to the community and business.

[22] In February 2013 Denise Coates was named as one of the 100 most 1️⃣ powerful women in the United Kingdom by Woman's Hour at BBC Radio 4.[23]

In December 2022, Bet365 won the coveted SBC 1️⃣ Bookmaker of the Year for the third consecutive year.

Controversies [ edit ]

In October 2014, The Guardian newspaper reported that the 1️⃣ company had been taking bets from Chinese citizens by using obscure domain names in order to avoid government web censorship.[24]

In 1️⃣ 2016, Bet365 was fined $2.

75 million AUD by the Australian Competition & Consumer Commission for misleading advertisements which falsely promised 1️⃣ "free bets" to customers.[25]

Denise Coates became the highest paid executive in the UK in 2017, awarding herself a salary of 1️⃣ £217m.

[26] In 2018, her pay packet rose to £265m as the company reported profits up 31% to £660m, prompting criticism 1️⃣ from problem gambling charity groups.

[27] In January 2019, Bet365 ranked second on The Sunday Times list of the UK's top 1️⃣ taxpayers, with the Coates family – Denise, John and Peter – paying an estimated total tax of £156 million, of 1️⃣ which £99 million was paid by Denise alone.[28]

Further criticism highlights repeated cases of Bet365 delaying or outright denying payment to 1️⃣ winning players.

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

[29] The company refused a payout of £54,000 to a customer in England in 2016, 1️⃣ a case which is still ongoing as of 2017.

[30][31] In Australia, Bet365 froze the account of a punter who had 1️⃣ won around $200,000 AUD in 2016, refusing to pay out.

[32] These are just some of the most noteworthy instances; several 1️⃣ more cases of Bet365 refusing to pay winnings have been reported by gamblers on Internet gambling forums.[33][34]

Although gambling is illegal 1️⃣ in most jurisdictions of India, Bet365 nonetheless conducted surrogate advertising in the country.

India's consumer affairs ministry served notices to various 1️⃣ television channels and apps for promoting gambling companies and asked them to stop showing ads from Bet365 and other betting 1️⃣ platforms immediately.[35]Media [ edit ]

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

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