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Bet365: UK's best-paid manager hits ₤ 323m prize

Bet365 manager Denise Coates has actually received a ₤ 323m payday, confirming her position as the UK's best paid executive.

The co-founder of the online gambling company was paid a ₤ 277m income plus dividends as the appeal of online gaming continues to grow.

The company's accounts, external program that in the year to end-March her wage rose from ₤ 220m on the previous period.

But the increase comes as the market dealt with installing criticism, including over kids gambling.

Gambling: Just how much do we invest in the yohaig code UK?

The independently held company is owned jointly by Ms Coates and members of her direct household, including her bro John, who is joint president, and her daddy Peter, the firm's chairman.

Ms Coates earned a top-notch degree in econometrics - the application of statistical approaches to financial data - from Sheffield University before joining the High Street betting firm, run by her father.

She identified the potential of online gambling in 2000 and purchased the domain name Bet365.com so that she could drive the household company because instructions.

Bet365 made a profit before tax of ₤ 791m in the year, compared with ₤ 661m the year before.

The firm paid dividends of ₤ 92.5 m, half of which are believed to have actually gone to Ms Coates, as the owner of about half of Bet365's shares.

The group of firms owns Stoke City Football Club, that made a loss of ₤ 8.7 m in the year.

The High Pay Centre, a think tank which monitors earnings, said the timing of the yohaig code release of the Bet365 results looked "cynical", provided it was just after a basic election.

High Pay Centre executive director Luke Hildyard stated: "This looks like cynical timing, slipped out straight after a general election campaign where excess wealth, taxes on the abundant and the vast space between those on top and everyone else have actually been essential concerns."

He added: "Business success need to be incentivised and rewarded, however a payment a fraction of this size would still manage a way of life beyond the wildest dreams of many people."

Mr Hildyard stated there was "clearly scope" for those collecting such sums to pay their employees more or contribute more in taxes.

Child gambling

In October, Cardiff University research study suggested that two-fifths of 11 to 16-year-olds had actually bet in the previous year.

The research study stated this promotion code was "especially worrying, offered that throughout the UK, a lot of forms of industrial betting are just legal for those aged 18 and over".

Fruit machines were the most popular kind of gambling, followed by for cash with friends and scratchcards.

Dr Graham Moore of the Centre for the yohaig code Development and Evaluation of Complex Interventions for Public Health Improvement said at the time: "The proof reveals that people who gamble previously in life are most likely to become issue gamblers in adulthood."

However, a Gambling Commission research study in October, external suggested that 11% of kids had actually gambled within a week of the survey being performed.

But in addition, the regulator warned in July, external of research study that indicated links in between "issue gaming and self-destructive thoughts or attempts".

Bet365 states it has "a steady dedication to deliver industry-leading methods to gamer defense", including monitoring customer gaming, and says it will "terminate the [customer] relationship if it feels the risk of damage is too expensive".

Just how much should managers be paid?

Child gambling a 'growing issue' - study

15 October 2019