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Bet365: UK's best-paid manager strikes ₤ 323m jackpot

Bet365 boss Denise Coates has actually gotten a ₤ 323m payday, validating her position as the UK's finest 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 firm's accounts, external program that in the year to end-March her income rose from ₤ 220m on the previous duration.

But the rise comes as the industry faced mounting criticism, including over .

Gambling: Just how much do we spend in the UK?

The privately held company is owned collectively by Ms Coates and members of her direct family, including her bro John, who is joint president, and her father Peter, the company's chairman.

Ms Coates made a first-rate degree in econometrics - the application of statistical methods to financial data - from Sheffield University before joining the High Street betting firm, run by her father.

She recognized the capacity of online gambling in 2000 and bought the domain Bet365.com so that she might drive the family company because direction.

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

The company paid dividends of ₤ 92.5 m, half of which are thought 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, which made a loss of ₤ 8.7 m in the year.

The High Pay Centre, a think tank which keeps an eye on income, said the timing of the release of the Bet365 results looked "negative", offered it was simply after a basic election.

High Pay Centre executive director Luke Hildyard said: "this promotion code looks like cynical timing, sneaked out directly after a basic election campaign where excess wealth, taxes on the abundant and the large space between those on top and everybody else have been essential problems."

He added: "Business success must be incentivised and rewarded, but a payment a portion of this promotion code size would still manage a way of life beyond the wildest dreams of the majority of people."

Mr Hildyard stated there was "clearly scope" for those accumulating such sums to pay their workers 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 gambled in the past year.

The study stated this promotion code was "particularly worrying, given that throughout the UK, many kinds of industrial betting are only legal for those aged 18 and over".

Fruit devices were the most popular type of gaming, followed by playing cards for cash with good friends and scratchcards.

Dr Graham Moore of the Centre for the Development and Evaluation of Complex Interventions for Public Health Improvement said at the time: "The proof reveals that individuals who bet earlier in life are more likely to become issue gamblers in their adult years."

However, a Betting Commission research study in October, external suggested that 11% of children had bet within a week of the study being carried out.

But in addition, the regulator cautioned in July, external of research study that suggested links in between "problem gambling and suicidal ideas or attempts".

Bet365 states it has "an unwavering commitment to provide industry-leading techniques to gamer security", including tracking consumer gaming, and states it will "terminate the [client] relationship if it feels the risk of damage is too high".

How much should bosses be paid?

Child betting a 'growing problem' - study

15 October 2019