Bet365 founder makes £48000 / hour

In the age of technology and times of a pandemic, many people are glued to their smartphones, computers and laptops, mostly for entertainment. As cafes, restaurants and clubs have become off limits, people are forced to seek out new places to relax. Some have resorted to online casinos or sports betting.

Evidence of these facts: the owner of one of the giants in the gambling industry – Bet365 – made over 400 million pounds (nearly 500 million euros) in 2020 alone. In the last 4 years, Denise Coates’ profit from Bet365 amounts to 1.50 billion euros, the Guardian reports.

Simple calculations show that in the past year, Coates earned 48,000 pounds an hour for her work. The figure does not include the additional dividends that the company pays, and in the specific case of Denise, this included an additional 45 million pounds in her account.

With the colossal amounts the founder of Bet365 and her two brothers (helping grow and develop the company) are raking in, it’s no surprise their net worth currently exceeds 7 billion pounds, which makes their company one of the largest taxpayers in England.

More about Bet365

Bet365 started as a local betting company managed by Denise Coates’ father Peter. As many events were canceled in March the previous year, the corporation recorded a decline in revenue. Subsequently, however, the demand for all kinds of online gambling for entertainment, often for cash increased. So did the company’s revenue. Reports from Bet365’s competitors show that industry revenue growth is up nearly 30% y/y.

Leave a Reply

Your email address will not be published. Required fields are marked *