Bet365 Hits $4.59 Billion in Annual Revenue

^{Pictured: Coates family, owners of Bet365}

UK-based bookmaker giant Bet365 reported annual revenue of £3.72 billion ($4.59 billion), according to its latest financial statement for the fiscal year ending March 31, 2024. 

This reflects a 9% year-on-year increase in revenue. The company’s ownership of Stoke City FC contributed £23.8 million ($29.3 million) to its total revenue. Operating profit also surged to £365.7 million ($451 million), reversing last year’s operating loss of £37.3 million ($46 million).

Bet365 saw an 11% rise in sports betting volume, with its expansion into the U.S. market highlighted as a key growth driver. 

Additional advancements noted in the report include expanded eSports betting options and support for French and Spanish languages.

CEO and founder Denise Coates, who has consistently been one of the highest-paid executives globally, earned £94.7 million ($116.8 million) for the fiscal year. This marks a 57.1% decline from her previous year’s compensation of £221 million ($272.5 million).