Denise Coates: The Story of the World’s Richest Bookmaker

Denise Coates is a self-made billionaire who made history in the male-dominated world of bookmaking. Today, she is the CEO and majority shareholder of Bet365, one of the largest online gambling companies in the world. Here’s how Denise Coates built Bet365 and became one of the 500 richest people in the world.

The Evolution of Coates’ Career

Coates’ journey to becoming a billionaire bookmaker began as a teenager when she worked as a cashier in her father’s betting shop. With a drive to succeed, she eventually managed several of her father’s betting shops.

In 1995, Denise’s father appointed her as CEO of Provincial Racing, a bookmaking firm owned by her family. At the age of 28, Coates made a bold move by taking out a £10 million loan from Barclays Bank to acquire a neighboring network of betting shops. She gradually expanded her company’s reach, eventually taking over the entire Stoke-on-Trent area.

The Birth of Bet365

Coates launched Bet365 in 2001 after recognizing the potential of online gambling. To fund the project, she sold her land-based betting shops to Coral for £50 million in 2005. She used the funds to develop modern software and launch a promotional campaign, establishing Bet365 as a major player in the UK sports betting market.

Denise Coates, CEO and majority shareholder of Bet365

Bet365’s Rapid Growth

After Bet365 started bringing in money, the company reinvested its profits to develop modern software and launch promotional campaigns to attract more customers.

In 2008, Bet365 made a big splash across the UK, featuring actor Ray Winston – known for playing tough characters with a London accent in movies – during sports match broadcasts to offer real-time bets.

Bet365’s revenue grew rapidly, reaching £2.98 billion and a net profit of £767 million.

In 2020-2021 alone, Bet365 made a whopping £2.81 billion, making it one of the largest online gambling companies globally. Currently, the company has more than 80 million customers in over 200 countries.

Denise Coates’ Continuing Legacy

Denise Coates is currently Britain’s highest-paid boss, taking home a staggering salary of £421 million in 2020 – the highest-ever recorded paycheck in the country, averaging around £1.2 million a day.

According to Forbes, she is currently one of the 500 richest people in the world with a personal fortune of $5.4 billion. Her fortune has steadily grown since she first appeared on the Forbes list in 2015, with an estimated worth of $3.8 billion.

Bet365 has also been recognized for its success, taking second place in the UK market after William Hill. The company facilitates more than $65 billion in bets a year and, according to The Mirror, it paid £460.2 million in taxes to the British government in 2022.

Today, Denise Coates owns around half (50.2%) of privately held Bet365 and is the wealthiest bookie in the world.

INTERESTING FACTS

• Denise Coates differentiates her business principles by strictly refusing to work with offshore companies. She prefers to pay higher taxes in the UK instead of in Antilles or Curacao.
• Bet365 was the first to offer an extensive wagering menu, covering several dozen soccer leagues, athletics, and other sports. This was a unique concept at the time and allowed customers to bet on matches 24/7/365.
• The Bet365 domain was acquired by Denise Coates on eBay for £25,000 in 2020.
• Despite being wealthy, Denise Coates prefers to spend her time on business rather than attending high society events. Her only indulgence in luxury is her Aston Martin car.