Bet365 Owners Shine On UK Tax List

Posted by author January 27, 2025 Gambling

Bet365’s owners once again found themselves among the UK’s top taxpayers, according to The Times’ annual tax list for 2025. The gambling industry has become synonymous with hefty tax contributions, with Denise, John, and Peter Coates of Bet365 and Fred and Peter Done of Betfred ranking high on this year’s list.

Leading the list was Chris Hohn, the founder of Children’s Investment Fund Management, who paid £339.5 million ($423.15 million) to the UK Government. Following him by quite a margin were Fred and Peter Done, whose family’s contribution reached £273.4 million, placing them squarely at second place. The Coates family trailed just slightly behind, paying £265 million and earning the third spot on this prestigious list.

The rankings reflect the stability and profitability of the betting industry, particularly during the financial year 2024, as both Bet365 and Betfred are noted for their impressive earnings. While the Coates family maintained their solid standing, their tax payment saw no change compared to the previous year’s figure of £375.9 million, underscoring their consistent contributions to the UK Treasury.

Challenges persist for the gambling industry, with the recent UK Budget mirroring stable gambling duties, indicating no rise within the sector. Despite this, the financial health of these companies is noteworthy. Bet365 has shown significant improvement with its latest financial report, which was recently disclosed, hinting at rising profits.

Interestingly, Denise Coates, one of the most recognizable figures at Bet365, saw her pay decrease during this profit surge, illustrating her commitment to the business even amid shifting financial landscapes. Meanwhile, Betfred’s July report revealed turnover increased by 25.6%, yet their operating profit took a sharp downturn, plummeting by 98.7%. This juxtaposition highlights the volatility within the betting industry, often responding to regulatory frameworks and market shifts.

While conversations surrounding the morality and legality of gambling continue, the tax contributions made by leaders of these companies support key public services and infrastructure. Evidently, both Bet365 and Betfred are undeterred from their role within the industry, with plans to innovate and expand their offerings.

Bet365 also ventured forward to enter the Brazilian market with its latest game, Velocity, which was developed with the aim of maximizing player engagement. This move denotes their global ambition as they explore new territories, capitalizing on the interactivity and excitement sought by gamblers worldwide. John Gordon, CEO of Incentive Games, noted, “While the market is saturated with crash games, Velocity stands out from the crowd. It is the first in a series of exciting crash game offerings and we’re so proud to be launching this groundbreaking game with Bet365.”

With the gaming experience continuously refined through data insights, Bet365 remains committed to delivering cutting-edge entertainment to its players. It’s clear the company is strategically positioning itself not just as a top tax contributor, but as a leader within the competitive financial gaming market.

The significant sums paid by both Betfred’s and Bet365’s families reflect not only the success of these businesses but also their capacity to contribute to the public funds, showcasing the interconnectedness of business fortunes and fiscal responsibilities. Where some might question the ethics of their operations, the tax contributions provide undeniable evidence of their impact on the UK economy.