From Humble Beginnings to £280 Million: Bet365's Denise Coates Sets New Pay Record

Denise Coates, the founder and chief executive of Bet365, has made headlines once again with her staggering pay package of £280 million for the year ending March 2025. This amount marks a two-thirds increase from the previous year when she earned nearly £158 million, despite a significant drop in the company’s profits. In a year where Bet365’s pre-tax profits fell from £596 million to £339 million, and revenue only saw a modest rise from £3.7 billion to £4 billion, Ms. Coates’s remarkable pay raise has raised eyebrows.

Ms. Coates’s earnings included a salary of £104 million and a share of the £354 million declared in dividends, a reflection of her status as a majority shareholder. Over the past decade, her total earnings from Bet365 have exceeded an astonishing £2 billion. While many in the community admire her for her self-made status and contributions to local initiatives, critics from the High Pay Centre are voicing concerns about her exorbitant income, arguing it far exceeds sustainable living standards and highlighting the potential societal harms linked to the gambling industry.

Starting from a portable building in Stoke-on-Trent, Coates has transformed Bet365 into the largest private sector employer in that area, providing a range of online gambling services that cater to millions worldwide. Her background as an accountant helped lay the groundwork for building Bet365 from her father’s modest bookmaking business.

Additionally, Coates’s impressive income has significant tax implications. Her salary alone would contribute tens of millions to the UK’s tax system, and in the past year, Bet365 itself has paid £482 million in taxes, a jump from £364 million the prior year.

Moreover, in alignment with her philanthropic efforts, Bet365 posted a £130 million donation to the Denise Coates Foundation, which supports various causes in education, arts, culture, and health.

Overall, Denise Coates’s financial achievements underscore both her remarkable ascent in the business world and the contentious debate surrounding the ethical dimensions of executive compensation in industries like gambling.