Bet365 boss earns £469m in a single year
 

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The boss of the gambling firm Bet365 has been awarded one of the biggest pay packets in UK corporate history.

The highest paid director of Bet365 Group - believed to be founder and majority shareholder Denise Coates CBE - earned a salary of £421m in the year ending 29 March.

She also earned £48m in dividends, taking her total pay to £469m.

The company said the arrangements were "appropriate and fair", despite sales falling at the firm last year.

But campaign group the High Pay Centre said it was "appallingly inefficient for single individuals to hoard wealth in this way".

Ms Coates, who founded the Bet365 website 20 years ago in Stoke-on-Trent, has been the UK's highest paid boss for several years.

She is also one of Britain's wealthiest women and a major philanthropist, donating millions through the Denise Coates Foundation.

Her salary in the year to March was more than 50% higher than the £277m received in 2019 and meant she earned almost £1.2m every day last year.

That was more than the bosses of every FTSE 100 company combined, according to the High Pay Centre.

It came as sales at Bet365 fell 8% to £2.8bn as international sporting events were cancelled due to the pandemic. Profits slumped 74% to £194.7m.

However, the company said it had not cut staff pay or laid off employees as a result of the crisis. It also did not make use of the furlough scheme.

The company also paid £85m to Ms Coates's charitable foundation.

Ms Coates and her brother John took over the gambling business 20 years ago, which was run by their father. Ms Coates now owns about half of the company.

She has previously been described as one of the UK's "most successful women".

Ms Coates achieved a first-class degree in econometrics and later trained as an accountant within the family firm, building further on the knowledge of the then small chain that she picked up while working part-time during high school.

The chief executive's annual pay packet is likely to be the biggest in UK history. Earlier this month, hedge fund tycoon Sir Chris Hohn staked a claim to that title after paying himself £343m last year.

https://www.bbc.co.uk/news/business-56594988

...those are some big ass diamond earrings...I don’t know if they’re actual diamonds or not...

Yes she earned it

Mugs game
TS used to manage a Betting store

Parmy must be stopped

Over 5,000 workers
she takes care of.




9:37AM Ch5HD AM Live debate

Slag!

She has been called worse

A mugs game indeed - I got less than £15/h for my trouble, and most shop employees make about £1/hour over minimum wage whilst the people at the top of the companies rake in millions. There's tips on top of that, occasionally very generous ones, but that's obviously nothing to do with the upper management... if they had their way you'd probably have to put the tips in the till as well.

Retail in general is a pretty grubby area to work in and retail bookies are pretty much the worst of it... they don't even take very good care of the shops, all the money floating straight to the top. And these days as it goes more and more online with them only needing a few call cantre and digital dev staff, it's becoming pure profit for the big wigs, and doesn't even generate employment.

I wish people would STOP giving their money to these people.

Is she looking for a handsome young toy boy?

Gross

Lucky her, tbh

Emphasis on luck, because she wouldn't be that rich if she paid her employees proper wages, and if mugs didn't piss all their money away.

No.

she is paying lots of tax and providing jobs i guess

Bang On Right

They’re currently building an office in Malta so I doubt it :idc:

Gambling ruins lives and yet it's all over the telly, on the front of football shirts, they're trying to normalise betting... make it seem like a football match isn't fun unless you risk losing your rent.

I don't begrudge anyone working hard and getting a high salary, but no one is worth £469m a year. No one. Especially not someone who trades in the misery of others.

None of it was my money.

it pretty much keeps most football clubs in business as the mo

as well as Talksport

Agree with this tbh.

The normalisation of gambling is not a good thing tbh. EVen with those who can control themselves well..my sister used to bet like..a twenty a year or so, a fiver on slots here, a football match bet (never over about a quid) there. Both me and my brother have had gambling issues in the past..I tried to warn my brother about doing the 'matched betting'..which is basically free money for a while, telling him that he needed to stick to that and not risk actual cash, but of course most dont listen and think they are in control. Anyway, both of us have serious issues, and mine is ongoing even though I KNOW its ****ing stupid I cannot stop it as it seems about the only thing in life I get some form of enjoyment from (or my brain registers it that way, as most of the time it doesnt make me feel better, at all, but looking bac my brain says it was great!)

Anyway yeah, she was betting low amounts, and cashing out any wins. Recently in lockdow her spending has crept up apparently. Not totally unaffordable, but going up and is now every week, rather than every few months, so she recognised it early and gave it all up..I wish I had done that sooner tbh.

Its so stupid looking back on 'sessions'..no idea how I convince myself that more money doesnt matter and I will win the rest back..and such. I bloody well know that wont work, but its kind of like going into a daze and nothing else matters..until one of your deposits fails, and you click on that you have spent 500 quid in a few hours D:

There are a lot of losers to her in those wages she runs it with her brother and dad and set it up in a porta cabin she gave 11 million last year to her own charity she set up

The thing that used to get me with people on slots, was when you'd give them a 10 minute closing up warning and they'd be like,

- "What time is it?"
- "Nearly 10pm, closing up soon"
- ".... ... :umm2: what time did I come in?"
- "About 7 o'clock"
- ":omgno: :omgno: :omgno: :confused: :confused:"


Sometimes people have COMPLETELY lost perception of time, they think they've been in for half an hour, maybe an hour tops, but they've been glued to the screen for 3 hours. I sometimes wonder if it legitimately has a hypnotic effect on some people. Extra fascinating - those little 20 minute warnings they introduced (it asks if you want to keep playing after 20m, 40m, an hour etc.) don't make any difference for many people. They think they've cleared 2 or 3 of them but they've actually had 6.

Yes, lss of time is a huge part of it too. Its not unusual for me to be on a binge starting say..10pm. Then to hear the kids starting to wake up and be like..what the ****? Sure its only been a few hours. It really is a trancelike state for me. And the rationalisation my brain does during that time, to convince me its fine to keep on going and I 'have' to win eventually (when again, I know this is bollocks too..) is just crazy. Have even found myself telling myself that I can just stick this last hundred in, it will most likely make me win but if it doesn't, I have people I can lend money off for the weekly shop?! Its not that bad now, that was during my worst times..now I seem to be able to hold some back for household stuff. Like..I cannot justify buying myself some new jeans, for example, because thats 40 quid less that I could spend gambling, which is a potential 4k!! omg.

Its so bloody stupid. Yet, it happens time and time again.

An old friend of mine had the catchphrase; "Come on, I'm bound to win!!" when we used to try to drag him away from the machines on a night out... he got really bad with it in the end. But when he stops gambling, he starts doing coke/MDMA. Then when he decides he needs to kick those for his health, he starts gambling. He never does both at the same time but it's always one or the other... it's like a choice between his physical health and his finances I guess. On balance I suppose he's better off losing his shirt to Roulette than wrecking himself with cocaine.

I haven't seen him for 5+ years to be fair, wonder how he's getting on :umm2:.

How intersting.

Depending on amounts consumed..the drugs are possibly the better option tbh. MDMA kind of self regulates, as you cannot get high if your body has not recovered so its pretty pointless to overdo it..need a week break at least, preferably more. No sure on cocaine though. For me, coke is such a horrendous waste of money. Though I have only ever tried it once..and not in a 'party setting' which I imagine would make it better! I was extremely underwhelmed, and found it realy odd that so many (especially people in high pressure jobs) do it regularly..when other stuff gives a much beter buzz, lasts longer and is like..a tenth of the price! :laugh:

You would have thought though, being on drugs would make his gambling worse, not better. Though it could be a case of..all disposable income on gambling, leaving nothing for drugs..and when on drugs, simply cannot afford gambing.