Bet365, the Stoke-On-Trent-based firm and privately-owned online casino and sportsbook operator has become the largest in the UK after its 2011 financial results, which shows a 22 percent year-on-year increase in revenues to £501 million.
Bet365 was founded in 2000 by Denise Coates in Stoke-on-Trent with just a few people, before expanding online a year later.
Bet365 said that the popularity of its new in-play wagering offering had the number of bets grow to 58 percent compared to the previous twelve-month period.
Investment in this new innovative field added to the expenses for a new marketing campaign saw Bet365 report flat profits from online betting and gaming of £93.7 million off of turnover of £439 million.
Bet365 revealed the Company had a pre-tax profit for 2011 of £91 million. They had to take in losses of £7.4 million from its majority stake in English Premier League football club Stoke City. Denise Coates’ father, 73 year old bookmaker and entrepreneur Peter Coates serves as Chairman for the soccer club.
The Guardian newspaper reported that the Coates family took out a £25 million dividend for the third consecutive year while Denise Coates received pay and pension contributions of £4.5 million, which was up from £1.3 million in 2010.
Bet365 is the last main online bookmaker still operating inland in the UK. Competitors such as Ladbrokes and William Hill moved their operations offshore last year, which caused thousands of jobs losses in the UK. Bet365 also has businesses in Gibraltar, where it takes casino, bingo and poker bets. Bet365 wants to venture into newly acquired licensed markets like Spain, the Netherlands and Australia.
