Bet365: UK's best-paid manager hits ₤ 323m prize

Bet365 employer Denise Coates has actually received a ₤ 323m payday, verifying her position as the UK's finest paid executive.

The co-founder of the online gambling firm was paid a ₤ 277m wage plus dividends as the appeal of online betting continues to grow.

The company's accounts, external show that in the year to end-March her salary increased from ₤ 220m on the previous period.

But the increase comes as the market dealt with installing criticism, consisting of over children gambling.

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The privately held company is owned jointly by Ms Coates and members of her direct household, including her sibling John, who is joint president, and her dad Peter, the firm's chairman.

Ms Coates earned a first-rate degree in econometrics - the application of analytical methods to economic data - from Sheffield University before signing up with the High Street wagering firm, run by her dad.

She recognized the potential of online gaming in 2000 and invested in the domain name Bet365.com so that she might drive the family organization in that direction.

Bet365 earned a profit before tax of ₤ 791m in the year, compared to ₤ 661m the year before.

The firm paid dividends of ₤ 92.5 m, half of which are thought to have gone to Ms Coates, as the yohaig code owner of about half of Bet365's shares.

The group of companies owns Stoke City Football Club, which made a loss of ₤ 8.7 m in the year.

The High Pay Centre, a think tank which keeps an eye on earnings, stated the timing of the release of the Bet365 results looked "negative", given it was simply after a basic election.

High Pay Centre executive director Luke Hildyard said: "this promotion code looks like negative timing, sneaked out straight after a basic election campaign where excess wealth, taxes on the rich and the large gap in between those on top and everybody else have been crucial problems."

He included: "Business success ought to be incentivised and rewarded, however a payment a portion of this promotion code size would still afford a way of life beyond the wildest dreams of a lot of individuals."

Mr Hildyard said there was "plainly scope" for those building up such amounts to pay their workers more or contribute more in taxes.

Child gaming

In October, Cardiff University research study recommended that two-fifths of 11 to 16-year-olds had actually gambled in the past year.

The research study said this promotion code was "especially concerning, provided that throughout the UK, a lot of types of business gaming are just legal for those aged 18 and over".

Slot machine were the most popular type of gaming, followed by playing cards for cash with buddies and scratchcards.

Dr Graham Moore of the Centre for the Development and Evaluation of Complex Interventions for Public Health Improvement said at the time: "The proof shows that people who gamble previously in life are more most likely to become problem gamblers in the adult years."

However, a Gambling Commission research study in October, external recommended that 11% of kids had actually bet within a week of the survey being carried out.

But in addition, the regulator cautioned in July, external of research that suggested links in between "issue betting and suicidal thoughts or efforts".

Bet365 states it has "a steadfast commitment to provide industry-leading techniques to gamer security", including monitoring client betting, and says it will "end the [consumer] relationship if it feels the yohaig code risk of damage is expensive".

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Child betting a 'growing issue' - research study

15 October 2019