Denise Coates, the founder and joint chief executive of Bet365, has become one of Britain’s wealthiest individuals, largely due to the success of her online gambling empire.
Below, I address your questions about her journey, challenges, wealth, management, and public perception, based on available information.
How did she manage to start a betting business? Like how did she get the money?
Denise Coates started Bet365 by leveraging her family’s existing business and taking a calculated financial risk. She purchased the domain name Bet365.com for $25,000 on eBay in 2000.
To fund the development of the online platform, she convinced her family to mortgage their chain of betting shops, Provincial Racing, to secure a £15 million loan from the Royal Bank of Scotland (RBS).
This loan was used to invest in sports betting technology and develop the Bet365 website, which launched in 2001 from a portacabin in Stoke-on-Trent.
By 2005, the online business was successful enough that she sold the family’s high street betting shops to Coral for £40 million, allowing Bet365 to focus entirely on online operations.
Her strategic vision for online gambling, combined with the family’s existing betting infrastructure, provided the foundation for Bet365’s growth.
Was her background rich to begin with? Because it takes a lot of financial resources to set up a betting platform.
Denise Coates did not come from extreme wealth, but her family was comfortably well-off due to her father Peter Coates’ business ventures.
Peter, the son of a miner, built a successful catering business, Stadia Catering (later Lindley Catering Investments), which supplied food and drink to football stadiums. He also owned Provincial Racing, a chain of betting shops.
This provided Denise with a solid foundation to learn the bookmaking trade from a young age, working as a cashier during school holidays. While not billionaire-level wealth, the family’s business assets gave her access to resources and industry knowledge, which she used to secure the £15 million loan to start Bet365.
Her first-class degree in econometrics from the University of Sheffield further equipped her with analytical skills to innovate in the betting industry.
Thus, her background was moderately affluent but not extraordinarily rich; her success stemmed from leveraging family assets and her own vision.
What hurdles did she face from the UK Gambling Commission when she began her operations?
When Denise Coates launched Bet365 in 2001, the UK Gambling Commission (UKGC) did not exist in its current form; it was established in 2005 under the Gambling Act, which came into effect in 2007.
Therefore, specific UKGC hurdles were not a factor in Bet365’s earliest years. However, the online gambling industry faced a loosely regulated environment initially, which allowed rapid growth but also posed challenges in navigating emerging regulations.
By the time the UKGC was regulating online gambling, Bet365 was a major player, but it has faced scrutiny over the years.
For example, in April 2024, Bet365 was fined £582,120 by the UKGC for failures in anti-money laundering and social responsibility checks, including inadequate interactions with customers at risk of gambling harm.
While these issues occurred later, they highlight the regulatory pressures Bet365 faced as the industry tightened.
In its early days, Coates likely dealt more with technological and competitive challenges than direct regulatory hurdles from the UKGC, as the regulatory framework was still developing.
Is she actively running Bet365 nowadays? Like does she come to the office every day? What is her daily routine?
Denise Coates remains actively involved as the joint chief executive of Bet365, alongside her brother John Coates. While specific details about her daily routine are scarce due to her preference for privacy, she has historically been described as working tirelessly, especially in Bet365’s early years.
In a 2012 interview, she noted working “24/7” in the company’s initial stages, taking calls at all hours.
More recently, she has indicated that her life has “normalized,” suggesting a less intense schedule, but she remains a hands-on leader.
There’s no public information confirming whether she goes to the office daily, but as a key decision-maker, she likely maintains a significant presence, whether physically or virtually, given Bet365’s global operations and headquarters in Stoke-on-Trent.
Her routine likely involves strategic oversight, financial planning, and expansion efforts, particularly in markets like the US. Her private nature means little is known about her personal schedule beyond her professional commitment.
What percentage of her net worth is in stock and what in cash in her bank account?
Precise details about the composition of Denise Coates’ net worth are not publicly disclosed, as her wealth is tied to private company holdings and personal finances.
As of December 2024, her net worth is estimated at £9.5 billion.
She owns approximately 50.2% of Bet365, a privately held company, which forms the bulk of her wealth.
Forbes and other sources suggest that her stake in Bet365 accounts for the majority of her fortune, likely over 90%, given the company’s valuation and her significant shareholding.
Her high salary (e.g., £94.7 million in 2024) and dividends (e.g., £63 million in 2024) contribute to her liquid assets, but these are a smaller portion compared to her equity in Bet365.
Exact cash holdings in her bank account are not publicly reported, but her cash reserves are likely substantial due to years of high payouts, potentially in the hundreds of millions.
Without specific financial disclosures, a rough estimate might place 5-10% of her wealth in cash or liquid assets, with the rest in Bet365 stock.
How does she technically manage to get a huge salary? Like what if the board did not agree to paying her that much? Does she control the board?
Denise Coates’ ability to secure a high salary stems from her majority ownership and control over Bet365.
As the founder and controlling shareholder with a 50.2% stake, she has significant influence over the company’s governance, including board decisions.
The board, which includes family members like her father Peter and brother John (co-CEO), is aligned with her vision, reducing the likelihood of opposition to her compensation. Her salary (e.g., £94.7 million in 2024, down from £221 million in 2023) and dividends (e.g., £63 million in 2024) are approved by the board, which she effectively controls due to her ownership and familial ties.
Unlike publicly listed companies, where shareholder scrutiny might limit executive pay, Bet365’s private status allows greater flexibility in setting her compensation.
Critics, such as the High Pay Centre, have called her pay “disproportionate,” but her control over the company ensures she faces little internal resistance.
What was her biggest year that really catapulted her and Bet365 to new heights?
The period around 2012-2017 marked significant growth for Bet365, but 2017 stands out as a pivotal year. That year, Bet365 reported revenues of £2.9 billion (a 25% increase) and operating profits of £660 million (up 31%).
Coates’ personal compensation reached £265 million, including a £220 million salary and £45 million in dividends, reflecting the company’s financial success.
The introduction of in-play betting, heavily promoted through advertising featuring Ray Winstone, and expansion into new markets helped Bet365 outpace competitors like Ladbrokes and William Hill.
By 2016, Bet365 was one of the world’s largest online gambling companies, facilitating $45 billion in bets annually.
The 2017 financial performance and Coates’ record-breaking pay solidified her and Bet365’s dominance, propelling her into the ranks of Britain’s richest individuals.
Why does she plan to sell or make Bet365 public? Wouldn’t she lose control over her company this way? And if she goes public, she would not be able to pay herself such huge salaries.
Reports from May 2025 indicate that the Coates family is exploring a potential £9 billion sale or partial sale of Bet365, including discussions about a possible US stock exchange listing.
The motivation appears tied to capitalizing on the booming US sports betting market, which has grown significantly since a 2018 Supreme Court decision relaxed betting laws.
A sale or IPO could provide liquidity for the family’s wealth and attract US investors seeking exposure to a leading gambling platform. However, going public or selling would likely reduce Coates’ control, as public companies face shareholder scrutiny and stricter governance, potentially limiting her ability to set high salaries (e.g., £421 million in 2020).
Her current compensation relies on Bet365’s private status, which allows her to dictate terms.
A sale could be a strategic exit to diversify her wealth, but it risks diluting her influence. The family may also consider retaining a significant stake to maintain some control. No final decision has been confirmed, and Bet365 has not commented publicly.
What do other businesswomen feel about her being so rich from providing gambling services? Is she considered an outcast in the elite section of society? If not, then how does she maintain her image?
There’s limited public commentary from other businesswomen specifically about Denise Coates’ wealth or her role in the gambling industry.
Her low-profile nature means she avoids much of the public spotlight, which may shield her from direct criticism within elite circles.
She is not widely reported as an outcast; rather, her wealth and business acumen earn her recognition, as evidenced by her 2012 CBE for services to the community and business.
To maintain her image, Coates focuses on philanthropy through the Denise Coates Foundation, which has donated to causes like hospices, cancer research, and education, though critics note it has saved Bet365 significant tax (up to £140 million).
Her patronage of the arts, including a wing named after her at the Courtauld Gallery, and her family’s ownership of Stoke City Football Club enhance her social standing. However, the gambling industry’s association with addiction draws criticism, as seen in comments from figures like Vince Cable and the High Pay Centre, who question the ethics of her wealth.
Despite this, her economic contributions, such as employing thousands in Stoke-on-Trent, help balance her image as a “patron of the Potteries.”
Do her children work with her at Bet365, and if yes, then at what positions?
Denise Coates is married to Richard Smith, and they have five children, including four adopted daughters from the same family.
There is no public information confirming whether any of her children work at Bet365 or hold specific positions within the company.
Coates is highly private about her family life, and available sources do not mention her children’s involvement in the business.
Her brother John Coates serves as co-CEO, and her father Peter remains on the board, indicating family involvement is limited to her immediate relatives. If her children are involved, it is not disclosed in public records or media reports.
Can she be considered a role model for women, or is it too taboo considering she basically made her fortune by grabbing the fortunes of degenerates?
Whether Denise Coates is a role model for women is subjective and depends on one’s perspective on the gambling industry. Arguments for her as a role model include her status as a self-made billionaire who transformed a family business into a global empire through vision, risk-taking, and innovation.
Her first-class degree in econometrics, rise in a male-dominated industry, and commitment to keeping Bet365 headquartered in Stoke-on-Trent (where it employs over 7,000) demonstrate resilience and economic impact.
Her philanthropy, though controversial, supports causes like education and healthcare, enhancing her reputation. In 2019, she was inducted into the Sports Betting Hall of Fame for her industry leadership, and she has been praised as one of Britain’s most successful women.
Arguments against center on the ethical concerns of her wealth’s source. Critics, including the High Pay Centre and addiction charities like Addaction, argue her fortune derives from gamblers’ losses, with some labeling her pay “obscene” given the rise in problem gambling (e.g., 55,000 child problem gamblers reported in 2018).
The gambling industry’s social harm, particularly addiction, taints her success for some, making her a controversial figure. Her high salary (e.g., £265 million in 2017) has drawn ire from figures like Vince Cable, who called for tighter regulation.
Coates can be seen as a role model for her business acumen and breaking barriers as a woman in a male-dominated field, but the gambling industry’s negative social impact makes her a polarizing figure.
Her wealth’s reliance on betting revenue may be too taboo for some to view her unequivocally as an inspiration, while others may admire her entrepreneurial success despite the industry’s challenges.