Bet365: UK's best-paid employer hits ₤ 323m jackpot

Bet365 manager Denise Coates has actually gotten a ₤ 323m payday, verifying her position as the UK's best paid executive.

the yohaig code co-founder of the online gaming firm was paid a ₤ 277m salary plus dividends as the popularity of online gambling continues to grow.

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

But the rise comes as the market dealt with mounting criticism, consisting of over kids gambling.

Gambling: Just how much do we invest in the UK?

The privately held business is owned jointly by Ms Coates and members of her direct family, including her bro John, who is joint president, and her daddy Peter, the firm's chairman.

Ms Coates earned a first-rate degree in econometrics - the application of statistical techniques to financial information - from Sheffield University before signing up with the High Street wagering firm, run by her father.

She recognized the potential of online gaming in 2000 and bought the domain name Bet365.com so that she could drive the family company because direction.

Bet365 made a revenue 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 believed to have actually gone to Ms Coates, as the owner of about half of Bet365's shares.

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

The High Pay Centre, a think tank which monitors income, stated the timing of the release of the Bet365 results looked "negative", offered it was just after a general election.

High Pay Centre executive director Luke Hildyard stated: "this promotion code appears like cynical timing, slipped out straight after a general election campaign where excess wealth, taxes on the rich and the vast gap between those at the top and everyone else have been essential concerns."

He added: "Business success should be incentivised and rewarded, however a payment a fraction of this promotion code size would still manage a way of life beyond the wildest dreams of the majority of people."

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

Child gambling

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

The research study stated this promotion code was "especially concerning, considered that across the UK, a lot of forms of business gambling are only legal for those aged 18 and over".

Slot machine were the most popular kind of gaming, followed by playing cards for cash with good friends 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 evidence reveals that people who bet previously in life are more most likely to end up being issue gamblers in their adult years."

However, a Gaming Commission study in October, external recommended that 11% of kids had gambled within a week of the study being carried out.

But in addition, the regulator cautioned in July, external of research that indicated links in between "problem gaming and self-destructive ideas or attempts".

Bet365 says it has "a steady commitment to deliver industry-leading techniques to gamer protection", consisting of monitoring client gaming, and states it will "terminate the [consumer] relationship if it feels the yohaig code threat of damage is too expensive".

How much should employers be paid?

Child gambling a 'growing problem' - research study

15 October 2019