She is one of the richest and most successful people in the world. Find out all about Denise Coates, the owner of Bet365.
Many may not know, but Denise Coates is the owner and founder of Bet365 and one of the richest women in the world. Originally from Stoke-on-Trent, the English co-CEO was the main force behind the emergence of the famous bookmaker.
Considered in 2013 as one of the 100 most important women in Great Britain, Denise Coates has been recognized for her work by different entities and people.
In 2012, the same year she was named a Commander of the Order of the British Empire (CBE), Coates received an honorary doctorate from the University of Staffordshire. In 2019, for example, she was inducted into the Sports Betting Hall of Fame of the Sports Betting Community.
There are more Bet365 owners besides the British businesswoman, but they are all with the last name Coates. This bookmaker was born from the work started by his father Peter, who in 1974 bought some betting shops to create the company that would become known as Provincial Racing. Denise would go down in history shortly after, with her very important role.
Get to know the whole story of Denise Coates, her fortune and many other details in this article.
The Story of Denise Coates
Born in Stoke-on-Trent, Denise Coates remains known as one of the world's great women billionaires.
Denise studied econometrics at the University of Sheffield and then went to work at her father's firm. At Provincial Racing, she took her first steps as a cashier before becoming, later, the company's accountant. These works were important in her development as a businesswoman, but the big turning point would come later.
At a time when the internet was beginning to gain the world's attention, Denise Coates decided, in January 2000, to buy the domain Bet365.com. In this business, she paid about 11 thousand dollars, a value that was perhaps strange for those who still did not understand the power of cyberspace. This moment is especially relevant as it opened doors for others to understand the phenomenon.
Around the same time, her father Peter asked for a loan of approximately 17 million dollars from the Royal Bank of Scotland, an amount that allowed the development of Bet365. About a year later, in March 2001, the website would be launched, becoming one of the first to invest heavily in an online sportsbook.
All these years later, Denise Coates is a successful name who, in 2017, was named Britain's highest paid executive. The annual salary that year was about 300 million dollars, so much so that it was said that the Englishwoman was 10 times richer than the late Queen Elizabeth II.
Denise's mansion is valued at over 95 million dollars
More recently, between 2020 and 2021, Coates cashed in more than 470 million dollars - and yes, we're not talking about the company, but Denise. It is estimated that, in the last decade, the businesswoman has earned more than one billion dollars on an individual basis.
In a way, the success of the businesswoman is understandable. At the end of the day, we are facing a CEO of one of the most famous bookmakers across the globe. Denise Coates is considered by many to be an exemplary owner.
Denise Coates' huge salary allowed the founder to build a stupendous home in 2021. Located in Cheshire, England, the mansion cost more than $95 million and has everything you can imagine: an artificial lake, tennis courts, stables and of course an idyllic setting.
Although she likes to keep her privacy, it is known that the founder and CEO of Bet365, now 54 years old, is married to Richard Smith, with whom she has five children.
Denise Coates Foundation
It was once known as the Bet365 Foundation, but today it bears the name of founder Denise Coates. The British businesswoman created this foundation in 2012, four years before the name change.
The foundation's main field of action is to provide funds to charities working in areas such as health and well-being, medical research and development, or even arts and culture.
Just recently, for example, the Denise Coates Foundation donated 1.1 million dollars to families who were looking to flee the war in Ukraine. Other examples include supporting countries devastated by natural disasters, such as those affected by Typhoon Haiyan, in the Philippines, and much more.
It's also worth noting that it's not just Coates who supports others through her foundation. In the case of Bet365, it donates 0.1% of its gross earnings to GambleAware, a British charity that seeks to fight the damage that gambling addiction can bring.
Criticism to Denise Coates
Despite being considered by many as an example of success, Denise Coates does not escape criticism. In 2017, the owner of Bet365 was in the spotlight for the payment of 300 million dollars that she received that year. The criticism was mainly due to the fact that many suffered from gambling addiction.
Her own justification for the value went through its importance in the growth of Bet365. At the same time, the government or charities were the main voices criticizing the sports betting industry. However, Denise Coates has never hidden the importance of tackling the industry's problems.
Another reason for many to be skeptical was the fact that, for example, Coates' salary is about 10,000 times the British average. In 2022, even so, it was revealed that the businesswoman suffered a cut of about 227 million dollars in her annual salary. Also this year, in dividends, she received approximately 57 million dollars for owning 50% of Bet365's shares.
The history and growth of Bet365
To talk about the history of Bet365, we first need to talk about the history of Peter Coates. The 84-year-old Englishman was born poor and left school to start his working life at 14 and, years later, at 23, he became regional manager of the Wimpy restaurant chain.
One of his great moments would be at his 30s, when he created a catering service dedicated to football clubs. The firm was called Stadia Catering, which merged with Lindley Catering in 1968. From that year until 2001, Peter served as president.
Along the way, Peter Coates started to create the aforementioned Provincial Racing, a chain of betting shops that had 59 spaces throughout England. As if that wasn't enough, Peter was also the founder of the Signal 1 radio station, as well as a member of Stoke City FC, the club of which he resumed the role of president in 2006.
As we said before, Bet365 is the result of Denise Coates' decision to buy the internet domain that is still used by the firm today. In addition, the English businesswoman also asked for a loan alongside her father, thus being able to take the first steps in the development of this bookmaker.
Although the domain purchase was in 2000, Denise Coates took control of this company already in 1995. Despite the advanced vision, it took some time for Bet365 to find success. At that time, services on the internet were still not well regarded by citizens around the world and even by users.
However, Denise Coates was not afraid to invest heavily in this market. Innovation has always been a constant and an example of this was the launch of live betting on this site. Bet365 was the first house to introduce this market and even others, attracting more and more punters' attention.
Thus, this is today a home with more than 6 million users spread across more than 200 countries. Basically, this is due to the fact that this firm introduces improvements and novelties at every step.
Some of the examples include the addition of games such as poker and bingo or the concern to revolutionize this house with the availability of different languages, mobile betting, live broadcasts and much more. No doubt, Bet365 was even one of the first houses around the world to include esports betting in their markets.
Who are the other owners of Bet365?
Denise turns out to be the best-known owner and she even holds the largest percentage of the company (50.1%). The other two owners are brother John and father Peter Coates, who own more than 40%, with less than 10% belonging to other names.
Known for avoiding the cameras and maintaining their privacy, the two brothers are renowned for their importance in the development of Bet365. Before the adventure in the world of sports betting, Denise graduated in econometrics, as mentioned above, and John in law, from the University of Bristol.
Interestingly, members of the Coates family are also known to own the Stoke City team, with father and son being president and vice president, respectively.
Peter has had several businesses since the late 1960s and bought most of the shares in the club in 1989. Peter would serve as chairman until he sold these investments in 1999 for over $3.8 million but returned to this position after Bet365 bought back those shares.
There is no doubt that the Coates are one of the wealthiest families in England. In 2022, note, the three Stoke-on-Trent family members appeared at 16th on The Sunday Times list of richest British citizens, even ahead of the likes of Roman Abramovich or the Barclay family.
What bets and features are there at Bet365?
It is well known that Bet365 is one of the best bookmakers operating in the UK. A proof of this is the fact that it has immense resources and tools for its users.
In this house you can find most of the sports you are used to, even e-sports betting, casino and much more. Another added value is that you can do this on the website or in the App, in very well designed and modern sites.
It is true that many operators offer live streams, but Bet365's is considered one of the best in the world. Through these, you can follow many championships and, of course, make the best live bets.
Bet365 website in 2006 (left) and 2022 mobile version (right)
Within the functionalities, you will have no problems finding the resources you are used to. This is the case with personalized bets, statistics or the possibility of cashout. The operator also offers the possibility to edit your bets, something not so usual on other sites.
Of course, in this house you will also find all the types of bets you are looking for. We are, of course, talking about markets such as the final result, corners, total goals, cards or handicaps.
Bet365 is one of the bookmakers that accept most payment methods. And of course: there are also bonuses for new customers, both for those looking for gambling and for those looking for a casino.
In case you have any problems, this house offers one of the best customer support on the market, with a live chat and e-mail. There, you will find a specialized team that will help you to solve any difficulty.
