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

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

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

But the increase comes as the yohaig code industry faced mounting criticism, consisting of over kids gambling.

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The independently held company is owned jointly by Ms Coates and members of her direct household, including her brother John, who is joint chief executive, and her father Peter, the firm's chairman.

Ms Coates made a first-rate degree in econometrics - the application of analytical techniques to economic data - from Sheffield University before signing up with the High Street betting firm, run by her daddy.

She recognized the potential of online betting in 2000 and invested in the domain Bet365.com so that she could drive the family service because instructions.

Bet365 made 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 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, that made a loss of ₤ 8.7 m in the year.

The High Pay Centre, a think tank which keeps an eye on earnings, said 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 appears like cynical timing, sneaked out directly after a general election campaign where excess wealth, taxes on the abundant and the large gap between those at the top and everyone else have actually been key problems."

He included: "Business success must be incentivised and rewarded, but a payment a fraction of this size would still pay for a way of life beyond the wildest dreams of the majority of people."

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

Child gaming

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

The research study stated this promotion code was "especially concerning, given that across the yohaig code UK, most kinds of industrial betting are only legal for those aged 18 and over".

Fruit machines were the most popular form of betting, followed by playing cards for cash with pals and scratchcards.

Dr Graham Moore of the Centre for the yohaig code Development and Evaluation of Complex Interventions for Public Health Improvement said at the time: "The evidence reveals that individuals who gamble earlier in life are more likely to end up being problem gamblers in the adult years."

However, a Gaming Commission study in October, external suggested that 11% of children had actually bet within a week of the study being conducted.

But in addition, the regulator cautioned in July, external of research that showed links in between "issue gambling and suicidal thoughts or attempts".

Bet365 states it has "an undeviating commitment to deliver industry-leading methods to gamer defense", consisting of monitoring client gambling, and states it will "terminate the [consumer] relationship if it feels the threat of damage is expensive".

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15 October 2019