Bet365 ownership structure and the Coates family
Bet365 is majority owned by Denise Coates, and this global wagering superpower has a very different ownership structure and story. Ownership within the Australian bookmaking industry continues to consolidate with corporate entities owning multiple brands. Not Bet365 though.
Denise Coates majority owner of Bet365
Unlike many Australian betting sites, Bet365’s ownership is contained to the one family. Bet365 is majority owned by British businesswoman Denise Coates. Coates founded and continues to run Bet365 and owns 50.01% of the company. In 2019, Coates’ salary was recorded at $617 Million AUD and she has an estimated net worth of $12.2 billion.
Despite her business stature, 52 year old Coates lives a relatively quiet life in Cheshire, England. Her salary and net wealth has attracted its fair share of criticism despite donating $190 million to a string of charities through her own philanthropic venture, the Denise Coates Foundation.
Other significant owners
John Coates, Denise’s brother, runs the company in conjunction with his sister. John Coates owns a 25% share in Bet365. John has amassed a personal fortune of an estimated $1.3 billion.
The family patriarch, father Peter Coates, also had a hand in founding the Bet365 business. Peter Coates is chairman of Bet365 and also a part owner.
How Bet365 started
The Coates family has a long history of bookmaking. Denise Coates worked as a cashier at Provincial Racing, the family business. After a period of years turning around the fortunes of the family betting shops, Denise Coates was appointed as managing director of the betting shop estate. In 2000, Denise left the family business to found and develop Bet365.com. The Coates’ family worked from a portable cabin in a Stoke car park while developing the new online betting site. In 2001, Bet365 launched.
Now in 2020, Bet365 is one of the largest bookmakers in the world. They have more than 35 million customers around the globe and employ an estimated 4,300 people. In 2019, Bet365’s reported revenues of $5.8 billion AUD.
Bet365 Australia is a division of Bet365 and operates on the bet365.com.au domain. One peculiarity of the Bet365 Australia business is that they do not advertise bonuses and promotions, a tactic that has been employed by the parent company since its inception to attract new customers.
Bet365 and the Coates family has a long and proud affiliation with Stoke-on-Trent. Father, Peter Coates, was born in Stoke, and even today, Bet365 continues to operate from the Staffordshire base.
Stoke City FC
Peter Coates is also the current owner and chairman of Stoke City FC. On his second stint as chairman starting in 2005, Peter Coates turned around the fortunes of the Club from a middling Second Division team to later spend 10 years in the English Premier League. In 2018, Stoke City FC was relegated to the Championship Division of English football.
Stoke City’s home ground is the former Britannia Stadium, now named Bet365 Stadium.