Bet365 Sport has become the number one online bookmaker in the UK overtaking rivals Ladbrokes and William Hill.
Financial reports released by bet365 show that profits were up to £148 million by the end of March this year. So far bet365 receives over £20 billion a year in bets placed.
In the year 2000 Bet365 was launched in the parking lot of Stoke City FC. Since then the company has grown to a multinational sports betting enterprise with casino, bingo, poker, sports betting and more on offer. It employs 2,500 people making it Stoke’s biggest private city. The company is completely loyal to the UK, it decided not to relocate offshore for lower taxation and has since paid £31 million to the Treasury.
At least 50% of bet365 is owned by Denise Coates, the daughter of Stoke City chairman Peter Coates. Last year £15 million was paid out in dividends to shareholders, £7.5 million of which went to the Coates. Since 2008 the Coates family has received over £65 million in dividend payments.
The company’s balance sheets show that it has £430 million available in cash reserves. The money is likely to be used to continue developing bet365’s local and international markets and expanding with its marketing campaigns.