You never see a poor bookie: Bet365 owner's salary

[Lendo]

(admin's please move to the Holy Ground if not allowed, but kinda football related)

https://www.bbc.co.uk/news/business-46289499

The boss of Bet365 took home an annual salary of £265,000,000 in 2017 (net? gross?). This is obscene and just highlights the issue of gambling in the UK.

Any idea whether she is taxed in the UK or is she paid off-shore?

[Jones28]

That is a daily salary of £726,027.

Daily.

[Hibee87]

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(admin's please move to the Holy Ground if not allowed, but kinda football related)

https://www.bbc.co.uk/news/business-46289499

The boss of Bet365 took home an annual salary of £265,000,000 in 2017 (net? gross?). This is obscene and just highlights the issue of gambling in the UK.

Any idea whether she is taxed in the UK or is she paid off-shore?

Bet365 is a worldwide bookmaker is it not? or at least available in a lot of countries online. Wither you agree with bookmaking or not, if she has founded a company and thats what she earns, so what?

Bill Gate, Steve Jobs, Stev Wozniaki, Richard Brason etc etc are or were worth how many billions for their own companies. Why is this woman any different or less entitled to have that much?

I guarantee no one on here would reject that wage.

Wonder what the 'womans equal pay' cult think about it all

[Devonhibs]

And pay themselves a 'dividend' thereby paying no tax. Yippee for some

[bingo70]

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(admin's please move to the Holy Ground if not allowed, but kinda football related)

https://www.bbc.co.uk/news/business-46289499

The boss of Bet365 took home an annual salary of £265,000,000 in 2017 (net? gross?). This is obscene and just highlights the issue of gambling in the UK.

Any idea whether she is taxed in the UK or is she paid off-shore?

She is the founder of the company isn't she?

If so i don't see the problem. She's started and created a very successful business, it's not coming out of public funds so why shouldn't she get paid such a significant sum?

[Lendo]

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Bet365 is a worldwide bookmaker is it not? or at least available in a lot of countries online. Wither you agree with bookmaking or not, if she has founded a company and thats what she earns, so what?

Bill Gate, Steve Jobs, Stev Wozniaki, Richard Brason etc etc are or were worth how many billions for their own companies. Why is this woman any different or less entitled to have that much?

I guarantee no one on here would reject that wage.

Wonder what the 'womans equal pay' cult think about it all

I agree with you. She has done very very very well for herself and i am hugely jealous.

BUT

There was national outrage at the boss of Persimmon Homes paying himself a £100m bonus, which he later reduced to £75m (on top of his £40m salary). Why no moral outrage at Denise Coates inflated salary?

She is no different to these people. She in fact vastly outearns Stev Wozniaki and Richard Branson (in terms of declared salary, perhaps not Net Worth). She paid herself over double what her whole business paid in tax in the UK last year (£130m). Gambling addiction costs the UK about £1.2b a year. Bet365 have made a massive donation of 0.144% of their turnover to gambling charities.

[tam4hibs]

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And pay themselves a 'dividend' thereby paying no tax. Yippee for some

Not so im afraid. I know most will want to paint her as corporate fat cat who reduces tax through legitimate means, however Dividends are taxed up to 38% - similar to income tax thresholds.

[JeMeSouviens]

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She is the founder of the company isn't she?

If so i don't see the problem. She's started and created a very successful business, it's not coming out of public funds so why shouldn't she get paid such a significant sum?

No, it's her Dad's company. Still family owned though I think. They also own Stoke City.

[Renfrew_Hibby]

She's done well for herself, well it was her fathers business she converted from an old fashioned high street bookies to an online only giant. A smart cookie it would seem.
The Coates family own Stoke City so although they got relegated I doubt they will ever get into serious financial trouble while they are in charge.
Bet365 is a global player so only a proportion of her earnings will be off the back of UK gamblers and I heard somewhere that she has personally donated around £70M to various charities over the last few years so its not all bad.

[CapitalGreen]

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No, it's her Dad's company. Still family owned though I think. They also own Stoke City.

Her Dad owned a chain of High Street bookies, she was responsible for setting up Bet365.

[JeMeSouviens]

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I agree with you. She has done very very very well for herself and i am hugely jealous.

BUT

There was national outrage at the boss of Persimmon Homes paying himself a £100m bonus, which he later reduced to £75m (on top of his £40m salary). Why no moral outrage at Denise Coates inflated salary?

She is no different to these people. She in fact vastly outearns Stev Wozniaki and Richard Branson (in terms of declared salary, perhaps not Net Worth). She paid herself over double what her whole business paid in tax in the UK last year (£130m). Gambling addiction costs the UK about £1.2b a year. Bet365 have made a massive donation of 0.144% of their turnover to gambling charities.

He didn't really pay himself a £100M bonus. He was signed up to an incentive plan that gave him access to discounted shares. Because the share price soared he (and other execs in the scheme) made that level of fortune. If the share price had tanked he'd have got nothing. It was impossible for the company to know how much he'd get when he was given the incentive.

[JeMeSouviens]

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Her Dad owned a chain of High Street bookies, she was responsible for setting up Bet365.

Ah right, thanks for the correction. Either way it's a privately held company so they can pretty much do what they like.

[Future17]

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I agree with you. She has done very very very well for herself and i am hugely jealous.

BUT

There was national outrage at the boss of Persimmon Homes paying himself a £100m bonus, which he later reduced to £75m (on top of his £40m salary). Why no moral outrage at Denise Coates inflated salary?

She is no different to these people. She in fact vastly outearns Stev Wozniaki and Richard Branson (in terms of declared salary, perhaps not Net Worth). She paid herself over double what her whole business paid in tax in the UK last year (£130m). Gambling addiction costs the UK about £1.2b a year. Bet365 have made a massive donation of 0.144% of their turnover to gambling charities.

I think the Persimmon story caused more outrage as the company had essentially benefitted from public money, due to their partnership in "Help-to-Buy" schemes and the like.

The comparison re: Bet365 would probably be a moral one regarding whether the company profits from addiction.

[Kojock]

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And pay themselves a 'dividend' thereby paying no tax. Yippee for some

Company employs 4000 people and it pays all it taxes.

[Northernhibee]

Depends. If those at the lowest end of the company can’t afford to pay their bills that salary can get ****ed.

[CropleyWasGod]

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I think the Persimmon story caused more outrage as the company had essentially benefitted from public money, due to their partnership in "Help-to-Buy" schemes and the like.

The comparison re: Bet365 would probably be a moral one regarding whether the company profits from addiction.

...and also the moral argument as to whether the State profits from it.

That's another thread though

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[green day]

Rather ironically, this story broke on the same day it was reported that there are 50000 children gambling in the UK.

https://www.bbc.com/news/business-46286945

So, whatever your thoughts on gambling (I gamble a little) there is definitely an issue when the owner of an online bookies makes over £4m a week in profit, pretty much every football team is sponsored by online bookies, and we have that many kids gambling illegally.

[cabbageandribs1875]

odds of 1/25 she'll be a multi-billionaire in the next few years

[Brightside]

Its her own company. She built it from scratch. It employs 1000s of staff. Well done to her.

[Future17]

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...and also the moral argument as to whether the State profits from it.

That's another thread though

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Good point!

[Onceinawhile]

It wasn't a salary - it was her total remuneration e.g. a mixture of salary and dividends.

As for the dividends not being taxable, that's certainly true of the first £2,000. The remainder however would mostly have been taxed at 38.1%, saving her 6.9% tax compared to if she had taken it all as salary. Of course, there's also the 2% NIC saving, meaning she saved 8.9% on it. That's hardly mass tax avoidance or evasion though.

[Brightside]

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And pay themselves a 'dividend' thereby paying no tax. Yippee for some

Paying no Tax? Im assuming you arent self employed? Those that are pay a shed load of tax on Dividends.

[Onceinawhile]

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Paying no Tax? Im assuming you arent self employed? Those that are pay a shed load of tax on Dividends.

Technically, people who are self-employed can't pay dividends.

Owners of their own LTD company can though.

[Pete]

It’s absolutely disgusting that someone has that amount of wealth when you consider the poverty that so many people live in.

Something is fundamentally wrong.

[delbert]

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(admin's please move to the Holy Ground if not allowed, but kinda football related)

https://www.bbc.co.uk/news/business-46289499

The boss of Bet365 took home an annual salary of £265,000,000 in 2017 (net? gross?). This is obscene and just highlights the issue of gambling in the UK.

Any idea whether she is taxed in the UK or is she paid off-shore?

Any mug who goes online and forks over their cash at least now sees where it’s going, transparency and all that, don’t see the problem, she has done well for herself !

[SChibs]

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It’s absolutely disgusting that someone has that amount of wealth when you consider the poverty that so many people live in.

Something is fundamentally wrong.

Capitalism?

[flash]

Fortunes made on the back of feeding people's addiction.

[bookert]

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It’s absolutely disgusting that someone has that amount of wealth when you consider the poverty that so many people live in.

Something is fundamentally wrong.

Especially when the industry she is part of is responsible for at least part of that poverty.

[Devonhibs]

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Paying no Tax? Im assuming you arent self employed? Those that are pay a shed load of tax on Dividends.

Clearly I misunderstood the role of dividends and wasnt a dig at the majority of self employed

[Tornadoes70]

Betfred hiding behind an excuse that the machine had a 'glitch' in not paying out 1.7 million. As the man says how many times was there a 'glitch' when it took his losing money? Pay the man its not his fault the machine allegedly had a 'glitch'. Shocking and hope he wins his day in court but I suspect he'll be offered a huge sum before any legal ruling. No wonder the bookies are mega rolling in the stuff.

https://www.msn.com/en-gb/news/uknew...ing/ar-BBPZgxG