The Times recently unveiled its 2025 UK Tax List, revealing that two major players in the gambling industry secured spots in the top three. Fred and Peter Done of Betfred, alongside Denise, John, and Peter Coates from bet365, ranked as some of the country’s highest taxpayers, contributing hundreds of millions to the UK Treasury.
- Fred and Peter Done (Betfred): Paid £273.4 million in taxes, moving up two spots from last year.
- Denise, John, and Peter Coates (bet365): Maintained their third-place position, contributing £265 million.
- Chris Hohn (Children’s Investment Fund Management): Topped the list with a staggering £339.5 million tax contribution.
A Brief History of the Tax Giants
Fred and Peter Done founded Betfred in 1967 with just one shop in Salford, Manchester. Over the decades, they transformed the company into one of the UK’s largest independent bookmakers, with hundreds of betting shops nationwide and a significant online presence. Despite industry challenges, their business remains a key player in the gambling sector.
Meanwhile, bet365, headquartered in Stoke-on-Trent, was established in 2000 by Denise Coates, who built the business from scratch with a £15 million loan from the family firm. Today, bet365 is one of the world’s leading online betting companies, employing thousands of people and generating billions in annual revenue. Denise Coates has long been recognized for her record-breaking salary packages and substantial contributions to the UK’s economy through taxes.
Tax Contributions Over Time
The Coates family consistently ranks among the UK’s top taxpayers. Last year, they paid £375.9 million, which was higher than their current contribution. Despite a slight drop, bet365’s recent FY2024 financial report showcased significant profit gains, indicating a strong market position.
On the other hand, Betfred’s tax contribution jumped from £204.6 million last year to £273.4 million, reflecting their improved turnover despite facing a sharp 98.7% decline in operating profit during their 2023 financial year.
Why This Matters
The high tax contributions from gambling industry leaders highlight their impact on the UK economy. With the government recently opting not to increase gambling duties, operators like Betfred and bet365 continue to play a pivotal role in maintaining public finances.
Despite occasional criticism, their tax payments demonstrate significant financial responsibility and underscore their influence within the business landscape. As the industry faces evolving regulations and market demands, these companies remain at the forefront of both innovation and economic contribution.
By continuing to adapt and innovate, Betfred and bet365 show no signs of slowing down in their growth trajectories. Their substantial tax payments not only contribute to the economy but also reflect the resilience of the UK gambling sector.
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