Bet365 owners pay nearly-highest taxes in the UK

The Coates family, owners of Bet365, were the second-highest tax payers in the UK during 2018.

UK.- Gambling is usually seen as a major source of revenue for every administration where the segment is allowed. The UK seems to have recently posted yet another proof of how profitable gambling is for state coffers as a recently revealed list shows that Bet365’s owners were the second-highest tax payers last year.

In 2018, a report by The Sunday Times showed that company owners Denise, John and Peter Coates ranked second in tax paying money after posting a €180 million figure. Their contribution was mainly related to Ms Coates’ (joint CEO and main force behind the company) salary, believed to be the highest in the UK, which was taxed at €114.4 million.

The trio ranked second, only behind Stephen Rubin and family (€210 million), majority stakeholder in JD Sports and owner of Pentland Group. Just behind them were Sir James Dyson and family (€147.7 million), vacuum cleaner and household appliance company, while Bruno Schroder and family (€132.1 million) and Sir Jim Ratcliffe (€127.7 million) ranked fourth and fifth, respectively.