Denise Coates, Britain’s richest woman, is the founder and joint chief executive of online gambling giants bet365. In his Guardian article ‘The ultimate gambler? How Denise Coates became Britain’s richest woman, Rob Davies’ investigation of Denise Coates’ ascent to becoming Britain’s wealthiest woman delves into the age-old question of the trade-off between personal success and the harm it may cause to others.
Top-secret hideaway
First, Davies presents an overview of a top-secret lair in leafy Cheshire, which is equipped with all the luxuries and executive toys that you’d expect Britain’s richest woman to own. Helicopters, a ‘mythical’ Aston Martin DB9 sports car and a treehouse with a zip wire. The construction of the complex, which was supervised by the architect Norman Foster, responsible for iconic structures such as London’s Gherkin, Berlin’s Reichstag, and the jewel in England’s football crown, Wembley Stadium, took five years and cost around £90 million.
Exasperated locals, feathers ruffled, appear to have bought into the good versus bad trope. In Davies’ article, one local bemoans the disruption during the renovations and says: “At least she re-tarmacked the road–but she could have brought round a bottle of wine.” Many of the surrounding neighbours sold their land to Coates, who reportedly spent £8.5m so no one could overlook her property.
The Denise Coates Foundation
Despite the controversial nature of her company, Denise Coates, who established bet365, is renowned for her philanthropic deeds. The Denise Coates Foundation, established in August 2012, has received close to £752m from her, supporting various causes, including medical research, disaster relief, and education initiatives. However, charities focused on gambling-related harm have not received support from the foundation, although bet365 contributes to such services through a voluntary industry levy.
Coates’ charitable contributions extend to local projects, including significant donations to the Douglas Macmillan hospice in Stoke-on-Trent and Keele University. Her generosity is well-documented, with several institutions bearing her name as a testament to her financial support.
In his article, Davies points out that whilst ‘amassing an endowment fund of £730m through cash injections from companies in the bet365 group,’ The Denise Coates Foundation has donated around £78m since 2013. The fund also lost £26.8m in the last financial year. Analysis by The Guardian suggests the bet365 group might have avoided paying £140m in taxes, which is far higher than the amount it has contributed to charitable causes.
Aspirations of global domination
Looking to the future, Denies Coates seems to have her sights set on expanding bet365’s reach. The company’s growth trajectory is impressive, with operations now extending beyond the UK to multiple countries, including ten US states following the Supreme Court’s 2018 ruling that legalised sports betting. The potential for growth in the US market is vast, with analysts speculating that California alone could become a larger market than the entire UK gambling sector.
China: A grey area?
Despite bet365’s refusal to disclose geographic earnings data, previous Guardian investigations suggest that a significant portion of the company’s income may stem from markets such as China, where gambling remains illegal, yet the demand is enormous.
Bet365’s presence in “grey markets,” like China, raises ethical questions about the company’s practices. Although there are reports of customers being arrested for using bet365’s platform, the company asserts it has no physical presence or assets in China, allowing it to evade regulatory repercussions.
Meanwhile, bet365 continues to recruit Chinese-speaking staff for its call centres in Stoke, reflecting its commitment to servicing this lucrative market. The company owns substantial real estate in Stoke, demonstrating its investment in local infrastructure while also accommodating its international workforce.
The impact of gambling advertising on addiction
Gambling addiction is a complex issue that affects not only individuals, but also their families and communities. Davies’ article presents experiences of those in recovery, including Sammy, a former gambler who continues to receive unsolicited messages from gambling companies, and Mark, who lost tens of thousands of pounds over eighteen months.
Despite the heavy regulation by the Gambling Commission, many firms in the gambling industry fail to utilise the information they hold to protect vulnerable individuals. While bet365, a major player in the sector, has avoided significant penalties compared to its competitors, it has not escaped scrutiny. In April, the company agreed to pay £582,120 because of shortcomings in its anti-money laundering protocols and social responsibility measures.
The overwhelming presence of gambling promotions can be damaging to those trying to break free from addiction. The relationship between the gambling industry and sports is undeniable. Many football clubs now partner with betting firms, although the main logo on the shirt sponsorship is to be banned in the English Premier League by the end of the 2025-26 season.
These personal narratives underscore the urgent need for systemic reform within the gambling industry. Activists like Liz Ritchie, who founded the charity Gambling With Lives after losing her son to gambling addiction, argue that the industry profits at the expense of individuals’ lives. “Addiction underpins the industry’s business model,” she asserts, calling for greater accountability and regulation to protect vulnerable individuals.
The role of regulation and accountability
Despite recent scrutiny of the gambling industry, the regulatory framework remains inadequate. The relationship between gambling firms and politicians further complicates the landscape. Bet365 has cultivated ties with both the Labour and Conservative parties, raising questions about the influence of money in politics. The Coates family’s significant political donations highlight the power dynamics at play. This nexus between gambling companies and political figures underscores the challenges in pushing for meaningful reform.
Davies presents the stories of individuals grappling with gambling addiction, revealing the impact of this on lives and communities. As the gambling industry continues to grow, with figures like Denise Coates at the helm, the need for responsible practices and rigorous oversight is paramount. Davies effectively presents intertwining narratives of personal struggle and corporate ambition. You can find the full Guardian article here.
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