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Latest accounts show £1billion of bets placed each week at just one betting firm

3 months ago
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An incredible £1billion of bets was placed on average last year with Bet365.

Their financial year ending 25 March 2018 has just been made public and they showed a total of £52,559,570,000 was wagered with the company over a 52 week period.

The owners of Bet365 are also the owners of Stoke City and they have been financing the club’s losses.

The Coates family control the firm and founder Denise Coates alone, was paid £220m last year, plus a £45m bonus in dividends.

Lecturer in football finance Kieran Maguire:

‘Punters bet over £1 billion a week last year with Bet365, who made an annual profit of £2.85 billion on those bets. Employee numbers rose by 400 & wage bill up 27% to £745 million, average  pay for a Bet365 employee was £175,000, distorted by board pay of £333 million.’

These latest figures showing Bet365’s ever increasing success, have though coincided with a worrying report on children with gambling problems.

The Gambling Commission study claims that the number of children classed as having a gambling problem, has quadrupled to more than 50,000 in just two years.

The study suggesting that 450,000 children aged 11 to 16 bet regularly, more than those who have taken drugs, smoked or drunk alcohol.

The analysis also suggested that one in seven boys followed betting brands on social media.

Betting on football and the rampant advertising of it during and around matches on TV, has been noted as a particular concern.

The Bet365 adverts featuring Ray Winstone a regular feature of live televised matches, including those shown during the day.

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