Betfred and bet365 Owners Among UK’s Top Taxpayers
Fred and Peter Done of Betfred, along with Denise, John, and Peter Coates of bet365, have emerged as some of the UK’s highest taxpayers, underscoring the significant financial contributions made by leaders in the gaming industry.
Ranking third and fourth respectively, these families have surpassed other notable figures such as Sir James Dyson and Sir Tim Martin in tax contributions, with only Bernie Ecclestone and Alex Gerko ahead.
Substantial Tax Payments to the UK Government
The Done and Coates families collectively contributed £580.5 million to the UK treasury, with the Dones paying £204.6 million and the Coates family contributing £375.9 million.
This substantial sum highlights the economic impact of the gaming sector on national finances.
Continued Success and Expansion
Despite fluctuations in their tax standings, the Coates family has consistently ranked among the UK’s top taxpayers, with Denise Coates previously holding the title of Britain’s highest taxpayer. bet365’s continued profitability, with a 19% year-on-year revenue increase to £3.39 billion in 2023, illustrates the company’s enduring success, despite reporting an operating loss attributed to increased spending.
Betfred’s growth trajectory is also notable, with expansions in the US and the launch of a new sportsbook in collaboration with Mohegan Sun in Vegas.
The list of top UK taxpayers also includes cultural icons such as JK Rowling and Ed Sheeran, who have made significant contributions of £40 million and £36 million, respectively, ranking them 31st and 32nd in the country.
Our Comment on the Gaming Industry’s Tax Contributions
The remarkable tax contributions of the Betfred and bet365 owners underscore the gaming industry’s pivotal role in supporting the UK’s economy. These payments reflect not only the personal success of the Done and Coates families but also the broader economic significance of the gaming sector.
As the industry continues to evolve and expand, both domestically and internationally, its leaders remain at the forefront of economic contribution, setting a commendable example for corporate responsibility and fiscal participation in national development.
