Football’s biggest sponsor gives back to the fiscus

The Sunday Times Tax List, The Times’ yearly analysis of the UK’s highest taxpayers, is now available. Denise Coates, the CEO of betting company bet365, is the name right at the top of the list. This list is prepared once every year and comprises of the 50 highest taxpayers in the country. A lot of the names among the top ten are usually repeats. Denise Coates’ name has been in the number 1 position for three years consecutively now.

In 2021, the Coates family paid £481.7 million (US$646.68 million) in taxes to the United Kingdom. This was just under $268.44 million more than Chris Rokos, a hedge fund manager who took the number 2 spot having paid $402.66 million in tax. 

The list for 2022 surpassed the 2021 list in terms of how much total tax was paid by the top 50 contributors. The overall haul has increased by more than a staggering $670.85 million. However, the total tax paid by Coates for 2022 was actually lesser than what was paid in 2021 ($768.96 million).

Allegations of a malfunctioning tax system

Despite the fact that the total tax paid by the top 50 contributors went up $5.96 billion in 2021 (which was an increase of over $683 million from 2020), some are of the opinion that the tax system isn’t right and the rich and powerful actually get a lot of slack. One person with such a view is George Dibb, the head of the Institute for Public Policy Research Center for economic justice. In his statement, Dibb alleged that it is pretty easy for the wealthiest people in the country to either pay very little or zero tax.

Dibb and the Institute for Public Policy Research Center for economic justice have advocated for a wealth tax and a reform of the country’s tax slabs. They have just not gotten considerable backing from legislators yet. According to the IPPR, some of the actual richest people in the country are not named on the list at all. The group pointed out one such example – Sir Len Blavatnik. He is worth $30 Billion and is easily one of the top 50 richest in the UK, but his name makes no appearance on the list of the top 50 tax contributors in the country.

Coates is not the only gambling operator on the list

Bet365 is just one of over 1000 operators plying their trade in the UK. There is no shortage of competitors, but the Bet365 brands has risen to the top in both its no deposit casino offering and its world class bookmaker business.

On the top 50 list, Coates’ name is not the sole gambling – related one. In fifth position come Fred and Peter Done who run Betfred’s. They made a tax contribution of $228 million. Coates is now estimated to be worth $10.7 billion. Her yearly wages from bet365 amounted to $564.4 million in 2021.

A brief review of Bet365 for sports betting

Bet365 is arguably the world’s finest online sportsbook at this time. One of the biggest appeals of the platform is the fact that members can watch sporting events via free HD live streaming on the platform. Furthermore, apart from offering betting on 35+ different types of sports, patrons can also indulge in various types of online casino games, bingo and poker for real money.

New players are welcomed with a handy bonus to get them off to a winning start and the website offers various safe and secure banking options such as credit card, Skill, Neteller, Bank Transfer, etc. through which bettors can fund their accounts and use the monies to bet on their favorite sports or play casino games.

On the downside, the customer support department could be a little more streamlined in terms of their time to respond. It is apparent that support agents are almost always tied up and people trying to get through to them generally have to hold for several minutes. Having said that, members can reach out for help via live chat which is more convenient than phone support. Another drawback is that unlike most online betting and gaming operators, the Bet365 website does not specify details of how the loyalty program works. All we know is that eligible players are supposedly contacted by customer support and rewarded.

The website layout is practical and user-friendly. Whether you are a total beginner or a seasoned online sports bettor, the learning curve at Bet365 is very gentle and it’s fairly easy to figure out how to add bets to the betslip, adjust your stake amount and confirm bets. The website is also 100% mobile friendly, irrespective of whether you are using iOS, Android or Windows. The company has published dedicated mobile apps which one can download for betting on the move. The registration process is really simple and only takes a couple of minutes to get your account up and running.

Founded in 2000, bet365 has long established itself as one of the betting industry’s heavyweights, and with millions of players worldwide, this bookmaker enjoys a degree of success that few others can match.

Football’s biggest sponsor gives back to the fiscus

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