Billionaire betting company Bet365 has hit the top spot in the Sunday Times Tax List for the third time in as many years.Denise Coates co-owner of Bet365 with brothers Peter and John contributed £480m in tax contributions during 2021. The Sunday Times Tax List saw a surge in numbers of £100m plus taxpayers.
Included in the Tax Bill
Bet365 tax bill includes corporation tax, employee’s national insurance, gambling duties, and personal tax paid by Denise Coates on her estimated £421.2m income accrued in 2020.Bet365’s reputation in becoming the largest and most trustworthy betting business is largely due to Denise’s commitment and leadership to its online and land-based outlets.Included in the Top ten are Betfred’s founders the Done brothers Fred and Peter and the Apprentice and property tycoon Alan Sugar. The Weston family who own Fortnum and Mason and who recently sold Selfridges contributed $235mn.The top ten listed industry veterans contributed £170m in taxes, from a combined wealth of £1.2b. In 2021, the combined tax generated reached £2bn which is a welcome relief after the closure of many retail outlets and the restrictions on sporting events.
Bet365 has gained a stellar reputation within the UK. In 2021 Bet365 was the top donor for the gambling awareness charity GambleAware and in 2022 renewed its partnership with sports data and technology company Genius Sport.In total, the top 50 British taxpayers have contributed £3.7bn from the previous figure of £3.2bn, with the minimum payment required to make the list £15.2m.