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The multibillionaire boss of gambling company Bet365 has collected annual pay and dividends of more than £260m – one of 🍐 the world’s biggest-ever pay awards but less than the record-breaking £471m she collected in 2024.

Denise Coates, who set up Bet365 🍐 in a portable building in Stoke-on-Trent in 2000, was paid a salary of £213m in the year to March 2024, 🍐 according to the company’s latest accounts published on Friday. As the company’s controlling shareholder she is also entitled to at 🍐 least 50% of the £100m in dividend paid for the year.

While her £263m pay is huge – and works out 🍐 at just over £1m for every working day of the year – it is 12% less than the £300m she 🍐 collected in 2024, as the company paid out less profit while spending millions on international expansion plans.

It takes the total 🍐 paid to Coates since 2024 to almost £1.5bn.

Her extraordinary pay package regularly ranks among the highest in Britain and will 🍐 maintain her status as the world’s best paid woman at a time when many in the UK and across the 🍐 globe are struggling to cope with the rising cost of living.

Luke Hildyard, the director of the High Pay Centre, which 🍐 campaigns for restraint in excessive executive pay, said it was “hopelessly inefficient for such a huge amount of income to 🍐 accrue to one individual” when so many people in Britain were “going through such hardship”.

He added: “A payment this size 🍐 is obviously vastly more than necessary to encourage or reward success. Even the best business leaders depend on things beyond 🍐 their control like an educated workforce, affluent customers and a stable economy. There really is no moral or economic justification 🍐 for such extreme payouts and the inequality and division that they create.”

Coates built Bet365 into one of the biggest online 🍐 gambling companies from her father Peter’s Stoke-on-Trent bookmaking business. It has propelled her, her father and her brother, John, into 🍐 the ranks of the UK’s richest people, with a combined fortune of £8.6bn according to the Sunday Times Rich List, 🍐 which featured her on the cover of the latest edition.

In the latest financial year, Bet365’s profits dropped significantly. It made 🍐 a pre-tax profit of £49.8m for the year (after a £26.2m loss from its ownership of Stoke City Football Club). 🍐 That was significantly less than the £469m profit reported in the previous year.

Gambling revenues increased by 2% during the year 🍐 to £2.85bn. Sports betting revenues fell by 2% but its online games revenues jumped by 25% during the year to 🍐 make up the lost ground.

The drop in profits was largely driven by £320m in extra “administration expenses” that included advertising 🍐 in new markets and spending on extra computers for expansion. It reported launches in Argentina’s capital, Buenos Aires, the Netherlands, 🍐 and in Colorado and Ontario in North America.

Bet365’s staff numbers rose to almost 6,100, up from 5,400 the year before.

The 🍐 company did not respond to requests for comment.

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After graduating with a first-class degree in econometrics – the application of statistical methods to economic data 🍐 – from the University of Sheffield, Coates expanded the family’s Provincial Racing chain to nearly 50 betting shops.

As the millennium 🍐 approached, she decided the future of betting was online and bought the Bet365 domain on eBay forR$25,000 (£19,000), a move 🍐 that helped catapult her and her family up the UK wealth league.

Coates was awarded a CBE in 2012 for services 🍐 to the community and business, and has become known as the “patron of the Potteries” for her decision to continue 🍐 to base Bet365 in Stoke, where it is the largest private sector employer.

“We mortgaged the betting shops and put it 🍐 all into online,” she said at the time. “We knew the industry required big startup costs but we gambled everything 🍐 on it.”

The revelation of her latest mega payday came just days after research showed the bosses of Britain’s biggest companies 🍐 made more money in 2024 by Thursday afternoon than the average UK worker will earn in the entire year.

Paul Nowak, 🍐 the general secretary of the TUC, the unions’ umbrella body, called on the government to intervene to “bring back some 🍐 fairness on pay” as many lower-paid workers struggle with swingeing real-term cuts to their income.

“Everyone deserves a fair day’s pay 🍐 for a fair day’s work. But while working people are told not to ask for more, top pay is soaring,” 🍐 he said. “We need government action to bring back some fairness on pay. Workers should have seats on executive pay 🍐 committees to bring some common sense to top pay. And ministers must set out plans for fair pay for everyone, 🍐 starting by agreeing to pay negotiations in the public sector.”

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