Bet365 founders soar up UK rich list amid speculation of a £9bn sale
The Coates family, founders of bet365, have once again captured headlines with their impressive climb up the . As speculation mounts over a possible sale of the online gambling giant, let’s take a closer look at their journey, the shifting fortunes of other gambling entrepreneurs, and what the future might hold for bet365.
The Coates family’s rise on the rich list
This year, Denise Coates, her father Peter, and brother John secured the 16th spot on the Sunday Times Rich List, boasting a fortune of £9.45 billion. That’s a leap of four places from their 20th position in 2024, and it marks a return to the same rank they held in 2022 and 2023.
Their wealth has grown by nearly £2 billion in the past year alone, making them one of the most prominent families not just in the UK, but also in the West Midlands, where only Lord Bamford of JCB narrowly edged them out for the top regional spot.
The Sunday Times Rich List ranks the 1,000 wealthiest people or families in the UK by net wealth. This year’s list saw the Coates family just behind Anthony Bamford, founder of JCB, and ahead of oil magnates Carrie and François Perrodo.
Their story is particularly remarkable given bet365’s humble beginnings. The company started in a portacabin in a car park in 2000, with Denise Coates later going on to borrow £15 million against her family’s betting shop estate to launch the online brand.
Gambling entrepreneurs climbing the ranks
The Coates family aren’t the only gambling moguls making waves. The 2025 Rich List features several other notable names from the sector:
- Ian and Richard Livingstone, with a stake in Evolution, landed at 34th with £5.73 billion, though this was a drop from 28th last year.
- PokerStars founder Mark Scheinberg climbed from 41st to 38th, holding £5.08 billion.
- Betfred’s Fred and Peter Done saw a significant jump, moving from 76th to 57th with £2.92 billion.
- Michael Tabor (BetVictor) and Ruth Parasol (PartyGaming) also featured, with fortunes of £800 million and £780 million, respectively.
- Tony Bloom, known for his poker prowess and the StarLizard consultancy, rose to 213th with £721 million, while Director/Board Member of bet365, Will Roseff, rounded out the gambling contingent at 254th with £579 million.
This upward momentum reflects the continued strength of the UK’s gambling sector, even as the number of billionaires in Britain has dipped for the third consecutive year.
Is bet365 heading for a sale?
The publication of this year’s Rich List comes amid swirling rumours about bet365’s future. Reports from The Guardian and other outlets suggest the Coates family is considering a sale, IPO, or partial sale of the business, with a potential windfall of £9 billion on the table. “Internal informal talks weighing the options for a sale, IPO or partial sale of the company have taken place,” according to The Guardian.
One option said to be on the table is a partial sale to a private equity group, which would let the Coates family hold on to part of their stake in bet365. Another possibility is a listing on the US stock market, an avenue that could bring in major investment and open the door to America’s fast-growing sports betting scene.
The company has already held talks with US advisers and Wall Street banks, and recent strategic moves, such as exiting the Chinese market and transferring ownership of Stoke City FC to John Coates, are seen as steps to streamline operations and enhance appeal to US investors.
Industry experts have noted that bet365’s valuation appears “slim compared to listed peers DraftKings,” and some believe the company’s recent actions suggest a broader strategic overhaul is underway. As Ed Birkin of H2 Gambling Capital put it, “When they announced they’re getting out of China, that seemed as though they were just tidying up shop completely for something to happen… with the football club combined, I think it’s kind of hinted to this”.
Strong financials amid ongoing speculation
Financially, bet365 is in robust health. For the year ending March 2024, the company reported revenues of £3.72 billion and a pre-tax profit of £626.6 million-a sharp turnaround from a loss the previous year. Under Denise Coates’s stewardship, bet365 has grown from a small operation in Stoke-on-Trent to a global leader, now operating in 13 US states and seeking further growth opportunities.
While speculation continues, one thing is certain: the Coates family’s rise in wealth is drawing as much attention as the uncertainty surrounding bet365’s next move. Whether the company remains under family control or takes a different path, its influence on the gambling industry and the legacy of its founders is unlikely to fade anytime soon.
