The year 2011 was a year not to forget for the privately owned online casino and sportsbook operator Bet365. They have now become the largest in the UK after its impressive financial results of 2011 posted a 22% year-on-year increase in revenues to a massive £501 million!
Much of the success of bet365 was accredited to its new popular new in-play wagering offering which saw bets rise 58% compared to the previous twelve month period.
Bet365 announced a pre-tax profit for 2011 of £91 million despite having to absorb £7.4 million in losses from its stake in English Premier League Football Club Stoke City.
Bet365is owned by the Coates family and was established by 73 year-old Denise Coates and Peter Coates who serves as the Chairman of the soccer club.
According to the Guardian newspaper the Coates family took out a £25 million dividend for the third consecutive year. Denise Coates received pension payment contributions of £4.5 million.
Bet365 is currently the last major online bookmaker who has remained on the UK mainland. Rivals Ladbrokes and William Hill have moved operations offshore which resulted in hundreds of jobs lost.
Bet365 also has operations in Gibraltar where it has bingo, casinoand poker wagers. It has also been checking out new possibilities in the newly opened markets of Spain, Australia and the Netherlands.