UK’s Most Popular Gambling Site Owners Are Paying Big in Taxes

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For the first time ever, the Sunday Times released a list of the highest taxpayers in the United Kingdom. Interestingly, the UK’s most popular gambling site owners ranked second. Bet365 is clearly doing well. What does that mean for the UK online gambling market as a whole?

Bet365 Owners Listed as Second-Highest Taxpayers in the UK

The Sunday Times has covered the richest individuals in the UK for years. This was the first time in the newspaper’s history that they listed tax contributions. The tax estimates were based on business profits, dividends, personal income, and more.

According to the Sunday Times, Stephen Rubin and his family are the UK’s biggest taxpayers at £181.6 million ($239,039,196 USD) for the 2017-18 year. Rubin holds a majority stock in JD Sports and owns a number of different sports and fashion brands.

Bet365 owner Denise Coates, along with her brother John and father Peter came in second as the UK’s highest taxpayers. They paid an estimated £156 million last year, not including taxes paid overseas. These taxes were primarily paid by Denise Coates, who’s said to have the highest annual salary in all of the UK at £99 million.

UK’s Most Popular Gambling Site Continues to Grow

Bet365 has been the UK’s top online gaming site for years. They are continuing to grow, with a reported revenue increase of 25% during their last financial year totaling to £2.86 billion. The majority of the revenue they generate comes from their online sportsbook offering odds on just about every major sporting event taking place around the world.

Football (soccer) betting is the most popular sport to bet on at Bet365. More than £1 billion was earned on football betting last year. Horse race came in second with £610 million, and tennis in third with £144.6 million. It’s important to note that Bet365 also offers fantastic online casino and bingo wagering options.

The fact that Bet365 owners are the second-highest taxpayers in the UK shows just how strong the UK gambling market is right now. Online gambling is reported to have made up £5.3 billion of the £14.4 billion revenue earned from the entire gambling industry here from April of 2017 to March of 2018.

Is there anything that might impact the progression of online gambling in the UK?

Future of Internet Gambling in the UK

The UK clearly has one of the strongest online gambling markets in the world. Many of the world’s best internet gaming sites are based here, and land-based betting shops around the country are being closed as more people choose to make their bets online.

Statistics prove that more people are betting online here each year.

We recently covered how Brexit might affect the UK’s online gambling industry. With a deal between the UK and Europe still not established, there are many questions that remain unanswered on how the country will be impacted. Overall, it’s unlikely that Brexit will have any major effects on the internet gambling industry here.

Bet365 is one of the few major online gambling sites to keep their headquarters in the United Kingdom. If the success of this company is any indication, the online gambling industry in the UK will continue to thrive for the foreseeable future.

Make sure to check out our Bet365 review, knowing that it is the UK’s most popular gambling site, and let us know what sporting event you plan to bet on this year in the comment section below!

Kevin Oldroyd

A longtime sports and gambling enthusiast, Kevin looks to present up-to-date and reliable information for readers. If he’s not writing, he’s probably watching MMA or playing blackjack. ...

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