Bet365 have more than definitely established themselves as one of the major bookmakers since breaking onto the scene since it was founded by Peter Coates in 2000. Peter who is also the owner of Stoke City FC (English football team in the Premier League) is the founder of Bet365 although his daughter Denise is the one who persuaded him to get into the online betting business and is one of the main reasons to the company’s success.
They took the massive step to selling all of their betting shops to rival company Coral in a deal worth 40 million pounds. They used these funds to pay off their loan to the RBS (Royal bank of Scotland) and proceeded to become one of the world’s biggest online betting companies. In 2012 the company boasted an impressive profit of 116.5 million pounds (tax already excluded) which is a truly astonishing figure to say the company was only founded in 2000!
If they wanted to continue this incredible growth the company needed to think of other ways to bring in extra customers and therefore cash! They did this by pioneering the live betting industry and took it to a whole new level. The estimated worth of bet365 now stands at around a billion pounds and they made a profit of over 400 million pounds in 2015 which is more than double the 2012 figure!
Showing live odds in the middle of a sporting event (TV advertisement) has become the norm for betting companies and is a great way to persuade people to but on a bet! Winchurch-Beale (President of the world media group and international sales director at the Washington post) said that “Through specialist technology and setting up an XML feed they were able to launch ‘In-Play betting’, enabling customers to bet on things happening during the game. The campaign was initially trialed with major football leagues in key European target areas. This strategy has resulted in bet365 becoming the world’s biggest online sports betting company, with a 32% profit rise to £478m in the year to March 2015.” Which emphasizes just how much time and effort Bet 365 have put into becoming one of the largest online gambling companies!
The award they won is the technology and Telecoms award for their big steps in the in-play betting scene. This is mainly due to their innovation in the advertising department and the fact that they are constantly changing their live odds and creating adverts to match them.