Early Life
Denise Coates was born in Stoke-on-Trent, England, on September 26, 1967. Her father, Peter Coates, was a bookmaker and the chairman of Stoke City F.C.. She attended Sandbach High School and later earned a first-class degree in econometrics from the University of Sheffield. During her studies, she worked in the cashiers' department of Provincial Racing, the family's bookmaking firm, gaining early exposure to the industry.
Rise to Success
After graduating, Coates continued working for Provincial Racing as an accountant and later became managing director of the small chain of shops in 1995. Recognizing the potential of online betting, she purchased the domain name Bet365.com in January 2000 for approximately $25,000 and launched the online betting site in 2001. She secured a £15 million loan from the Royal Bank of Scotland, mortgaging the family's betting shop estate to finance the venture.
Key Business Strategies
Coates's strategy focused on developing a robust sports betting platform and a strong trading team. Bet365's early success was fueled by its innovative in-play betting feature, which allowed users to wager in real time. By 2005, Bet365 sold its betting shop chain to Coral for £40 million and focused solely on its online operations. Today, Bet365 is one of the largest online gambling companies globally, with revenues exceeding £3 billion. Bet365 has offices across the globe and is expanding into the U.S. market.
Philanthropy
Coates established the Denise Coates Foundation in August 2012. The Foundation supports various charitable causes, including medical research, disaster relief, and educational initiatives. The Denise Coates Foundation has donated to numerous charities including the Douglas Macmillan Hospice, Keele University, and the University Hospitals of North Midlands.