Bet365 founder Denise Coates enjoys bumper pay rise to £265 million in 2018

Denise Coates founded Bet365 in 2010. Credit: PA

Denise Coates, the billionaire boss of Bet365, will have something to smile about after being paid £265 million this year as the betting firm reported another year of profits.

New accounts filed this week show that Ms Coates was paid £220 million in 2018, as well as half of a £90 million dividend, making her one of the highest paid executives in the world.

It trumps the £220 million she earned last year when she was recognised as the UK’s highest paid director.

Bet365 has enjoyed a 28% rise in pre-tax profit. Credit: PA

Ms Coates founded Bet365 in a car park in 2000 and has since grown it to gambling staple in the UK.

Her brother and father are also directors at the company with the family boasting an estimated fortune of £5.8 billion, ranking them 21st on the Sunday Times rich list.

Bet365 posted a 28% rise in pre-tax profit to £660.6 million in the year to March on turnover of £2.9 billion.

The firm also owns Stoke City and the accounts show that the football club, relegated from the Premier League in May, suffered a £21 million loss last year.