Representatives from the gambling industry have once again dominated The Sunday Times’ Tax List for 2024, with the owners of Betfred and bet365 claiming two of the top five positions. The rankings show that the owners of these gambling giants outpaced well-known celebrities such as J.K. Rowling and Ed Sheeran.
Fred and Peter Done, the owners of Betfred, claimed the fourth spot on the list, while the Coates family, who own bet365, secured third place. The Done brothers paid a staggering £204.6 million in taxes to the UK government, while the Coates family paid nearly double that amount, contributing £375.9 million. Combined, the two families contributed a total of £580.5 million in taxes.
Denise Coates, in particular, has been a consistent top taxpayer in the UK, previously holding the top spot in both 2019 and 2021. Despite a pay cut in 2021, she remained the highest taxpayer. Meanwhile, bet365 was the second biggest taxpayer in the UK last year, coming in behind Moscow-born billionaire Alex Gerko.
While the Coates family no longer holds the top spot, bet365 continues to experience growth in profits. However, this success has been offset by significant operating losses attributed to increased spending. On the other hand, Betfred has not yet released its financials for 2023, but its presence on the list suggests potential growth, supported by the launch of new operations in different areas.
Despite the significant contributions from the gambling families, the top spots on The Sunday Times’ list were claimed by Bernie Ecclestone, the former chief executive officer of the Formula One Group, and Alex Gerko, the owner of XTX Markets. Ecclestone, who recently faced legal troubles, paid £652.6 million in taxes, while Gerko topped the list by paying an impressive £664.5 million in UK taxes.