Betfred and bet365 Owners Among UK’s Top Taxpayers Once Again

The Times has released its annual tax list for 2025, highlighting the UK's highest taxpayers, with major figures from the gambling industry securing two of the top three positions. 

Chris Hohn, the founder of Children’s Investment Fund Management, topped the list with a staggering tax contribution of £339.5 million ($423.15 million) to the UK Government. Following closely behind, Betfred owners Fred and Peter Done and their family ranked second, paying £273.4 million in taxes, while bet365’s owners, Denise, John, and Peter Coates, retained their third-place position with a contribution of £265 million.

The Done family’s ascent to the second spot marks a notable improvement from last year, when they were ranked fourth after paying £204.6 million in taxes. This year’s increased figure underscores Betfred’s continued growth and financial impact. In contrast, the Coates family, despite maintaining their position, saw a significant decrease from the previous year’s tax payment of £375.9 million, indicating a shift in financial performance.

Betfred’s latest annual report for 2023, released in July, revealed a 25.6% increase in turnover, demonstrating the company’s ability to expand revenue streams. However, the report also highlighted a sharp 98.7% decline in operating profit, reflecting underlying challenges in profitability despite revenue growth. Meanwhile, bet365’s recently published FY2024 financial results showed a strong improvement in profits, although Denise Coates’ personal remuneration experienced a substantial decline.

The gambling industry’s prominent representation on the tax list underscores its significant contribution to the UK economy. Despite the sector’s financial influence, the recent UK Budget did not introduce any increases in gambling duties, providing some relief for industry operators navigating an evolving regulatory landscape.

The sustained high tax contributions from both Betfred and bet365 reflect the scale and profitability of their operations, even amid market fluctuations and competitive pressures. Their consistent presence among the country’s top taxpayers highlights their crucial role in supporting public finances and underlines the broader economic influence of the gambling sector in the UK.