Leading British online gambling operator bet365 has continued to pursue its ambitious global expansion plans over the past few weeks. The Stoke-based company was recently cleared to offer sports betting in Arizona through one of the three remaining available tethered licences.
This is the seventh state in which bet365 has received a licence having already gone live in Ohio, Virginia, New Jersey, Iowa and Colorado. With Kentucky set to be next to jump on the bandwagon, bet365’s quest to make further inroads in international markets remains firmly on track.
How bet365 Hit the Big-Time
Founded by Denise Coates with just 12 employees in 2000, the company launched its first sports website the following year. Further verticals were added into the mix, before Coates decided to broaden bet365’s horizons in 2011.
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Australia was identified as a lucrative market opportunity, leading Coates to sign off on opening an office in Sydney. Their website was launched in Australia the following year, quickly followed by another office opening its doors in Darwin.
The latter facility now operates 24 hours a day, housing the firm’s customer support and telephone betting department for Australian customers. This commitment to service has not only been well received by punters, but has also garnered plenty of positivity from the rest of the gambling industry.
A quick look at the bet365 review on BettingTop10, a comparison platform for betting sites, highlights that point to perfection. Their website is rated as one of the best in the business – a factor which has subsequently been recognised by many other jurisdictions.
Bulgaria, Cyprus, Estonia, Sweden, Germany and the Netherlands are among the countries where bet365 now operates. However, while the firm is undoubtedly a global operation, its headquarters remain firmly rooted in Staffordshire.
Coates has been eager to give back to the local community, creating thousands of jobs in the city rather than shifting them overseas. The Coates family, who also own Championship club Stoke City, have also forged strong links with Keele University.
Each year, one hundred students can benefit from the Denise Coates Scholarship, which is worth £1,500 in the first year of study. It is open to all students who live in a local postcode in households with less than £30,000 annual income.
This support is invaluable to students who may have been denied the opportunity to attend university due to limited finances. With Coates also known to keep an eye on the progress of students on the scheme, it can also be the route to a lucrative graduate career with her firm further down the line.
This conveyor belt of talent has helped bet365 become innovators in the industry – a point reflected by the company’s appeal in emerging markets. While many other operators use ‘white label’ software, bet365 have built their own betting platform which is supported by a sizeable development team.
By operating in this manner, the firm can leverage overseas opportunities more effectively as the cost of running the platform can be spread globally. This allows them to undercut most other bookmakers’ odds, thus making them an attractive proposition for punters.
Coates Eager to Leverage Future Opportunities
Having Coates in charge undoubtedly gives bet365 an advantage, with many other operators blighted by large management teams who struggle to make profitable decisions.
Coates’ business acumen shone through in a recent interview, where she explained how bet365 were beating the industry’s big boys at their own game.
“The business has been successful but the cash betting industry is mature, while the internet and telephone side grew so big so quickly that 99 percent of our time was spent trying to keep up with the pace of development,” Coates said.
“That side of the company went from nothing to a £650m turnover business and a leader in its field. We had 50 betting shops, but the top two have 2,000 apiece which means we were never going to be a leader, but we are a hugely cash generative and leading player on the internet.
“While the internet is rapidly growing at the moment, we believe there will be a lot of industry consolidation and we want to have a war chest when opportunities become available.”
