Bet365 Sex – There are rumors that Bet365 has reached a settlement with Megan McCann. Image: M4OS Images/ Alamy Stock Photo/ Alamy Stock Photo
A long-running court case in which Megan McCann, a student from Northern Ireland, sued Bet365 for £1 million in unpaid winnings, was adjourned shortly before returning to court in Belfast, sparking speculation that Bet365 had agreed to settle the disputed bets. three years after its installation in June 2016.
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A Bet365 account in the name of McCann, who was a 19-year-old student at the time, placed a stake of approximately £25,000 on 12 horses running at Bath, Kempton Park and Naas on June 22, 2016. Bet365 accepted the bet – a total of £960 13 each Lucky 15 – which were the most successful, bringing a total payout of £984,833.
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However, Bet365 refused to pay out the winnings, claiming that the original bet was placed by a third party in breach of the company’s terms and conditions. He also refused to return a £25,000 bet.
McCann launched legal proceedings against Bet365 two years ago and the latest in a series of court hearings involving full hearings in the case has been set for Friday morning.
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Bet365 Boss Denise Coates Gets 45% Pay Rise To Earn £469million
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However, the list was withdrawn earlier this week, and a judge at the High Court in Belfast confirmed on Wednesday that McCann’s legal team had submitted a “formal notice of termination” in the matter.
While experts who have been following the case will be delighted to learn that some or all of the £1m winnings have been paid out, not hearing the full details could cause such confusion that important questions about the strength of the major bookmaker’s rules will not be resolved. not be tested in court.
McCann’s statement alleged that Bet365 and other major online bookmakers use “unethical practices” in dealing with their customers and that they severely discriminate against clever fraudsters who can pay for their bets. Many successful players are unable to accept their bets and their accounts are closed or, more commonly, placed with bets of £1 or less. As a result, some people have been known to use “clean” accounts opened by family members, friends and acquaintances to hold shares on their behalf. Denise Coates, the billionaire founder and head of betting company Bet365, paid herself £265 million last year. in a record pay deal for the CEO of a British company.
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The huge pay package, around £726,000 a day, surpasses the previous UK record set by Coates when he collected £217m the previous year.
According to reports filed at Companies House on Wednesday, Coates received a starting salary of £220,004,000 in the year to March 2018. He also received a dividend payment of £45m on his more than 50% stake in Stoke.
His salary is more than £9,500 of the average UK salary, 1,700 times what the Prime Minister earns and more than double the salary of the entire Stoke City football team, which is owned by Bet365 and which was relegated from the Premier League last year. time. season. Coates’ salary is also 27 times higher than that of Tim Cook, CEO of Apple, the world’s most valuable company.
“It’s hard to justify it anyway, but mainly because the money comes from people struggling with compulsive gambling,” Cable said. “It is an industry organization that requires strict regulations. We have introduced high-quality slot machines. “Now we need to tackle online gambling and stop the publicity surrounding it.”
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Luke Hildyard, director of the Center for High Pay, said: “Why would someone who is already a billionaire take such an obscene amount of money from his company? It’s hard to find a reason other than pure greed.
“Obviously, you can’t justify paying this amount for someone who deals in life-enhancing products or services. This is doubly disgusting when it comes to the CEO of a gambling company at a time when problem gambling is at the forefront. rise.”
Coates, who started out as a cashier at his father’s betting shop before taking over and turning it into one of the world’s largest gambling groups, has remained tight-lipped about his salary. He told shareholders: “The increase in individual pay [was] essential to developing the company’s core strategy which has enabled the group to continue to grow.”
In its accounts, Bet365 said: “I am pleased to report that the group continued to record strong growth over the period, with total revenue and operating profit increasing year-on-year by 25% to £2.9 billion and 31% to £660 million. . appropriately.”
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Even before the big payday, Coates and his family were the 21st richest in the UK, worth £5.8 billion – more than Sir Richard Branson with £4.5 billion or EasyJet’s Sir Stelios Haji-Ioannou with £3 billion. pounds.
Coates, 51, who stays out of the public eye and rarely gives media interviews, owns more than 50% of the company. She and the rest of her family – including brother John (co-chief executive), husband Richard Smith (director of Stoke City) and father (chairman of Stoke City) – control 93% of Bet365.
Total remuneration for Bet365’s directors and “key management staff” was £449 million, up from £322 million the previous year. Pay is high across Bet 365, with 4,030 employees sharing £648m equally, or £161,000 each.
After graduating with a top-class degree in economics – the application of statistical methods to economic data – from the University of Sheffield, Coates expanded the family’s Regional Races chain of stores to almost 50 betting shops. As the new millennium approached, he made a decision about the future of online gambling and purchased the Bet365.com domain on eBay for $25,000 (£19,000), catapulting him and his family into the British rich league.
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In 2012 he was awarded a CBE for services to the community and business, and thanks to his decision to set up Bet365 in Stoke, where it is the largest private sector employer, he became known as the “patron of pottery”. “We mortgaged the bookmaking and put everything on the Internet,” he said at the time. “We knew the industry required huge upfront costs, but we went all in.”
Bet365 customers gambled around £52.3 billion last year – £5.5 billion more than the previous year. The company’s television commercials are directed by actor Ray Winstone and aired during major sporting events.
The disclosure of Coates’ huge payout comes after an official report showed the number of children with gambling problems had quadrupled in two years. The Gambling Commission’s review found that 55,000 problem gamblers aged 11-16 and a further 70,000 young people were at risk.
The report published on Wednesday shows that 450,000 children – one in seven of the total population – regularly play slot machines, online, in betting shops or bingo. All gambling is illegal for persons under 18 years of age.
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Mike Dixon, chief executive of the addiction charity, said: ‘It’s shocking that the CEO of one gambling company earns 26 times the industry’s contribution to [addiction] treatment. We know that gambling problems affect over 2 million people. We need a fair tax on the profits of the gambling industry so that more people can get help and support.
Bet365 has made a donation of £75 million to the Denise Coates Foundation, which mainly funds medical and educational charities. The charity has not made any donations to gambling or addiction charities. A competitive market with emerging brands is good for consumers in any market and so the emergence of bet365 Sportsbook as a legitimate player in the industry will be a welcome development for sports. bettors.
Although many states have not yet introduced online sports betting, the market has matured quickly and several key players have entered the market. In most states, it’s DraftKings, FanDuel and everyone else. Generally, most sports bettors tend to switch between these two brands, while others may hop between less popular options like BetMGM, Caesars, and PointsBet – often for higher odds and other opportunistic offers.
We’re only a few years into the legalization of online sports betting, but if we’re being honest, the landscape is already stagnant. It’s one that could probably use an infusion of new players into the game. As online sports betting continues to grow in popularity across America, bet365 – along with ESPN Bet and Fanatics Sportsbook – is one of three programs looking to make a difference.