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Denise Coates of Bet365 Slips to Third in UK’s Top Taxpayer Rankings

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Gambling Industry Magnates Among UK’s Elite Tax Contributors

In the latest rankings by The Times, Denise Coates, the founder of Bet365, has experienced a slight dip, positioning her as the third top taxpayer in the UK. Meanwhile, Betfred’s Fred and Peter Done have ascended to the fourth spot, highlighting the significant financial contributions of key players in the UK gambling industry.

Bet365’s Leadership in Tax Contributions

The Coates family, including Bet365’s executives, Denise, John, and Peter Coates, collectively paid £375.9 million in taxes, a decrease from the previous year’s £460.2 million. Despite the drop, they maintain a prominent position in the list, reflecting their substantial economic impact in the UK.

Denise Coates: A Trailblazer in the Industry

Denise Coates, renowned as the UK’s richest self-made woman, launched Bet365 from a modest beginning in Stoke-on-Trent. Her staggering personal remuneration of £220.0 million in the last year underscores her influential role in the global gambling sector.

Betfred’s Rising Position

Fred and Peter Done, who transformed their father’s legacy from an illegal bookmaking venture into the legitimate and thriving Betfred, have climbed to fourth in the rankings. Their increased tax payment of £204.6 million, up from the previous year, signals their growing prominence in the industry.

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XTX Markets Founder Leads the List

Topping the Times’ Tax List for the second year is Alex Gerko, founder of XTX Markets. His contribution of £664.5 million highlights the diverse nature of top taxpayers in the UK, encompassing various industries beyond gambling.

Bet365’s Financial Performance

Despite Bet365’s strong presence on the taxpayer list, the company reported a £61.2 million loss in its 2022-23 financial results, contrasting with the previous year’s profit. However, the firm saw a notable increase in sports betting and gaming revenue, indicating resilience in its core business areas.

Betfred’s Financial Growth

Betfred’s latest financial figures for 2021-22 showcase a robust 38.8% rise in gross profit, reflecting the company’s strong performance and contributions to the UK economy. This growth is further emphasized by a significant increase in total wagered amounts and net profit.

Conclusion:

The presence of gambling industry leaders like Denise Coates of Bet365 and Fred and Peter Done of Betfred in the UK’s top taxpayer list underscores the sector’s substantial economic contributions. Despite fluctuations in personal rankings and business performances, these figures play pivotal roles in the UK economy, highlighting the gambling industry’s impact on national fiscal health. As these companies navigate the challenges and opportunities of the market, their continued influence and contributions remain key to the UK’s economic landscape.

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Jerome, a valuable addition to the Gamingo.News team, brings with him extensive journalistic experience in the iGaming sector. His interest in the industry was sparked during his college years when he participated in local poker tournaments, eventually leading to his exposure to the burgeoning world of online poker and casino rooms. Jerome now utilizes his accumulated knowledge to fuel his passion for journalism, providing the team with the latest online scoops.

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Dutch Regulator Intensifies Supervision in 2024 to Ensure Safe Gambling

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Dutch Regulator KSA’s 2024 Supervisory Agenda Targets Responsible Gambling

As a seasoned gambling professional, staying updated on regulatory agendas is crucial for navigating the ever-evolving landscape of the industry. The Dutch gambling regulator, Kansspelautoriteit (KSA), has unveiled its ambitious Supervisory Agenda for 2024, outlining strategic initiatives to reinforce responsible gambling practices and combat illicit operations. In this comprehensive guide, we delve into the key objectives set forth by the KSA, shedding light on the regulatory priorities shaping the Dutch gambling landscape in the coming year.

The KSA’s Supervisory Agenda for 2024 underscores its unwavering commitment to promoting responsible gambling and safeguarding consumer welfare. Central to its mission is the amplification of “Safe Play” measures, aimed at fostering a secure and transparent gambling environment for all stakeholders. With a renewed emphasis on regulatory oversight, the KSA aims to bolster its supervisory framework to address emerging challenges and uphold the integrity of the Dutch gambling market.

In its pursuit of regulatory excellence, the KSA will intensify its scrutiny of operators’ duty of care measures, emphasising the importance of proactive interventions to prevent problem gambling behaviours. By implementing a data-driven approach to risk-based monitoring, the regulator aims to identify and mitigate potential harm swiftly, ensuring that operators fulfil their obligations to prioritise player protection.

Furthermore, the KSA’s agenda for 2024 includes targeted measures to disrupt the supply chain for unlicensed online gambling. Recognising the proliferation of illicit operators, the regulator will employ investigative tactics to dismantle unauthorised gambling networks and hold perpetrators accountable. Through rigorous enforcement actions and collaboration with law enforcement agencies, the KSA seeks to root out illegal gambling activities and preserve the integrity of the licensed gambling sector.

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A key focal point of the KSA’s supervisory efforts will be the enforcement of advertising regulations, with a particular emphasis on safeguarding vulnerable demographics, including young people. In response to recent findings highlighting breaches in advertising standards, the regulator remains steadfast in its commitment to curbing irresponsible marketing practices and promoting socially responsible advertising within the gambling industry.

In a recent revelation, the KSA unveiled the results of its investigation into unlicensed gambling advertising, exposing widespread non-compliance among affiliate sites. Of the 33 gambling websites scrutinised, 14 were found to have flouted regulations, including targeting individuals who had self-excluded from gambling activities. Such violations underscore the urgency of the KSA’s enforcement efforts to curb illicit advertising practices and protect consumers from exploitative marketing tactics.

As the Dutch gambling landscape evolves, the KSA’s Supervisory Agenda for 2024 serves as a beacon of regulatory diligence and consumer protection. By prioritising responsible gambling initiatives and cracking down on illicit operators, the regulator reaffirms its commitment to fostering a safe, fair, and sustainable gambling environment for all. As industry professionals, it is imperative to align with the KSA’s vision and actively contribute to the advancement of responsible gambling practices in the Netherlands.

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