Denise Coates, founder of Bet365, has revolutionized the way people in England bet on sports. With an operating profit of £682m and net revenues of £2.8 billion last year, she has undoubtedly made a significant impact on the industry.
Coates identified the game-changer: in-play betting. Why wait until the start of an event when every minute of play is a potential gambling opportunity? Bet365 developed its own technology to cater to this specific direction, allowing them to be at the forefront of the in-play experience. Its screens are masterpieces of accessibility and simplicity, making it easy for users to place bets on more sports in more countries than any rival.
By doing so, Coates changed the way people gamble in England. She lured in a generation who now equate watching sport with betting on it. And all major players have had no option but to follow her lead.
Today, many young people have multiple betting accounts and consider match experiences incomplete without their accounts being active. This is Coates' addictive, potentially harmful bequest to the nation. Watching someone try to enjoy a match without betting is like that scene in the film Magic where Anthony Hopkins' crazed ventriloquist struggles to go five minutes without speaking.
A study conducted by Dr. Darragh McGee at the University of Bath found that young football supporters, aged 18-35, had as many as 25 accounts with gambling companies and their conversations about football were defined not by the action on the field, but by the betting markets.
Many parents will relate to this shift in conversation around sports. The difference is noticeable, particularly in football. A referee might once have been discussed for his potential to ruin the game; now he is a gambling opportunity. Statistical minutiae is introduced, and interest in obscure fixtures sparked.
While Coates' genius has changed the industry, some concerns arise about the impact on problem gamblers. The Gambling Commission estimates that 400,000 people are problem gamblers, with an astonishing two million others considered to be at risk. Of these, an estimated 55,000 are aged between 11 and 16.
Given Coates' remuneration package of £265m last year, Bet365's pledge of £868,000 to the Gamble Aware charity seems underpowered. However, Bet365 is based in this country, employs 4,000 workers, and has a foundation that has donated millions to projects from North Staffordshire to sub-Saharan Africa.
"Relatively, they're actually one of the good guys," says Marc Etches, chief executive of Gamble Aware. Undoubtedly, Denise Coates is a fine role model in her field, having few peers as sharp as she is.
By making betting on sport as normal as watching it, Denise Coates has changed this country for future generations. Not helpfully, although that doesn't detract from her genius. She's all that.