Bitcoin Forum

Whilst gamblers are struggling to make ends meet, or trying to decide which NBA team would win, or how many points they will score in total, or whether Barcelona or Real Madrid will win the next game etc. etc. you should take a look at this:

https://www.theguardian.com/business/2018/nov/21/bet365-denise-coates-paid-herself-an-obscene-265m-in-2017

Denise Coates, the owner and founder of Bet365.com - took $1,000,000 every day into her pocket - in the year of 2017.

That is $365,000,000 in the entire year, or £265,000,000 in British Pound (average of $1.37 per GBP in 2017 which is more or less the average GBP/USD for that year).

And she took around $900,000 every day in the year of 2016.

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Now let's ask you this - who is the real beneficiary from gambling? Is it the gambler or the house?
Does she need to risk $3,000 on an NBA game deciding whether the score would be over or under the line? Does she need to spin a roulette or count the blackjack cards?

No, she didn't have to do all this!

The house always wins...! it does!

But you probably didn't imagine how big those house winnings are!

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Next time you think of placing a bet or gamble - if you truly want to get rich - open a casino or a website.....

BUT

If you want to be fair, just and not unscrupulous - choose a different field... we work in the online advertising industry, we try to avoid the promotion of gambling sites because we know it's going to cause harm to people ....

The gambling industry is bad, full of corruption and greed, and you can see a lady getting $1 million dollars every day and yet this is not enough for her.

Be happy with what you have, appreciate what you have, enjoy your life, enjoy what you have, because true happiness comes from within and not from this.

And as for this lady - she may be wealthy, but she is wealthy because she has emptied the pockets of many sad souls, this is not a good way to be rich .... not at all ..... if she was like Mark Zuckerberg - good for her, but getting rich like this - is quite despicable.

Shocking
I think Bet365 has also some casino offers
Never mind.The same Bet365 and others bookies are suspending punters accounts when they are wining
Some punters very well  know what that game is about thanks years of practice  heavy work and technology what is helpful
I know horse racing punter all his bookies account was suspended because he was able to make some money

Next shocking is children addiction to gambling
Over 55000 children in UK have gambling problems
Sometimes they are using his parents credit cards
Colorful slots and aggressive marketing
That number jumped from 16000 last year

The rich gets richer and the poor gets poorer (and addicted).

So in other newly news, in gambling the winner is the casino.

Incredible.

You got any more newly news we don't know?

It is always the house, I know that bet365 beside sports offer also casino games and they have a few percentage of house edge, 1-3% in most cases. So gambling is for the owners 100% of the time but someone might win a jackpot once in a long while and only that someone has won something from gambling, all others have lost money which has gone to this Denise Coates pocket.

I think you missed the point.
Most people know (or at least heard the phrase) that the house always wins.

However very few realize how big are those winnings, perhaps if they would take news like this into account it would dissuade them from gambling or from thinking they "can beat the house".

And regardless of this specific point - taking so much money like this is not something to applaud, this comes over the expense and misery of people who if they could wouldn't be in their current spot in the first place, but the "house" took the best of them.

Everytime company wins, becouse there are many users so if some of them even win most of them lose and even winer lose at the end if we talk about online gambling as winner bet again and again to make more but at least he lose everything.

Sure but it means you should just make gambling illegal. As soon as it's legal it means some people will extort money from others. That's the very basic nature of gambling.

We all know that the gambling industry can be... morally questionable, but at the end of the day, it is an industry and in fact one of the oldest ones around.

You can ignore and ban it on ethical grounds, it will still thrive and underground, gamblers will be unprotected. Or you can choose to run the industry properly, fairly and giving players transparency with how things are while also implementing measures to prevent addiction.

I choose this, because I love gambling. And I like how Bitcoin casinos are fair and transparent. They chose to make money, it's for sure not worse than countries going to war to provide employment.

And getting rich like Mark Zuckerberg isn't morally questionable? He's getting rich by selling people's personal information to advertisers, totally disregarding their privacy, even sharing their freaking phone numbers gathered through their 2FA.

Facebook is also made to be very addictive. Social media can also ruin people's lives. Okay, maybe not to the same extent as gambling websites, but it's still morally questionable.

If gambling would be made illegal, there would still be casinos around. Only, they would not follow any regulations and people wouldn't be as protected as they are today (from bad practices).

That woman has every right to pay herself that kind of salary, she started a legitimate business and is making a profit from that.

Do you think every store owner is immoral, because they sell alcohol to possible addicts?

I saw this on the news & it doesn’t really bother me at all. She’s built a hugely successful business, if she can afford to pay herself that much then why not. I don’t get why people are moaning about it & getting jealous etc.
I saw people online saying she should put money into helping addicted gamblers, why the hell would she do that, it’d make her company earn less.

Good for her I say!

Ok no problem business is business but run honest honest business
If people win on sport betting than pay people instead of suspending accounts
Bookies are able to spy successful tipsters and lower odds on  his bets

Notice 265 mln is only BET365 bookie do you think others are performing worse
Wiliam Hill has been found guilty of ML.16 mln penalty not so much for them customers will pay
Ladybrokers the same case of ML 20 mln pound penalty
Any criminal case

I will even not say nothing about manipulating odds and different betting rules with famous
Rule 4

Nobody is saint in this world, and everybody got some skeletons, nobody's perfect.
So a store owner might sell alcohol to someone who should stay away from it - is it good? No, but how many incidents like this could occur? Definitely not a scale of $1,000,000 NET PROFIT per day, right?

I have no problem with her taking a salary, I have a problem with the HOW she makes it. For instance: tactics of delaying withdrawals, asking customers for more and more documents, freezing user accounts for "investigation" that takes over 1 year, and worse of all - getting main profit from addicts who cannot stop throwing away their money.

The way she's getting her salary is via unscrupulous means. Are these legitimate? They are legit but unscrupulous.

And forget about Facebook, would you say an average Joe, a teacher, is getting a salary for doing something less legitimate than this?
What about a construction builder?
An engineer?

Are these jobs just as good as hers? You don't see any difference?

I don't get the point of this post. Are you trying to tell us that casinos and sportsbooks make money ?
Because, if you are trying to, that's already a very widely known thing, it is not something people hide? I mean casinos do have a house edge that they literally tell you about or sportsbooks do have odds that they share you with and all of those have a bigger chance for casino to make money.

This is not some "maybe you will be rich" type of Hollywood movie, people know that they will lose their money if they play for long enough time. They will tell you that you are going to lose in the long run.

Nevertheless, people believe that once in a life time deal, maybe just once, only once, they will hit big and become rich. No one believes they can constantly beat the casino but maaaybe they can get them only once for a big win like a huge jackpot and got away with it.

People are not losing in long run on sport betting
Sport betting is about reading stats
Based on that punters are wining in long term
Problem is when punters are wining bookies are suspending accounts
One guy last time won 100/1 on horse racing
his stake was 100  pounds
Bookie paid him after 10 days when case was famous and press was writing about that
So bookie had only two choices or pay or risk to lose customers

Other thing is that UK gov doesn't care of children protection
If shop owner will sell alcohol to kids than he will face big problems
Bookies are holly caws and they know about it

Firstly, people are not aware HOW MUCH 1 single person makes in this industry, it's not obvious to see someone making so much ... and it's definitely not taken for granted by the average Joe who might be addicted to gambling.

Also, as Pab said - this lady represents a company that made punters go through hell to claim their winnings ... and it wasn't because of a due diligence check, it was because the punter plays in the house, and the house sets the rule - Bet365 froze many accounts and they are not a "saint" company.

All in all - it's important to discuss this, it's definitely not some "boring" information that is meaningless and worthless.

Why does the scale of her daily wage matter?

I'm sorry, but there are enough people who are perfectly capable of gambling without getting addicted. She's just providing a service that has wide demand.
Anyone who is selling addictive products or services is just as "guilty" as her.

People are responsible for their own well-being. If you get addicted to gambling, it's your own responsibility to fix that.

Got any proof of these tactics that you mention? Are they delaying withdraws, asking for documents, freezing accounts etc because they want to make it as difficult as possible for customers to get money out - or are they required to do so by law?

Again, I don't see anything wrong with running a successful gambling website and getting huge profits from that.

She exploits that players love to drive cars without insurance. If you habitually drive cars without insurance, then one day you possibly will have to pay the price.

If car insurances do not exist, there is nothing you can do. If car insurances exist and you do not use it (even cost free), than you are part of the problem!

Yes, she is an unethical person exploiting the wrongdoing of players! But the players are partially guilty as well, acting as single fighters.

I'm not quite sure what the purpose of the Op's post is? The Bet365 business is a revenue generating machine and yes many people have lost everything to gambling however you could begin to question the morals of so many organisations. The makers of the soft drinks with all that shit that is in them, fast food outlets who serve up crap, sweet manufacturers, the tobacco industry, alcoholism, the list goes on.

Revenue of 2.3 billion.  Thats no small company and its family run it appears which means instead of the normal scenario of banks taking over business or bond holders getting rich, its an worker owner.  I dont mind free enterprise, its open to anyone and I thought with a women collecting this people might be happy for once its a slightly different fat cat.


Really do I mind, because thats 1 million on a pay cheque just before the taxes and all sorts get deducted.   Thats a pretty high rate of tax in the UK so alot of this money is going to the much needed debt problem the UK gov has

Same as someone driving down the street in a Porsche even if they just own it to show off, that dude paid 20% taxes on the sticker price just to own that car.  He probably sells in a few years anyway and because its a well made car, someone else is getting a nice car at a nice price.  
It dont really do any of us any good in society rich or poor if you put down the people who get sucess in life.  That isnt making me richer, you only have to look at extreme economies where socialism prevents personal profit and you see it has only made all of them equally poor.  Except for that political elite who always sit on top, more equal then all other :p

The only thing probably putting this post would be that gambling owners at the end of the day make huge money and this money is nothing but people like us who gamble and lose it. So probably want to let everyone aware that do not waste your money on gambling as house will always have the edge and make us poor and owner the rich.

The house will get the benefit from gambling, and we don't know how much the money the owner can get. And if the gambling site/place was getting popular, then it means more money the owner will get. Although he spends much money to maintain his site/place, he still gets more money, and it's a big business that attracts people who have a lot of money.

Casinos were made to print money and i think it is common if the house can get huge profit from their players especially the house with trustable reputation because i'm sure people are willing to spend their money through them but the statistics can make other gambling sites jealous because some of unpopular betting sites has been sutting down because lack of costumers

Honestly, the children addiction is basically one huge problem that we are beginning to see now, and it even gets worst with blockchain gambling since of course, KYC is not a thing, and age cannot easily be tagged, since you can decide to remain anonymous with blockchain gambling.

The truth of it all here is that people need to realize that even if they want to gamble, it only take huge luck to win, and since the most people carting away with the sad souls money as mentioned by the OP are the owners of the platforms, the necessity to be rethinking approach to gambling or staying away seems to me as something people should be more concerned about now.

while it's true that the house always wins , but doesn't mean that there is no professional gamblers who can drain the house

have you ever asked yourself why do bet365 limit and block thousands of accounts ?? cause there are actually smart gamblers that can make bet365 bleed to death if they were allowed to keep betting with the regular limits

so if they could actually beat these gamblers they would be more than happy to keep taking their bets

so basically these bookies are making this fortune from people who are either addicted or just betting for the fun without even knowing what they are doing

That's a lot of taxes paid to the state. I know it's an incredible amount of money, but other casino owners are also rich. Think of how much the owners of PrimeDice had to make if they held some of the profits in Bitcoin since 2013. People were playing and losing hundreds of coins, but the coins were worth $20 each at the time. Not $20000. Gambling always used to be great for the house but in crypto it had its golden years.

I don't know what will she do with that much money. LOL. Every morning, she will have to spend hours to think what will she do with $1m transferred to here account everyday :)). I know that the house is always win but this number is incredible.

You do know right the profits quoted there are without the taxes and money they put in for the promotions? They're like a multinational organization with proper infrastructure and a business model. You aren't considering the fact that in the same year every day 100's of players won insane bets too.

You can never blame someone for his success. He made his money because there are people out there who would gamble away their money. If you close down Bet365, then these gamblers will move under-ground, and this will be even more dangerous.

This thread should help all the gambling addictions to make them understand that all the money they lose helps the owners to make so much money per day and in return what you get is nothing only health issues, mental stress or problem in relations ships if you continuously keep gambling.

Probably this would open the eyes of gamblers to the fact that the only set of people who are really making money here are the owners of the gambling platforms and the casinos. As a gambler, you are only just basically paying your dues and being emotionally self-manipulated to paying more to keep gambling while you keep enriching the pocket of the owners.

For those who keep thinking they will be making shit loads of money from gambling, they really need to think again before approaching gambling or betting with that mentality.

You can read in the article that she was one of the wealthiest people in the country even before she bought the domain and started the casino. There's this old saying that money makes money. It's really hard for a normal poor guy to make a million dollars at all, and especially 1 million per day, but it's nothing special if you already have billions at your disposal.

Haha this is incredible.

I can not even understand how there are too many people in this world that can easily have a million dollars in less than 24 hours.

Anyway, this isn't new at all, we ALL know how casinos works.

The house always wins - That's true! Because like any other business, gambling is also a business and it needs profit to keep the operations going, to keep paying the salaries to their employees or to sustain the overheads. Why don't you say the same thing when government imposes more than 100% tax on many regular products? Lets assume a scenario of a simple toothpaste which is a regular product for us,

Tax 1: Tax on the raw material
Tax 2: Production tax
Tax 3: Transport tax
Tax 4: Sales tax

In some cases, these cumulative tax goes beyond 100% of the production value. Why are you not saying the same thing for government then? The house always wins doesn't necessarily means that all gamblers loose their money! There are winners as well and people pay out of their pocket for entertainment! Gambling is not a money making method, it's a form of pure entertainment!

I see this post is more about shaming the owner than the popular topic of discussion 'the house always wins'. I believe the line 'the house always win is cliche' as I have seen many bitcoins users emptying the wallets of casino sites.

I am really baffled Mark who sold our data to make money is a Saint, and she who doesn't forces people to play is the devil are you for real? I feel gambling is just like another business, if one gets addicted and looses it's their fault not the sites fault.

Exactly that. If you browse in google for "bet365 limited my account" you will come across a hundred web pages and forums with the same complain and strangeness of something like " bet365 limited my account but I didn't do anything wrong"

If you have the patience to read those forums you will come to the conclusion that is better to play in crypto casinos where limiting of the account is almost not existent.

I don't know if that is the case. Are there really so many sports bettors who play so well that they can constitute a menace to a casino? Why don't they simply play on other sites which don't block them then? I think that with more than 35 million customers globally all those profits look possible without any form of cheating. And regarding the hundred web pages with complaints, that's what you get with so many users normally.

Ha ha you don't understand .i don't understand  all that ico scams generated mln of dollars so easy in few days
At least Bet365 is providing service with so many customers
The only one thing is that they are suspending accounts if somebody is wining

yeah that's the case , there are thousands of professional sports bettors and they aren't welcome in bet365 or any other famous fiat site
so they can move to other sites , but they will get limited as well  :D
the only well known site that doesn't limit winners is pinnacle , so it's kinda the only bookie that professionals use ( and of course exchanges since the site is making money anyway )

that's why at first I thought that bitcoin gambling can be great , but it seems that even bitcoin sportsbetting sites limit the winners at some point

These really makes some sense. Gambling house is always the winner or else nobody would dare invest in a casino with only lossing end.  I think it's only natural in a business where the owner is always looking for profit and it's just a success for dennise Coates to earn such big amount.

I have not been into sports betting until recently, so I don't have much knowledge on the subject. If what you are saying is true, then it's very interesting, because it means that there are people who can actually make money on gambling, but they are just not allowed to. I've seen several topics started here in which OPs were asking to place bets on their behalf in various bookies because, as they were stating, they were banned because of how good they were. I've been always disregarding those statements as some kind of bullsh*t, and now it appears they could make sense?

It's pretty much BS.
Yes, with Bet365 it might be a little bit "easy" to get limited, for instance if you try to arbitrage with Bet365 or if you were lucky to hit 2-3 winning bets you might get limited right away.

So it's quite "easy" to get limited.
And if someone is very good at it he can use Pinnacle or other sites that don't limit, so there is always an option for someone who believes that he/she can make money like this - but it's all BS and false dreams really.

How does the company justify these payments? That's ridiculous !

Is op suggesting that the owner of the gambling business is fraudulent or something?
Guess there is  something special about her gambling centers that makes  gamblers attracted to them?
I guess this is one of the reasons people should embrace the blockchain gambling

I also believe in this one, just think of this idea. Why do casinos offers much like a comfortable and even grand place and freebies like water, juice, alcohol, etc. to its players even though they are winning a lot? It is because even though players won the jockpot many times, the house earned it also as many times as the winner in a row. Where do they get those high jockpots though? Maybe if someone wins, they get doubled.

Not every casino has similar returns. Bet365 is big. like REALLY BIGG!. I know about many casinos and online sportsbooks that are barely managing. Heck even, directbet couldn't keep up with the high bitcoin fees and was probably why they closed 2 years back. They have an edge, but players these days have many options. In order to make money they need volume which not all casinos have these days.

I don't think that there is someone who believes that the house doesn't win from gambling. Gambling sites face a continues growth with strongly increasing profits all these years of operations. Bet365 is the best booker in the industry and I believe that their profits will continue to increase steadily. It would be interesting to see how many users have joined the platform these years.

I am the OP and I am not suggesting the owner is defrauding other people, however the type of business she's running is an unscrupulous business, however you want to look it - now you can be an affiliate, run their promos, promote Bet365 and like the old saying "if you can't beat them - join them" - but all I'm saying is that this way of making money is in some way dishonest (not fraud), it's unscrupulous, it's not something I would be proud of if I was in her shoes.

I agree, this thread is about scale, the scale of how much Bet365 are making.
And thats just one person earning that much money, can you imagine their
advertising bill, the salaries of the other top executives and staff? Massive.

The average gambler wont be put off by this news though, and most are
probably unaware.

This is true, in theory, the casino profit is 1% of the bets, better known as house edge, if she gets 1 million daily that means the casino is getting more than $100M in bets each day, that's crazy I know, but bet365 is an enormous platform, so, it's possible for them to handle that volume.

This is an incredible amount from single gambling company. 
I guess if companies like this have transparency and honesty coded in their gambling softwares they wouldn't be making so much.
There is probably something special about the gambling sites that makes gamblers flock there on daily basis. What could that be? Does it benefit the gamblers

Daily profiting out of it is really big, no user will believe that they were earning such a big amount. As one of the user mentioned on casions they'll have at a minimum house edge of 1% on every game. Through the house $1000000 means they need to handle 100 million bets daily. This has been achieved regularly, and soon we can expect few of our cryptocurrency accepted gambling websites to make a change similar to Bet365.

It's a gambling site, you don't need 'something special', gamblers will flock and go and make a bet, and if they lose bet more and they are addicted. I don't know what you mean by transparency and honestly because the house always win.

Regardless, she has built it from ground up and now she is very successful. That's why we have a saying in our local dialect, that if you wanted to be rich, build a casino. ;D

Bet365 is really providing a good service. They have partnershiped and integrated with different platform enabling users to bet wherever and whenever.
Though the platform has grown enough to not care to provide the best odds, I still use it as my first choice when it comes to sports betting.

They established their names into this field that's why most of the sports gamblers chooses them, the more gamblers the more money to go inside their pockets, they understand the system so well and always making it sure to have a much wider spread of benefits against anything, gambling site who can offer wide varieties of games will always have more followers to bet inside, no need to change site as they can cater most of those sports gambling that one gamblers needs,.