There are numerous examples of generations of families collaborating on business ventures. However, while some of them succeed spectacularly, the same cannot be said for those who fail badly.
Online gaming has fewer family-owned firms than other industries, which may be attributable to the fact that the industry is so new. However, Bet365 is an example of a family-owned business that has achieved global acclaim.
The humble beginnings
The story of Bet365’s meteoric ascent to prominence is a well-known one in the gambling business. Sometime after the dot com boom exploded in popularity, Bet365.com was created and started offering bets online in March of that year.
There is a tiny city in England named Stoke-on-Trent where the Coates family hails from. Entrepreneur Peter Coates was the family patriarch and was active in numerous enterprises. The failing betting shops that Peter Coates bought under the guise of Provincial Racing were one of many ventures he opted to invest in.
The fact that Bet 365 hired tea ladies to deliver hot beverages around the office would seem out of place in an online bookmaking firm today or even a few years ago.
It’s nothing without its competition
Ladbrokes, Coral, and William Hill, the UK’s three largest retail bookmakers, all launched sports betting sites before Bet365 did in March 2001.
Willhill.com, William Hill’s first online sportsbook, went live in 1998. Interestingly, WilliamHill.com was originally used by a vineyard in California, so they had to change it to WillHill.com. However, Bet365 would eventually overtake these well-known brands to become a truly global digital sport betting powerhouse.
To avoid relying on third parties, 365 Bet also concentrated on doing as much in-house as possible. A Vancouver, Canada-based company originally handled the affiliate program.
Taking the next steps
Denise Coates sold the family’s betting venues to Coral for £40 million after realizing that online bookmaking was the future of the industry and her desire to become a top-tier bookmaker in 2005.
When the sale of the company was completed, the sale proceeds were being used to settle off loans from RBS, while a portion of the revenues was invested in technology as online betting began to take hold.
As a result, Bet365 has hired bilingual and polyglot employees to handle customers from around the world.
Online casinos, bingo, and poker had been added to the company’s offerings at this time. However, this was primarily a sports betting company. Although the sections for games are less apparent than on rival websites, you may still find them on the website.
When the regulations permitted it, Bet365 also enlisted the help of gravel-throated old English comedian Ray Winstone to star in their television commercials.
In-play odds were promoted by Winstone’s disembodied head and direct delivery. Leading customer offers, reasonable pricing, and an excellent user experience all contributed to the brand’s explosive growth.
They continue to expand and evolve
The management of Bet365 turned their attention to new technologies and new methods of delivery that had become accessible once they had a full array of services and had expanded their operation through acquisition and marketing.
Bet365 was at the vanguard of mobile betting since it was becoming increasingly popular, particularly in the UK and Europe. 365 Bet not only made their software mobile-friendly, but they also incorporated live streams and betting all together.
As a result, Denise Coates has remained a quiet individual, declining to participate in interviews. It’s actually possible to walk through Stoke-on-Trent without drawing too much attention.
Their land-based Provincial Gaming stores had been sold, and with the money they received, the family invested in their online gaming company, expanding their product lines and creating dozens of local language sites to better service a global clientele.
In addition, they are committed to improving the present version of their product. To this day, it’s difficult to find a gambling website that matches Bet365 in terms of breadth and depth.
