The owner of Bet365.com pocketed $1,000,000 every day in 2017 - page 2.

Juggy777

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Quote from: Get-Paid.com on November 22, 2018, 03:28:11 AM

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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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.

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.

avikz

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Quote from: Get-Paid.com on November 22, 2018, 03:28:11 AM

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!

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!

dead_m92

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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.

Quote from: mOgliE on November 22, 2018, 04:51:21 AM

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

Incredible.

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

darkangel11

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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.

coinplus

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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.

onrise

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Quote from: Vishnu.Reang on November 23, 2018, 11:38:37 PM

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.

Vishnu.Reang

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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.

Patatas

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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.

drlukacs

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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.

pixie85

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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.

SyGambler

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guess who's back

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

justdimin

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Quote from: Pab on November 22, 2018, 04:27:22 AM

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

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.

bering

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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

maydna

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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.

onrise

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Quote from: AnotherBTCNoob on November 22, 2018, 07:07:54 PM

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.

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.

STT

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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.

Quote

took $1,000,000 every day into her pocket - in the year of 2017

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

AnotherBTCNoob

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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.

game-protect

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Quote from: Get-Paid.com on November 22, 2018, 01:38:30 PM

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.

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.

eternalgloom

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Quote from: Get-Paid.com on November 22, 2018, 07:59:05 AM

Quote from: eternalgloom on November 22, 2018, 06:51:53 AM

Quote from: Get-Paid.com on November 22, 2018, 03:28:11 AM

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.

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?

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?

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.

Get-Paid.com

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Quote from: rickadone on November 22, 2018, 09:25:07 AM

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.

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.

Topic: The owner of Bet365.com pocketed $1,000,000 every day in 2017 - page 2. (Read 720 times)