bet365 boss pays herself £265 MILLION

[Housey]

Yep, I think Raymond hit the nail on the head.

Sadly it is a culture we breed in a section of the society within the UK. Whole swathes of people hate to see success in others, especially monetary success. This is often predicated by the fact they believe said persons were just lucky, that with the same luck they would have been taking home 250 million quid. They can't accept that people they believe to be just like them have millions when they have less. That is of course a ludicrous mindset but sneering bitterness is something many in our country excel at, thought hardly any of them will make money from it.

Life isn't a same for everyone game, not least if you're useless or worse, if you think you're brilliant but wonder why each week no one sees it. If it's easy go do it, but some advice to save you some energy. Most of the time it is really really hard to make this sort of money and it usually takes being brilliant, being first or being both. Occasionally, once in a while someone is lucky but most the time not.

 

[shadow_boxer]

Was listening to discussion on this on Radio 2 this afternoon and I personally felt happy for her. Of course it’s hard not to feel a bit jealous or envious of what others have esp in this day where everybody likes to flaunt it on social media or forums.

I don’t know the details or ins and outs of her initial business set up but sounds like she had a great idea and ran with it. I can’t imagine the risks she took in remortgaging and restructuring her fathers business and the time and effort this all would have taken. The very very few people who are lucky enough to end up in this position have done so by hard work and taking risks. I don’t use the word lucky lightly either as just imagine how many have risked it all an not made it. Personally, I couldn’t take that risk but that’s because I’m a steady eddy kinda guy.

....plus local Stokey so and she does give away to charities.

As for the ethics of the business. Personally it doesn’t bother me. It’s not illegal so as long as she works with in the rules and regulations then that’s not her responsibility. Why any different to tabacco companies, alcohol, arms dealers etc.

 

[arknor]

misleading title or what, not really paying her self just taking the profits out of the business.

Don't see what's wrong with it, yea it's an obscene amount of money but it belongs to her so...

 

[Andrew_McP]

Capitalism depends upon satisfying needs. Her company has done a superb job of satisfying a lot of people's need to throw their money down the drain as fast as humanly possible. She's a glorious example of economic evolution, which is no different to any other kind of evolution... the weak get milked so the savvy can thrive.

Where do I place a bet on her getting even richer?

Anyway, we need to encourage these rich folk as much as possible. They'll be the only ones able to fund the Ark to the next world for humanity to ruin. NASA won't be able to do it; they'll be too busy crashing probes into The Moon to etch an outline of Trump's face for the rest of us to worship as we descend into plastic-wrapped anarchy.

 

[Deleted member 77746]

Capitalism depends upon satisfying needs. Her company has done a superb job of satisfying a lot of people's need to throw their money down the drain as fast as humanly possible. She's a glorious example of economic evolution, which is no different to any other kind of evolution... the weak get milked so the savvy can thrive.

Where do I place a bet on her getting even richer?

Anyway, we need to encourage these rich folk as much as possible. They'll be the only ones able to fund the Ark to the next world for humanity to ruin. NASA won't be able to do it; they'll be too busy crashing probes into The Moon to etch an outline of Trump's face for the rest of us to worship as we descend into plastic-wrapped anarchy.

You can place a bet at Bet 365

 

[Angilion]

Because I run my own company and I have to pay my fair share when I take a chunk out. There's no mention of sending the money abroad or anything so if it's a straight dividend take she'll have to pay the appropriate tax. SOme seem to think accountants can perform izzy wizzy lets get dizzy magic spells but they can't. Any "evasion" would result in loss of her reputation and damage tothe company if caught.
Being so high profile I'm sure HRMC will take a closer look.

The tax laws are complicated (as I'm sure you know from running your own company) and that complexity makes loopholes inevitable. A skilled accountant can reduce the amount of tax paid if there's enough money involved. It won't result in loss of her reputation and damage to the company if it's called "avoidance" rather than "evasion" and that distinction is a matter of how skilled the accountant is at their job and what degree of risk they're (both of them) willing to take.

I am surprised if the other poster is correct that the amount equals half a years profit. I take less than that out of mine (% wise) so it can keep ticking over if bad times were to come. And no, it's not £265million (I wish)

The declared profit of Bet365 for the 2016/17 financial year was £504M. Maybe she thinks the remaining half is enough to cover any possible bad times. Maybe she thinks the chance of bad times coming is too low to care about. Maybe she'd rather have more money in her own name (or other companies she owns) in case there are bad times coming for Bet365. Maybe all of the above.

The amount of profit matters as well as the percentage, e.g. taking £1M out of a company making £2M profit is different to taking £250M out of a company making £500M profit.

 

[dowie]

The tax laws are complicated (as I'm sure you know from running your own company) and that complexity makes loopholes inevitable. A skilled accountant can reduce the amount of tax paid if there's enough money involved. It won't result in loss of her reputation and damage to the company if it's called "avoidance" rather than "evasion" and that distinction is a matter of how skilled the accountant is at their job and what degree of risk they're (both of them) willing to take.

But you're not answering how? Remember again she's paying herself 220 million as salary, this isn't some elaborate scheme involving trusts or overseas holding companies or a change of residency. There isn't much avoidance to be done there... I doubt she's managed to buy 200 million in work clothes. How do you suppose she's avoiding tax here - as far as I can tell she'll be paying income tax on that salary.

You seem to have taken the view that because rich people often avoid tax she is probably doing so too, that is reasonable if we had no further information other than she was worth X and owned Y company but given this story is about how she is apparently taking this (mostly) as salary this ought to change your assumption there.

 

[SexyGreyFox]

it is possible to gamble responsibly (ie. within one's financial limits).

Correct, I gamble £3 a week and no more

 

[diamount]

She's expanding a business in a very competitive market so fair play but then again it's probably through (legal) but very exploitative practices considering it's in the gambling industry.

Correct, I gamble £3 a week and no more

Yeah, you're not responsible for their massive profits.

 

[StriderX]

Man, i'll be really humored when society collapses and people in this thread can be all like "Clap, clap, clap, she earned it legally LOLOL", it's not about legality it's about morality and social damage. If this thread was going to be about what she earned, then it should never have been started, because who ******* cares? It's about why it was earned, end of.

You could argue that the taxes she probably pays makes up for it, well it doesn't, considering that the taxes are going on politically motivated poverty-porn, it's probably doing more damage than if gambling were simply banned and the money used on something else (you know like a local economy that might have survived if it were not for the millions flowing into betting shops and straight up to this woman and her family).

But then again GD doesn't care about all those poor, stupid men walking in and out of these places every day because it's all their fault "hur hur, i can be responsible hur hur".

No wonder this country is cesspool, slowing turning into a living disaster, i LAUGH at you.

 

[Raymond Lin]

Man, i'll be really humored when society collapses and people in this thread can be all like "Clap, clap, clap, she earned it legally LOLOL", it's not about legality it's about morality and social damage. If this thread was going to be about what she earned, then it should never have been started, because who ******* cares? It's about why it was earned, end of.

You could argue that the taxes she probably pays makes up for it, well it doesn't, considering that the taxes are going on politically motivated poverty-porn, it's probably doing more damage than if gambling were simply banned and the money used on something else (you know like a local economy that might have survived if it were not for the millions flowing into betting shops and straight up to this woman and her family).

But then again GD doesn't care about all those poor, stupid men walking in and out of these places every day because it's all their fault "hur hur, i can be responsible hur hur".

No wonder this country is cesspool, slowing turning into a living disaster, i LAUGH at you.

What is the thread title again???

https://www.bbc.co.uk/news/business-46289499
https://www.theguardian.com/busines...e-coates-paid-herself-an-obscene-265m-in-2017


Just wanted GD thoughts on this, is it a case of she earned it so why not? or should there be something in place to stop someone earning so much, i mean i can not think of a reason she can justify her salary, even if you took a 0 of the end and it was 26.5 million that is more money than most will earn in their lifetime.

And in the OP, where is the morality and social damage that you are talking about?

Let's just face it, this thread started about one thing, you are just trying to twist things around, moving the goal posts about something else, that's the subject for another thread i am afraid.

 

[Trappi$t]

Give up your entire life, put everything on the line, commit yourself 100% over years, take massive risks, employ thousands of people, damage your health through lack of sleep/stress etc, sure, make all the money you want.

Alternatively you can sit around in your trakkies after taking a liberal arts degree/Gender Studies course, and complain about how the world is so unfair.

Does she even have a Yacht yet?

Jealous people are hilarious, they really are, and normally its through a bit of self loathing or their own shortcomings which drives this type of vindictiveness towards others who have made STAKKZ OF CASSHH.

Bottom line is if people were not so thick and brain-dead, or actually lived by some form of principles, the business could go under in about 7 days, but people will continue to bet with them, drive their profits, and carry on regardless.

 

[Trappi$t]

Man, i'll be really humored when society collapses and people in this thread can be all like "Clap, clap, clap, she earned it legally LOLOL", it's not about legality it's about morality and social damage. If this thread was going to be about what she earned, then it should never have been started, because who ******* cares? It's about why it was earned, end of.

You could argue that the taxes she probably pays makes up for it, well it doesn't, considering that the taxes are going on politically motivated poverty-porn, it's probably doing more damage than if gambling were simply banned and the money used on something else (you know like a local economy that might have survived if it were not for the millions flowing into betting shops and straight up to this woman and her family).

But then again GD doesn't care about all those poor, stupid men walking in and out of these places every day because it's all their fault "hur hur, i can be responsible hur hur".

No wonder this country is cesspool, slowing turning into a living disaster, i LAUGH at you.

This country is a cesspool because of an ever expanding load of immoral, lazy, self entitled, ignorant, rude, low IQ idiots, who have poor standards for themselves and the society around them.

Poverty in the UK is not about being devoid of money, generally its being devoid of intelligence, standards, ideas, and willpower to do anything better than lay about in trakkies moaning how everyone else has it so easy and playing a victim card.

The same pathetic attitude is not prevalent in a lot of other far more productive countries, UK is rapidly becoming a toilet, and its generally down to the debasement of the native inhabitants, mixed with an influx of 3rd world animals, combining to bring societal standards down to the very bottom of the ladder, likely just above masturbating chimps in a few years no doubt.

You only have to look at the repugnant and crass human behaviour around "Black Friday" all driven by a perverse lust for stuffed toy carrots, to see how far the general populace of the UK has fallen.

 

[helpimcrap]

You're trying to say that every kid / adult with a phone has access to a casino, whereas in the good ol' days you had to go somewhere.

In a way yes. You can gamble without getting out of bed, or proving anything if you have a credit card. At least back in the day you had to go there and at least 'look' 18.

Obviously the advent of technology has greatly improved other things so much, but it's allowed everything unfiltered. Society and the government are too slow to react.

I think she's earned it, so us entitled to it. It's capitalism at its finest.

I never used to bet, but I can go on my phone and spend £1000 without getting out of my chair.

I disagree with what I think you were trying to say.

I think that the difference isn't that people in the past were less protected from everything (quite the opposite in many ways) or that they had stronger minds about what is right and wrong (although if you go back further they were more controlled by the Christian churches, that's not really about what is right and wrong). I think the biggest difference is opportunity. You mention that in the middle, but I think it's a far larger factor than you refer to it as being. In the past, gambling required physically going to a place for it and gambling on a larger scale required money and social connections. Nowadays, it doesn't. The opportunity to gamble is almost omnipresent and large scale gambling is easy even with money you don't really even have. I think the next biggest factor is poverty while being constantly shown what you can't afford to buy. There's nothing new about poverty, but exposure to what can be bought and pressure to have it is far greater than in the past. The past wasn't necessarily better (and I would argue that some parts of the past were far worse for people who were poor, e.g. at least from the industrial revolution until at least the early 20th century) but problem gambling is much more of a problem now than in the past.

As for this person, of course it's greed. But that's the point of capitalism. She owns half the company. £265M is about half of the profit the company makes per year, so that matches up.

I actually expanded on my point in Diddums and then saw it was the same point you were making. Opportunity.

 

[randomshenans]

What odds you offering?

8/3 odds.

with 400/1 that you can't get close enough to do it.

 

[Participant]

The proletariat can never handle success. It reminds them of their own failures.

 

[robfosters]

Man, i'll be really humored when society collapses and people in this thread can be all like "Clap, clap, clap, she earned it legally LOLOL", it's not about legality it's about morality and social damage. If this thread was going to be about what she earned, then it should never have been started, because who ******* cares? It's about why it was earned, end of.

You could argue that the taxes she probably pays makes up for it, well it doesn't, considering that the taxes are going on politically motivated poverty-porn, it's probably doing more damage than if gambling were simply banned and the money used on something else (you know like a local economy that might have survived if it were not for the millions flowing into betting shops and straight up to this woman and her family).

But then again GD doesn't care about all those poor, stupid men walking in and out of these places every day because it's all their fault "hur hur, i can be responsible hur hur".

No wonder this country is cesspool, slowing turning into a living disaster, i LAUGH at you.

You sound very bitter towards this woman. What harms she ever done to you?

 

[StriderX]

You sound very bitter towards this woman. What harms she ever done to you?

Nothing directly, but clearly she's helped facilitate a system (AGAIN it's NOT her that i'm even talking about, it's the entire pointless venture that she just so happens to be a part of) that keeps the poor and stupid, poor, stupid and easy pickings for a better life. I can see it so easily because it's exactly the level of thought process that happens when you have islamist fundy's employing randomers with little prospect. All a fascist has to do is promise to satisfy the addiction or the underlying problem that started the addiction and hey ho you have yourself a willing victim for self-sacrifice.

But you can pass it off as pointless jabber, that's fine, i'll just wait for the inevitable, much like climate change, immutable simply because society is ****** at protecting itself in a logical manner.

/added some extra flare to make sure you actually get it.

 

[robfosters]

Nothing directly, but clearly she's helped facilitate a system (AGAIN it's NOT her that i'm even talking about, it's the entire pointless venture that she just so happens to be a part of) that keeps the poor and stupid, poor, stupid and easy pickings for a better life. I can see it so easily because it's exactly the level of thought process that happens when you have islamist fundy's employing randomers with little prospect. All a fascist has to do is promise to satisfy the addiction or the underlying problem that started the addiction and hey ho you have yourself a willing victim for self-sacrifice.

But you can pass it off as pointless jabber, that's fine, i'll just wait for the inevitable, much like climate change, immutable simply because society is ****** at protecting itself in a logical manner.

/added some extra flare to make sure you actually get it.

No, I don’t get it fella. It’s just incoherent rambling.

 

[dowie]

Just quoting some Raymond truth bombs as it seems some people still didn't get the memo:

Ocuk’s attitude towards rich people:-

1 - oh you used legal ways to avoid paying taxes?! You tax dodger!!! You need to pay your dues!

2 - oh you pay your taxes? You should give more to charity then.

3 - oh you pay your taxes and gives millions to charity? You need to pay your employees better bonuses even though I have no idea how much they get.

4 - oh you pay your taxes, gives millions to charity and pays your employee good bonuses. Well you look like you fell down and hit the ugly tree.

You think she should pack up and move it to the Bahamas eh? It's a internet company, it can be run anywhere...

Fact is she is going to have a hefty tax bill, she could well have moved overseas and she could well have dodged a load of tax as already highlighted... if she hadn't set up the business then others would be providing gambling services instead. If people want gambling to be banned, limited, or regulations changed in some way then that is the job of the UK government and not this businesswoman.