Bet365 potential sale shakes up the global online gambling
Bet365 potential sale has become the hottest topic in the igaming sector, with reports indicating the Coates family is exploring options to divest part or all of their iconic business. Industry insiders and market watchers are abuzz, not only because of what this means for Bet365, but also for the broader dynamics of online gambling worldwide.
Why Bet365’s future matters beyond its brand
Over recent decades, Bet365 has emerged as one of the most influential players in the online gambling world, repeatedly lauded for its cutting-edge technology and command of in-play sports betting. The prospect of a sale—or even partial sale—could rewrite the playbook for global online gambling, given the operator’s scale and significance. With a reported valuation near £9bn ($12bn), any transaction would rank among the largest mergers and acquisitions ever seen in the sector.
The talk of a sale is not merely about numbers; it reflects the crossroads at which both Bet365 and the wider industry find themselves. “Sooner or later, something was going to have to happen,” observed Paul Leyland, a partner at Regulus Partners, pointing to the unavoidable reality that even the most successful businesses must eventually evolve their ownership model as founders approach retirement and new challenges emerge.
Ownership, legacy, and the lure of patience
The Coates family’s approach to the timing of any significant transaction is marked by prudence. Private ownership offers the luxury of time—Denise Coates and her family do not face the same pressure to act as public companies often do. As Leyland remarked, “The great thing about owning your own business is you can be like, ‘No, I’m not doing it, I’ll stick with what I’ve got.'” For Denise Coates, the question is not only about cashing out, but also about ensuring a legacy that preserves Bet365’s standing amid rapidly shifting regulatory and competitive landscapes.
The changing face of online gambling competition
For years, Bet365 enjoyed a dominant edge thanks to its pioneering in-play betting product and global reach. But as Leyland notes, that competitive advantage has eroded. Rivals such as Kaizen Gaming, Flutter, and DraftKings have upped the ante technologically. Where once established brands like William Hill and Ladbrokes were the competition, the battle now involves nimble, innovation-driven companies who understand both tech and local markets intimately.
This intensifying competition means Bet365 cannot rest on its laurels. As a Regulus Partners note observed, “Bet365 has run out of in-play growth and has not yet found a similar growth engine for a world in which in-play betting is a relatively mature commodity.” The company is now losing market share in markets it once dominated, highlighting the urgency for strategic action, whether that means an outright sale, partial partnership, or public offering.
Strategic options: sale, partnership, or IPO?
Several paths are reportedly on the table for the Coates family. They could pursue a partial sale to a private equity firm, potentially retaining a meaningful stake and some control. Alternatively, a listing on the US stock market—an initial public offering (IPO)—is under discussion, according to reports from The Guardian. Such a move would be monumental, but not without its challenges. Transitioning from a private to public company would require unprecedented transparency from Bet365, long known for its reserve and discretion.
Moreover, the company has reportedly held informal discussions with US advisers and Wall Street banks in recent weeks, further fueling speculation. Should a public route be chosen, potential buyers or partners like DraftKings might be examined, though the stars would have to align for any merger of this magnitude.
Regulatory cleanup and geographic pivot
If the Bet365 potential sale is more than just rumor, recent strategic moves provide context. In March 2025, Bet365 exited the Chinese market—long considered a “dark grey” jurisdiction due to regulatory ambiguity. This single step was significant, given the operator’s historic reach into markets outside of clear regulatory oversight. As Ed Birkin, managing director of H2 Gambling Capital, puts it, the withdrawal from China was less about sudden regulatory pressure and more about “tidying up shop completely for something to happen.” The exit is widely interpreted as Bet365 positioning itself as a cleaner asset for sale or public listing.
This regulatory cleanup coincided with a renewed push into regulated markets, particularly in the US, where Bet365 now operates in 13 states, as well as expansion in Latin America through moves into Peru and Brazil. Such steps not only simplify the company’s regulatory risk profile but also appeal to a broader pool of potential investors. As Leyland explains, “If you’ve got China revenue, there’s a bunch of investors that won’t touch you, who otherwise would have done.” Maximizing buyer interest means minimizing potential dealbreakers.
Financial health and industry standing
Bet365’s underlying performance provides further insight into the timing and rationale for considering a sale. The company reported revenues of £3.72bn for the twelve months ending March 2024—a 9% year-on-year increase. After a rare swing to loss in the previous year, Bet365’s profit before tax rebounded to £626.6 million. However, these headline numbers masked deeper concerns. Analysts at Regulus Partners highlighted declining VIP and grey market earnings, and stalling innovation in core products as factors impacting growth.
In the world of online gambling, where yesterday’s innovation quickly becomes today’s standard, maintaining growth and margin is an unrelenting challenge. The question is whether Bet365 can unlock a new growth engine as in-play betting commodifies, or whether it must look to external partners or markets to reignite momentum. With a valuation pegged at £9bn, some industry experts even suggest this figure may be conservative compared to peers such as DraftKings, whose current market capitalization stands at $16.64 billion.
What the future could hold for Bet365 and the market
This moment represents a watershed. Whether the Coates family opts for a complete sale, partial divestment, or public listing, any deal will have ripple effects for competitors, customers, and regulators worldwide. The scarcity value of a brand as powerful as Bet365 cannot be overstated. As Leyland notes, “It’s the biggest single brand in the industry. So that’s got to have some value.” For the broader industry, this sale could trigger a new wave of consolidation and strategic repositioning, especially among companies seeking scale and regulatory clarity.
What would a sale mean for players and the industry?
For punters, there is unlikely to be any immediate disruption. Bet365 will continue to serve customers through its extensive global platforms, just as before. However, over the longer term, new ownership could bring changes in product strategy, technology investments, or even market focus—as operational priorities shift from owner-managed to either private equity-driven or public market-driven models. The industry could see differing philosophies on everything from responsible gambling to emerging technologies like AI-driven personalization.
For competitors, a sale or IPO could mean heightened competition. Larger market entrants may be emboldened to invest, innovate, or even attempt acquisitions of their own. For regulators, the transparency required by a public listing would mark a significant shift for Bet365—potentially serving as a model for other historically private giants considering a similar leap.
