Bet365 and Betfred founders withstand recession

A list of the 1000 wealthiest people or families in the United Kingdom, published by the British Sunday Times on an annual basis, again contains a healthy component of online gambling executives despite recessive times.

Valuations, based on estimates of the minimum worth of Britain’s richest, are undertaken at the beginning of each year.  The 2012 Sunday Times Rich List ranks those who have stated their source of wealth as “gambling” as follows:

–     Peter and Denise Coates – Bet365 – topped the gambling sector, ranking 92nd with a worth of GBP 800 million, up GBP 50 million over last year.

–     Fred and Peter Done – Betfred – along with PartyGaming co-founders Ruth Parasol and Russ DeLeon tied at 112 on the list both with a worth of GBP 700 million which reflects an increase of GBP 40 million for the Done’s and a loss of GBP 33 million for Parasol and DeLeon.

–     A third PartyGaming co-founder Vikrant Bhargava made the list in 329th place with GBP 230 million.

–     Victor Chandler, founder and owner of BetVictor ranked 462nd with an estimated worth of GBP 160 million.

–     Coming in 501st on the list, Barney and Frances Eastwood, the Irish bookmaker and boxing promoter are estimated to be worth GBP 150 million.

–     Betfair co-founders Ed Wray and Andrew Black, although not bullet proof in recessionary times, still ranked at 620th and 682nd with an estimated worth of GBP 123 million and GBP 110 million – down GBP 9 million and GBP 15 million respectively.

–     Betfair investor Richard Koch took the 860th spot with a worth of GBP 87 million, reflecting a loss of GBP 5 million compared to the previous years estimate.

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