January 10th, 2024, Kineree Shah
Bet365, a leading player in the online gambling industry, has made headlines with its latest financial results. Despite reporting a significant loss, the company's CEO, Denise Coates, received a salary of around £221 million for the financial year ending March 2023, on the back of a 19% increase in turnover. This news has garnered extensive media coverage, particularly focusing on the contrast between the company's losses and the CEO's remuneration.
Amidst this backdrop, Bet365's market performance, as reflected in YouGov BrandIndex scores, presents an intriguing narrative. Since January 1, 2021, there has been a notable upward trajectory in the brand's Consideration scores in the UK. These scores, which measure the likelihood of consumers considering Bet365 for their next purchase, have increased from 3.3% on January 8, 2021, to 5.2% on November 2, 2023, before slightly declining to 4.5% as of January 8, 2024. This trend suggests a growing inclination among UK adults to consider Bet365, belying the company's financial challenges.
Further reinforcing Bet365's market presence is the rise in Ad Awareness scores. This metric, which gauges if consumers have seen an advertisement of the brand, has also seen a positive shift - from 8.7% on January 2021 to 13.1% in July 2023, and settling at 10.9% as of January 8, 2024. Lastly, Current Customer scores, reflecting recent purchases or ownership among UK adults, have grown from 2.5% to 5% in June 2023, before reaching 3.8% on January 8,2024.
Despite the reported financial loss, it's important to recognize Bet365's impressive turnover growth, underscoring its resilience and success in a competitive market.
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Methodology: YouGov BrandIndex collects data on thousands of brands every day. Scores are based on an average daily sample size of 1000 adults between January 8, 2021, to January 8, 2024. Figures are based on a 12-week moving average. Learn more about BrandIndex.