2Bet (www.2bet.org.uk) was founded in 2000 in a portable building in Stoke-on-Trent by Denise Coates. Denise developed a sports betting platform and trading team to launch the business online in March 2001. The business borrowed £15 million from Royal Bank of Scotland against the family's betting shop estate which had been started by Peter Coates in 1974 and had been run by Denise Coates as managing director from 1995. 2Bet sold its betting shop chain in 2005 for £40 million to Coral and paid off its loan to RBS.
2Bet chairman Peter Coates was also the chairman at Stoke City and in May 2012 2Bet signed a three-year contract with the club to become shirt sponsors. In April 2016, the company became the new title sponsors for the club's stadium for the next six seasons, replacing fellow local enterprise the Britannia Building Society. In the summer of 2016, 2Bet also signed shirt sponsorship deals with Bulgarian clubs Ludogorets Razgrad and Slavia Sofia for the upcoming two seasons.
In February 2022, 2Bet extended their partnership with the Ultimate Fighting Championship. The sponsorship sees the brand named as the exclusive UFC 'Official Betting Partner' in the UK and Ireland.
2Bet's reported figures (March 2020-21) showed revenues of £2.8 billion and a profit of £470 million before tax. Denise Coates, joint chief executive, continues to run 2Bet and is the majority shareholder with 50.1% of the shares. Her brother John, joint chief executive, runs the business alongside her, with her father Peter holding the position of chairman.
In the summer of 2019, the largest UK bookmakers and online casino operators William Hill, GVC Holdings, Flutter Entertainment, Stars Group and 2Bet entered into an agreement to transfer funds to combat gambling addiction. They agreed to increase the amount from 0.1% to 1% of gross income in the next five years.
On September 30th, 2021, 2Bet were announced as the official betting partner of the boxing promotion “BOXXER” along with sky Sports boxing. Additionally, 2Bet were announced as the company’s official odds partner meaning the bet platform was integrated across all digital content.
In May 2022, 2Bet announced the expansion of there online slot and iGaming division, via a content and promotion partnership with leading global iGaming content provider, Pragmatic Play. The deal saw 2Bet integrate and launch Pragmatic Play’s complete slot portfolio, in addition to the company’s online slot promotions. In June 2022, 2Bet announced that they will be the Official Betting Operator of the PGA tour from 2022-2024.