This is the former Sheffield woman who is now the highest paid woman in Britain with a staggering £265 MILLION a year salary

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A former Sheffield University student has become Britain's highest-earning woman - after pocketing nearly £265 MILLION last year, up from £200 MILLION the previous year.

Mum of five Denise Coates is behind online gambling firm Bet365, one of Britain's biggest bookmakers  - and records show she earned a basic wage of £200 million last year with a £45M dividend.

Top salary for Bet365 boss

Top salary for Bet365 boss

READ MORE: This is what she earned the previous year

Intensely private Miss Coates, aged 50, runs the company with her brother John and owns just over a 50 per cent stake in the firm, reported the Sunday Times.

Her father Peter is chairman of Stoke City Football Club, which is owned by the Bet365 Group.

Bet365 employs around 3,000 people - including her own husband Richard Smith, who serves as group property director. The pair met at Sheffield University, where she earned a first class degree in econometrics in the 1980s.