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Coral Bookmakers was founded in 1926 by Joe Coral. A Polish immigrant Joe left school at 14 and a talent for mathematics meant he found work as a pay clerk, before landing a side job as a runner for a number of bookmakers. In1926 he borrowed money from a good friend who ran a local cafe to launch his own book making business and operated betting pitches at local greyhound tracks.

Joe was a colourful character, operating before gambling was fully legalised he was never arrested for his book making activities, but he was nearly turned down for British citizenship in 1939 due to a string of driving offences and a conviction for perjury.

The 1960 Betting & Gaming Act legalised off course betting shops, and Joe Coral was quick to take advantage of this. Coral opened one of the first UK High Street betting shops in 1961 and by the following year owned 23 shops across the country. A shrewd businessman Joe Coral realised very early that there was a market outside of sports betting. In 1963 he formed a limited company and expanded into bingo halls, hotels and casinos, helping drive the business forward. By 1977 Coral was one of the 4 biggest bookmakers in the UK.

Bass brewing company acquired Coral in 1981. By that time it ran over 650 betting shops as well as 2 greyhound stadiums; Romford and Brighton & Hove; and a number of holiday camps, social clubs, casinos and hotels. Joe Coral remained as president of the company and the Coral name was kept on the betting shops and stadia.

Joe Coral passed away in 1996, at the age of 92. After his death Coral changed hands several times. An attempted purchase by Ladbrokes in 1997 was vetoed by the Monopolies & Mergers commission, which lead to Coral being passed onto Morgan Grenfell Private Equity in 1999. There was a further management buy-out in 2002 by Charterhouse Development Capital. In 2015 Ladbrokes and Coral reopened negotiations for a merger, it was again investigated by the Monopolies & Mergers Commission and the sale of 360 betting shops across the UK to Betfred and Stan James paved the way for the deal to go ahead in November 2016.

Having become one of the most recognised names in High Street betting shops, Coral was named Bookmaker of the year at the 2006 Bookmaker awards. They were an early adopter in the move to online gambling and in 2011 signed a deal with Playtech to provide online betting and an integrated wallet, making it easier for them to cross sell other brands within the group including Gala Bingo. Their online offerings include in-play betting, online poker, casino, slot machines and bingo.

Coral have been long time sponsors of a number of horse racing events. Including the Welsh Grand National since 1973 and the Coral Cup at the Cheltenham Festival since 1974.

In 2013 Coral published revenues of £1.2 billion and employed over 19,000 people. There are 1800 betting shops bearing the Coral name in the UK, and more under the brand Eurobet in Italy.