CLAIMS TO FAME
- Former marketing executive at UK betting giant Paddy Power
- Has positioned Sportsbet as clear No.1 in Australia’s competitive sports betting landscape
The Australian sports betting arm of UK giant Flutter Entertainment, Sportsbet has clearly established its place as the clear No.1 in Australia’s competitive online sportsbook scene, but 2024 has brought its challenges. Increases in the Point of Consumption taxes charged in multiple Australian states have hit the company’s bottom line and forced it to reel in – to some extent at least – the aggressive marketing campaigns it had used to steal top spot from rival Tabcorp in the first place.
Sportsbet also provided in May an Enforceable Undertaking to AUSTRAC to uplift its compliance with Australia’s anti-money laundering and counter-terrorism financing (AML/CTF) laws – part of a crackdown by Australia’s money laundering watchdog on the nation’s sports betting providers. The Enforceable Undertaking includes a requirement to provide reports to AUSTRAC from an auditor who will continually monitor the progress of Sportsbet’s enhanced compliance.
Current regulatory headwinds aside, there is no sign of the company relinquishing its market leading position anytime soon.
Credit for that must go to Barni Evans, who as CEO oversaw the 2020 merger of Flutter, long-time owner of the Sportsbet brand, and The Stars Group, owner of BetEasy, which led to the two sportsbooks combining into a single powerhouse.
Sportsbet currently holds a little less than 50% market share, meaning its rivals have plenty of work to do if they are to make up any significant ground.
For the full list of 2024 Asian Gaming Power 50 winners, click here.
