Headwinds still abide for Australia’s corporate sportsbooks, which continue to be impacted by a challenging economic environment and the impact of Point of Consumption tax increases imposed across multiple states.
Yet there are some positive signs for market leader Sportsbet, which has seen revenues on the rise, albeit only slightly, since late 2024. That’s good news for long-time CEO Barni Evans, given the concerted effort by rival Tabcorp to reel in Sportsbet’s aggressive marketing play of recent years.
Recall it was Tabcorp that once dominated the local sports betting scene before the 2020 merger of Flutter, long-time owner of the Sportsbet brand, and The Stars Group, owner of BetEasy, led to the creation of an industry powerhouse.
Speaking at the Regulating the Game conference in Sydney in March, Evans described the lobbying of state governments by Tabcorp to increase the Point of Consumption taxes charged to Australia’s corporate bookmakers as both “ludicrous” and “destructive” for the industry, resulting in a worse outcome for customers.
It’s unlikely that battle is done just yet, but at least Evans can take solace in Sportsbet’s greater than 40% share of the Australian sports betting market.
