Has Australia’s largest bookmaker peaked?
Sportsbet has enjoyed a meteoric rise with its customer promotions and aggressive marketing strategy. Taking it to the next level may be difficult.
It’s unusual for a £23.7 billion ($44.9 billion) company to revel in the success of a local offshoot. But Irish gaming giant Flutter’s local bookmaker, Sportsbet, has long been considered its crown jewel. It’s also one of Australia’s great business success stories.
In 2022, Sportsbet had a 48 per cent share of Australia’s online wagering market and contributed 16 per cent to Flutter’s total revenue. Its market share is almost double its closest Australian competitor, ASX-listed Tabcorp, and far ahead of smaller listed rivals PointsBet and BlueBet.
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