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Australian online bookmaker (founded 1993)
Sportsbet is an online gambling company owned
by Flutter Entertainment, primarily targeting the Australian market. Sportsbet 💸 is
licensed as a corporate bookmaker in the Northern Territory under the Racing and
Betting Act 1993 (NT).
Sportsbet is headquartered 💸 in Melbourne and seeks to operate
within the boundaries set by multiple Australian regulatory authorities at a federal
and state 💸 level. This regulation involves varying restrictions on products and
promotional activities that can be offered by licensed corporate bookmakers in
💸 Australia.
The company was acquired by Paddy Power in December 2010, and since 2
February 2024, it has been owned by 💸 Flutter Entertainment.[2]
History [ edit ]
The
business name Sportsbet Australia was first registered in 1994, with domain name
registered in 1999.
In 💸 May 2009, 51% was acquired by Paddy Power, who continued brand
name and company operation as a separate entity, while 💸 offering additional services.[2]
The takeover allowed to acquire rival betting company International All Sports Limited,
for 27.2 million euros.[3]
In March 💸 2011, Paddy Power took full ownership of
Sportsbet.[4][5]
Paddy Power and British rival Betfair agreed terms for a merger on 8
💸 September 2024. The business is owned 52% by the former Paddy Power shareholders and
48% by the former Betfair shareholders.[6] 💸 The merger was completed on 2 February
2024.[7] On 5 April 2024, it was announced that 650 jobs in United 💸 Kingdom and Ireland
would be lost at the company.[8]
On 6 March 2024, Paddy Power Bet Fair announced that
it would 💸 rebrand as Flutter Entertainment, pending shareholder approval at the
company's annual general meeting in May. Flutter was originally the name 💸 of a betting
exchange acquired by Betfair in December 2001. The company stated that the rebrand,
which took place on 💸 28 May 2024, would not affect the company's individual customer
facing gaming brands.[9]
In May 2024, the global merger between Flutter 💸 Entertainment
and The Stars Group was finalized following regulatory and shareholder approvals.
Sportsbet and BetEasy formed the Australian component of 💸 the merger.[10] Incumbent CEO
of Sportsbet Barni Evans was appointed to lead the combined Sportsbet and BetEasy
businesses, with a 💸 decision made to move forward with the sole Sportsbet brand,
retiring the BetEasy brand following a period of migration and 💸 integration.
In November
2024, Sportsbet lost more thanR$50 million due the oddsmakers mistake.
Markets [ edit
]
Sport [ edit ]
Sportsbet has markets 💸 for 25 different sports: American football,
Australian rules football, baseball, basketball, boxing, cricket, cycling, darts,
e-sports, Gaelic football, golf, handball, 💸 ice hockey, motorsports, rugby league, rugby
union, snooker, soccer, "sports novelties", table tennis, tennis, mixed martial arts
(MMA), volleyball and 💸 waterpolo.[11]
Politics [ edit ]
Sportsbet has markets for
elections in many countries.[12] These include federal, state and territory elections
in Australia, 💸 federal elections in Canada, general elections in New Zealand and the
United Kingdom, presidential elections in the United States. This 💸 includes markets such
as "Democratic/Republican presidential nominee", "next Labor/Liberal leader", "next
Conservative/Labour leader" and "year of the next Australian federal 💸 election". It has
also included special markers such as "next NSW Liberal leader" for the 2024 NSW
Liberal Party leadership 💸 election, "next Western Australian Premier" (following the
resignation of Mark McGowan) and "next state/territory to elect a Liberal government"
following 💸 the 2024 New South Wales state election, which saw the Labor Party hold power
federally and in every mainland state 💸 or territory, leaving Tasmania as the only state
with a Liberal government.
However, political odds on Sportsbet have faced controversy
before.
Accuracy 💸 [ edit ]
Australian elections [ edit ]
Australian federal elections
Year Predicted Winner 2013[13] LNP 2024[14] LNP 2024 ALP LNP 2024 💸 ALP Next ALP TBD
NSW
state elections Year Predicted Winner 2024 LNP 2024 LNP 2024 ALP
Victorian state
elections Year Predicted Winner 💸 2014 ALP 2024 ALP 2024 ALP
Queensland state elections
Year Predicted Winner 2024 LNP ALP 2024 ALP 2024 LNP TBD
WA state 💸 elections Year
Predicted Winner 2024 ALP 2025 ALP TBA
SA state elections Year Predicted Winner 2024
ALP LIB 2024 ALP
Tasmanian state 💸 elections Year Predicted Winner 2024 LIB 2024 LIB
NT
general elections Year Predicted Winner 2024 ALP TBD
International elections [ edit
]
Canadian 💸 federal elections Year Predicted Winner Next CPC TBA
NZ general elections
Year Predicted Winner 2024 NAT TBA
Spanish general elections Year Predicted 💸 Winner 2024
PP TBA
UK general elections Year Predicted Winner Next LAB TBA
US presidential
elections Year Predicted Winner 2024 DEM GOP 💸 2024 DEM 2024 DEM TBA
Entertainment [ edit
]
Sportsbet has markets for several television programs when they occur, including
reality television 💸 programs and award shows amongst others.[15]
Controversies [ edit
]
For the 2024 Australian federal election, Sportsbet tipped the Labor Party, led 💸 by
Bill Shorten, to defeat the incumbent Coalition government, led by Scott Morrison.
Sportsbet paid out all bets for Labor 💸 winning the election two days before the
election, which was won by the Coalition and Morrison was re-elected Prime Minister.
💸 Sportsbet lost overR$AUD5.2 million due to the early payout for an incorrect
result.[16] Another mistake made was the option of 💸 punters betting on the Family First
Party to win the 2024 election, which had a 1000/1 chance to win despite 💸 the party
being dissolved in 2024.[17]
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