Skip to main content

Aussie bookie goes bust... or just gets bored?

Rumours abound this morning about the demise of RacingOdds (.com.au), the bookmaking arm of leviathan, or should it be big-mouth, Australian punter Sean Bartholomew. The website has disappeared (although other Aus firms have recently been subject to DDoS attacks and are still having issues), but there have been grave doubts about the longevity of this business for a while, with the proprietor believed to have been looking for a buyer for some time. If it is just hacker problems, then it's poor publicity for the company not to immediately send out emails to all clients reassuring them the firm is still operating, as Sportingbet and Sportsbet did last month.

Punter funds will be safe - that's the benefit of the tight licensing laws in Australia. Each bookmaker puts up a hefty security bond with their licensing authority, to be distributed to punters in the event of financial insolvency.

It is quite possible that Bartholomew has simply given up on an unviable business and closed the doors rather than bleed to death. He is also a massive punter; if more time was being spent punting (as per the old days) rather than taking bets because of a small client base, then what's the point of paying for a licence? Note - there is nothing wrong at all with bookies being punters, so long as they aren't playing with client funds. The new breed of Australian pro-active bookmakers means taking the best prices elsewhere, doing your own form, using information gained from clients - winning punter A is very good on this sport, so let him have his bet, cut the price and back that selection elsewhere for the hose, and taking risks. Wouldn't you rather that than the stale UK method of cutting everyone back to a fiver after you land a few winners??

Their prices were almost all cloned from other sources, after all the hoopla and propaganda about 'we will not close any punter down' they became the fastest trigger in Australia to shut people down, and they didn't have the resources of the big corporates to spend the big $$ required to reach the recreational punters based in the rest of Australia. Just because he got his mug on the spring racing carnival coverage a few times blowing his own trumpet didn't mean punters were going to flock to him. The bookmaking industry is full of egos, and in times when there are endless choices for where to bet, they turn most people off....

Bookmaking is not an easy game - and this business plan was doomed to fail. Winning punters do not make winning bookmakers, and even then big Sean was rumoured to have gone bust as a punter at least once as well. Sometimes it just takes a wise man to walk away - exactly what has happened will no doubt surface soon enough...

UPDATE - Racingodds.com.au has been sold to Matthew Tripp's Sportsbet (51% owned by PaddyPower).

Comments

Popular posts from this blog

Preview de la Prix de l'Arc de Triomphe 2020

The European flat racing season comes to its natural conclusion in this messed up hell of a year. The queen of the turf, Enable, goes for an historic third win but it has been wet and cold all week in Paris, making it a tough old slog in deep ground. There won't be much of a crowd there to 'bring the house down' if she wins, in front of no more than 1000 paying spectators, but the racing world will be tuning in across the globe. ===============================================
Prix de L'Arc de Triomphe ParisLongchamp, 1605 local, 1505 BST, 0005 Monday Sydney time.  2400m, Group 1 Weight-for-Age, (no geldings)  Approx €3m.  Expected Going - Heavy.  1.Persian King - 4yo, Kingman/Pretty Please - Andre Fabre - Pierre Charles Boudot Star French colt stepping up to a mile and a half for the first time. Won the French 2000 Guineas (Poulains) on heavy ground but ran fourth (only time in his career finishing worse than second) in the Jacques Le Marois, almost nine lengths behind P…

lay the field - my favourite racing strategy

Dabbling with laying the field in-running at various prices today, not just one price, but several in the same race. Got several matched in the previous race at Brighton, then this race came along at Nottingham. Such a long straight at Nottingham makes punters often over-react and think the finish line is closer than it actually is. As you can see by the number of bets matched, there was plenty of volatility in this in-play market. It's rare you'll get a complete wipe-out with one horse getting matched at all levels, but it can happen, so don't give yourself too much risk...

The Melbourne Cup preview 2019

We're back again for the greatest race on turf, the world's richest staying race and the only race in the world which creates a public holiday for millions of locals.




Once again a fine international field has been assembled and it's worth a deep look at the race. So get a cuppa and find a comfortable seat to plough your way through my preview!

--------------------------------

The Lexus Melbourne Cup
Group 1, Handicap, 3200m
AUD 7,750,000
Flemington 1500 local, 0400 GMT
Broadcasters - Network 10 (AUS), Racing.com (worldwide), SkySportsRacing (UK)


1. Cross Counter
Trainer - Charlie Appleby (one previous Cup win)
Jockey - William Buick
Breeding - Teofilo - Waitress
Drawn 5, Weight 57.5kg

Last year's impressive winner who doesn't get the 3yo weight advantage this time. Won first up at Meydan in March but has run fourth, third, fourth in the big set weights staying races in England and Ireland, never quite making it as the next big staying star. While running close behind Stradivar…