Skip to main content

Bet 365 heads Down Under

The King of In-Play betting, Bet365, has announced it will apply for an Australian betting licence, in the Northern Territory, where most of the Aussie firms operate. While it is a highly credible licence - the restrictions placed on firms (security bonds, anti-money laundering regulations, government consultation required on rule changes etc) are significantly tighter than the regulatory regime they are used to, not to mention the bans on in-play betting online, casino and poker products.

Bet365 applies for Australian licence

Bet365 is “in the process” of applying for an Australian licence, its founder and joint chief executive has told eGaming Review, and could see operations begin as soon as the end of this year if successful.

Denise Coates, joint chief executive of bet365 said: “I can confirm that we are in the process of applying for a licence in the Northern Territory of Australia.

“Once we have submitted the application and the regulatory authorities have had the chance to consider it, we will hopefully be in a position to comment further,” she added.

If the Australian regulator approves Bet365 it is thought the company could begin trading as early as November. It would also be its first sports betting licence outside the UK.



A big step for them - I'd have thought they would go for the acquisition route rather than an independent licence, so they have some local expertise on board. Perhaps they looked at that option and decided they all wanted ridiculous prices for their firms or, in the case of one firm with a bunch of clones under the same operation but allegedly independent when it comes to disputes, were as dodgy as a snake oil salesman....

And will their nickname now be revised to Bet $3.65?

Comments

Popular posts from this blog

It's all gone Pete Tong at Betfair!

The Christmas Hurdle from Leopardstown, a good Grade 2 race during the holiday period. But now it will go into history as the race which brought Betfair down. Over £21m at odds of 29 available on Voler La Vedette in-running - that's a potential liability of over £500m. You might think that's a bit suspicious, something's fishy, especially with the horse starting at a Betfair SP of 2.96. Well, this wasn't a horse being stopped by a jockey either - the bloody horse won! Look at what was matched at 29. Split that in half and multiply by 28 for the actual liability for the layer(s). (Matched amounts always shown as double the backers' stake, never counts the layers' risk). There's no way a Betfair client would have £600m+ in their account. Maybe £20 or even £50m from the massive syndicates who regard(ed) Betfair as safer than any bank, but not £600m. So the error has to be something technical. However, rumour has it, a helpdesk reply (not gospel, natur

Betdaq.... sold...... FOR HOW MUCH???

So as rumoured for a while, Ladbrokes have finally acquired the lemon, sorry, purple-coloured betting exchange, Betdaq. For a mind-boggling €30m as 'initial consideration'. That's an even more ridiculous price than Fernando Torres for £50m, or any English player Liverpool have purchased in recent seasons! As I've written previously there are no logical business reasons for this acquisition. from Nov 29, 2012 The Racing Post reported this week that Ladbrokes are nearing a decision to acquire Betdaq. This baffles me, it really does. Betdaq are a complete and utter lemon. Their only rival in the market has kicked so many own goals over the years with the premium charge, followed by an increase in the premium charge, cost of API and data use, customer service standards which have fallen faster than Facebook share value, site crashes and various other faults. So many pissed off Betfair customers, yet Betdaq are still tailed off with a lap to go. Around the world, Betfair

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...