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?
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?
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