Skip to main content

Unibet make their choice in the Aussie market

Australian online bookmaker BetChoice has long been a potential acquisition target for European bookmakers wanting to step into the lucrative Australian market. Numerous firms are believed to have looked at them closely, but stepped back for a number of reasons including price tag and local bans on non-wagering products. BetChoice was the brainchild of Colin Tidy and Mark Morrissey, veterans of the Australian bookmaking fraternity, and like their counterparts Mark Read, Con Kafataris, Terry Lillis, Bryan Clark and others, the time was nigh for them to cash in on their years of labour while the going was good.


Unibet signs agreement to acquire Betchoice and enter regulated Australian market

Unibet Group plc today announces that it has signed an agreement to acquire 100 per cent of Betchoice Corporation Pty Ltd, one of Australia’s leading independent corporate bookmakers online. Betchoice operates a range of sports and racing betting products in the Australian market through its web site www.betchoice.com.
.
.
The initial acquisition price is AUD 20.0 million (GBP 13.6 million), on a cash free and debt free basis, payable in cash on closing.
.
.
“This strategic acquisition gives Unibet immediate access to the regulated Australian market, which is currently open to sports betting and horse racing. We intend to rebrand the business quickly to Unibet. Betchoice already has a strong offering and market position in horse racing and through Kambi, Unibet has the opportunity to enhance the quality and performance of Betchoice’s sports betting offering and so to deliver revenue growth and margin improvements,” says Henrik Tjärnström, CEO Unibet.


A good choice to acquire? Well, for Unibet yes, now that the price tag had become quite reasonable. But for Australian punters, I can't see this being a good thing at all. They are an awful bookmaker for anyone who likes betting more than $10 and beyond the obvious mug bets/markets. They've not been able to penetrate the UK because they struggle against proper competition and they will suffer the same fate in Australia. BetChoice were by no means a big bookie, but their roots were from the day when bookies would take risks and lay big wagers. And if they wanted to offload any of the risk, they'd send it around the industry. Look after your clients first because if you don't, someone else will take them off your hands. Local involvement in their revised sports product and risk management is going to be essential or these guys will go to pot very quickly...

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

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...

Wimbledon preview - women

Unfortunately this year I don't have the time to write comprehensive Slam previews anymore so I'll sum this one up pretty quickly - it's all about Serena. 1 - Serena Williams. In incredible form. Since bombing out in R1 of the French Open last year, she has lost just three times - to Kerber (Cincinnati QF), to Stephens (Aus Open QF) and to Azarenka (Doha final). She has won three of the last four Wimbledon finals plus the Olympic gold last year where she dropped just 17 games in six rounds, against opponents which included four former world #1s. All that considered though, I can't have her at 1/2 (1.50) on Betfair. She just has to be opposed. I can't put a finger on who is going to beat her, but I have to side with her prospective opponents. If you want a smokey to put some small change on, try Maria Kirilenko. Her record in the Slam isn't so great but it has been improving - a best result of R4 last year beaten by finalist Radwanska 7-5 in the third, and