It is a well-known fact that Australia’s gambling market is quite saturated, with dozens of operators competing for business from local punters. It seems that one operator couldn’t take the heat, as Betfred has recently announced that it is withdrawing from the market due to it being ‘overpopulated’. In recent years, many international gambling operators have seen lucrative potential in the Australian gambling market.
Companies like Betfred and William Hill were eager to get involved and offer their services to the millions of Australians who engage in sportsbetting. However, the competition in the country seems to be too much for Betfred to handle, and the company will no longer offer its services here. Betfred initially entered the Australian gambling market in May 2014, opening up a mobile sportsbetting service with GTECH.
The company aimed to focus on mobile betting, as it was quite a unique niche that would attract plenty of players. However, Betfred failed to capture the niche market, as the company saw a significant increase in competition from other international operators like William Hill and Ladbrokes. In addition to oversaturating the market, this also caused an increase in marketing and operational costs.
“Following a review of the business it was felt that the market had become overpopulated, we have therefore decided that our marketing spend and ongoing infrastructure costs are best spent elsewhere,” says John Haddock, chief executive of Betfred Group. The good news is that Australian punters still have plenty of options when it comes to betting online and via mobile channels.
Local operators like Tabcorp and international operators like Ladbrokes continue to thrive, and punters can access a wide range of sportsbetting activities through these sites. Australian players who have accounts with Betfred will have their money returned to their accounts.
About the Author
