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  • Sky Bet swallows 50% rights increase to secure five-year EFL extension

Sky Bet has signed a five-year extension with the English Football League (EFL) to remain as the league’s title partner until the end of the 2028/29 season.

The record deal, which represents a 50% increase in new rights fees for Sky Bet, builds on an existing decade-long partnership between the two parties.

The deal will also see Flutter-owned Sky Bet invest £1m per season and £6m in total into a Community Fund held by the EFL to be invested into local communities.

The charitable initiatives in focus are still to be mutually agreed by both organisations.

According to Sky Bet parent operator Flutter Entertainment, the renewal includes a Memorandum of Understanding (MOU) on how to deliver objectives in a socially responsible manner.

For example, Sky Bet will not actively market themselves or their products in family areas of club stadiums or advertise to young fans.

The EFL will also dedicate a proportion of its central inventory to promote safer gambling messaging and support Sky Bet’s safer gambling campaigns.

On this topic, Sky Bet has committed to funding a player education programme across the EFL’s 72 clubs that will focus on the potential dangers of gambling.

The media spotlight is firmly focused on the gambling industry’s close relationship with football after Brentford striker Ivan Toney was handed an eight-month ban from the sport for a series of historical betting violations.

“The government’s recent gambling white paper highlighted the social responsibility measures that have accompanied our partnership as being an example of good practice for the wider sports sector to learn from.”
EFL CEO Trevor Birch

Premier League clubs have voluntarily voted to phase out front-of-shirt gambling sponsorships. The ban will apply from the start of the 2026/27 season.

The EFL, which covers English football’s second (Championship), third (League One) and fourth (League Two) tiers, has taken a different approach.

Sky Bet CCO Steve Birch said: “Football is central to who we are and it’s great to be able to support the game and provide investment for clubs across the pyramid.

“As the recent Sky Bet play-off finals demonstrated, the EFL is going from strength to strength with packed grounds and millions watching games here in the UK and around the world.”

Birch said the company was “absolutely committed” to safer gambling, adding the partnership would showcase how operators and organisations can work together to tackle gambling harm.

As part of the agreement, Sky Bet will also have the rights to award the official Manager, Player and Goal of the Month awards, as well as seasonal awards for each division.

EFL CEO Trevor Birch said Sky Bet had been a valuable commercial partner for more than a decade by offering clubs investment to help navigate a “volatile financial landscape”.

“The government’s recent gambling white paper highlighted the social responsibility measures that have accompanied our partnership as being an example of good practice for the wider sports sector to learn from.

“We will look to deepen our commitment to the promotion of safer gambling as part of this extension,” he added.

Flutter Entertainment must pay a fine of £490,000 to the UK Gambling Commission after a subsidiary contacted self-excluded customers with promo offers.

The failing, which occurred in November 2021, was committed by PPB Counterparty Services Limited, which was trading as Paddy Power and Betfair at the time.

The breach saw the operator’s app send an offer of enhanced odds for bets on a Premier League football match to Apple devices linked to accounts that were registered with UK self-exclusion scheme GAMSTOP, as well as accounts that had self-excluded with the licensee.

This action broke Commission rules requiring gambling businesses to take all reasonable steps to prevent any marketing material being sent to self-excluded customers.

Licensed operators are required to remove the name and details of self-excluded players from marketing databases within two days of the self-exclusion being completed.

“Although there is no evidence the marketing was intentional, nor that all the people with apps saw the notification or that self-excluded customers were allowed to gamble, we take such breaches seriously.”
UKGC executive director Kay Roberts

Flutter accepted the breach but initially appealed the penalty to the first-tier tribunal. It then agreed to dispose of the appeal and accept a substitute penalty of £490,000.

The operator contacted the regulator with news of the breach five days after it had occurred. The UKGC confirmed it had received no complaints from customers regarding the matter.

Kay Roberts, Gambling Commission executive director of operations, said: “Although there is no evidence the marketing was intentional, nor that all the people with apps saw the notification or that self-excluded customers were allowed to gamble, we take such breaches seriously.

“We would advise all operators to learn from the operator’s failures and ensure their systems are robust enough to always prevent self-excluded customers from being sent promotional material.”

This is the second six-figure enforcement action sanctioned by the UKGC this week after SkillOnNet was ordered to pay £305,150 for social responsibility and AML failures.

TikTok has expanded an existing trial for sports betting advertising on its platform in Australia to include two additional operators.

Advertising trial background

TikTok had never allowed gambling operators to advertise on its platform before November last year when a trial began which allowed Flutter Entertainment-owned Sportsbet – the biggest online betting company in Australia – to place a limited number of ads on the platform.

A report at the time in The Guardian suggested the brand would use the platform’s unique demographic mix to more effectively reach both young people and women.

Ads recommending customers bet on markets such as Rihanna’s Super Bowl half-time performance subsequently began appearing on TikTok in the run-up to the event, for example.

At that point, TikTok said the trial was a “closed pilot […] for one managed client who has obtained permission from TikTok via an application process.”

A spokesperson for the company added that the ads were only shown to users aged 21 or older and were closely monitored. The frequency of the ads was also restricted, and users had the option to opt out of seeing them.

Neds and Dabble join in

Now two new brands – Entain-owned Neds and a relative newcomer on the scene in social media-inspired operator Dabble – have also been approved to begin advertising on TikTok.

While the social media platform’s advertising policies for Australia state that “ads promoting lotteries, poker, casinos, bingo or any other gambling-related content” are prohibited, “advertisers may run sports betting ads on the platform with TikTok’s explicit permission.”

According to a new report in The Guardian, Neds is now encouraging users to download its gambling app, while Dabble is creating content in collaboration with former Australian Football League (AFL) star Dane Swan.

Ads must adhere to local marketing regulations as well as TikTok’s own guidelines, including the mandatory use of Australia’s responsible gambling slogans, such as “chances are you’re about to lose.”

Criticism floods in

However, some still suspect the ads will lead to an increase in gambling-related harm.

Simone McCarthy, a research fellow at Deakin University focused on gambling, told The Guardian that responsible gambling slogans are likely to be less effective on TikTok than on television, as “when you’re watching television, you’re forced to watch that message but on TikTok most users have already swiped to watch another video.”

In addition, concerns abound around operators’ ability to strictly define their audience by age and gender, with young women likely to be targeted with inducements to place bets on non-sporting events, such as reality TV programme Love Island.

Several commentators rushed to Twitter to express their concerns.

Daryl Adair, associate professor in sports management at the University of Technology Sydney’s Business School, said: “The most popular app for kids now a haven for gambling ads. What could go wrong?”

Independent Australian politician Kate Chaney, meanwhile, insisted: “We must effectively regulate this area – communities don’t want this.”

Messages like these are indicative of a wider push in Australia to reduce the amount of gambling advertising currently seen in the country.

Criticism of the industry and its practices has already led to developments such as Entain dropping its shirt sponsorships of Australian sports teams, the mandatory introduction of more discouraging responsible gambling slogans and calls for a wide-ranging crackdown on TV advertising.

Flutter’s US dominance was once again laid bare in its Q1 2023 financial report, although the company is also taking share from competitors in the UK & Ireland.

Topline numbers

Total Q1 revenue reached £2.41bn amid an annual rise of 46%.

Sports revenue rose by 53% to £1.5bn, while gaming revenue came in at £916m following a year-on-year increase of 35%.

The US, where Flutter is the market leader through FanDuel, was the standout performer on a geographic basis as revenue soared 92%, including a 147% climb in sportsbook revenue.

Flutter said this culminated in 50% US sports betting market share for FanDuel, with the US business “firmly on track” for profitability this year. Its iGaming market share is closer to 23%.

“In the US, the combination of the FanDuel Advantage and the Flutter Edge drove further market share gains,” said Flutter CEO Peter Jackson.

The operator added more than 1.5 million US customers in Q1 and its US sports betting handle of $10.9bn represented nearly 60% of the group’s overall sportsbook stakes.

Flutter reported revenue growth in all key markets except for Australia, where revenue declined by 4% year-on-year to £289m. This was blamed on tough Covid comparatives.

UK & Ireland revenue rose by 17% to £608m. In this market, online revenue rose by 17% to £532m as retail revenue grew by 15% to £77m driven by Paddy Power.

International revenue jumped by 69% to £605m and was boosted by Italian market leader Sisal.

Finally, average monthly players rose by 30% in Q1 to more than 12.3 million.

News nugget

The US has dominated the headlines for Flutter recently, and rightly so, but one of the most interesting takes from this report is that the company is also stealing market share in the UK.

The UK & Ireland division continued to significantly outperform the market with AMP growth of 11% to more than 4 million.

Sports revenue from the region grew by 16% driven by good retention of World Cup players from Q4 and strong customer acquisition.

A regional net revenue margin of 11.1% was in line with expectations but 150 basis points higher than last year thanks to an increase in the penetration of the operator’s BetBuilder products.

Regulus Partners analyst Paul Leyland said the Q1 numbers point to material market share gains versus both Entain and 888.

UK & Ireland gaming revenue rose 17% and was helped in the quarter by enhanced daily prize mechanics, with the introduction of bonus rounds and guaranteed jackpots. 

The firm’s Sky Vegas brand also benefitted from an expansion of live casino content which boosted player engagement.

Peel Hunt analyst Ivor Jones said Flutter was “clearly taking market share” in the UK.

“Customers acquired during the World Cup have been retained and contributed to sports
revenue being up 16%,” said Jones.

“Increased use of BetBuilder contributed to margin improvement and is further evidence of the advantages of Flutter’s scale in terms of technology and product development,” he added.

Best quote

“I’m really excited about it. It’s the sport of kings and it’s the coronation of King Charles this weekend.”
Peter Jackson Flutter CEO

For context, Susquehanna analyst Joseph Stauff asked whether Saturday’s Kentucky Derby was likely to be as big an acquisition event in the US for Flutter as Cheltenham Festival is in the UK.

Jackson said that people in 33 US states would be able to bet on the Kentucky Derby via the FanDuel racing app.

“All those Californians who are desperate to get a bet on can open their FanDuel app and I think we’re going to give people a $20 free swing,” said Jackson. “It will be a big opportunity for us to acquire customers,” he added.

Best question

Ed Young of Morgan Stanley was the first analyst to ask a question on today’s call.

With a credit card ban set to be introduced in Australia, Young asked about Flutter’s exposure to credit card deposits in the market and the potential financial impact going forwards.

Flutter is also the market leader in Australia with its Sportsbet brand, despite the 4% Q1 revenue decline.

“We’ve seen this happen all around the world,” said Jackson. “When regulatory changes happen, we grow through those typically and it helps reinforce our market-leading position.”

Jackson said that only a small percentage of Flutter’s Australian customers solely use credit cards.

“If we look at what happened when credit cards were banned in the UK, we guided to a 2% revenue headwind and I think that is probably a reasonable estimate for you to use in Australia,” he added.

Current trading and outlook

Leyland of Regulus Partners provided some competitive market outlook commentary following Flutter’s strong performance in both the UK and the US.

“Flutter’s ability to use a strong central platform and local businesses with sufficient scale and flexibility to differentiate is not just paying off, it is changing the nature of the competitive landscape in regulated markets, in our view.

“While we do not believe that gambling markets ever adopt ‘winner takes all’ economics (outside liquidity-led products), we are now seeing ‘winner makes it very uncomfortable for everybody else’ dynamics which look set to become more pronounced rather than less in the medium term.”

The advisory firm believes Flutter’s main competitive threats are now coming from the black market, which is taking advantage of Flutter’s increasing compliance-led focus on recreational customers.

“For regulated markets to work effectively, legitimate VIPs need a champion too,” Leyland added.

As the dust settles on the UK government’s white paper, gambling industry stakeholders have had their say on the biggest proposed shake-up of regulation in nearly two decades.

The long-awaited review proposed a string of measures, including a statutory levy on operators to fund public health programmes, a stake cap for online casino spins, and more stringent financial evaluations for individuals struggling with gambling addiction.

From supportive statements to critical comments, the responses to the white paper have been vivid and varied. iGaming NEXT has collected some of the most noteworthy below.

Flutter Entertainment

Flutter Entertainment, the parent company of Paddy Power, Betfair and Sky Bet, was among the first to react to the white paper.

The company said it had already lost £150m in annual revenue from its UK business in response to the proposed measures by pre-emptively introducing safer gambling restrictions, with a further £50m-£100m hit likely to be felt sometime in 2024.

Flutter also welcomed the review of the UK’s gambling regulations and said it was necessary for raising industry standards and prioritising responsible play.

Flutter CEO Peter Jackson urged the regulator to tackle the growing number of unlicensed and unregulated gambling companies targeting at-risk gamblers.

“It is important to get new regulation right from the start, as it will ultimately provide the certainty our industry needs to continue investing in jobs and in further growing the UK’s lead in digital innovation in our rapidly evolving market,” he added.

The company said it has already taken steps to introduce player protection measures and, along with Entain, Bet365 and 888, pays a voluntary levy of 1% of its annual gross gaming revenue for research, education and treatment.

In an interview with the Financial Times, Jackson said he hoped the funds generated from the industry’s contributions would continue to be used for research, treatment and education around addiction, rather than for campaigning to stop gambling completely.

He argues that campaigners have had ample opportunity to make their case over the past two years, and it is crucial to avoid repeating those arguments.

However, Will Prochaska, strategy director of Gambling with Lives, which does not receive funding from voluntary contributions, insists Jackson is trying to influence how the money is spent in future.


Meanwhile, Entain, the parent company of Ladbrokes and Coral, stressed that it too had already implemented several player protection measures, such as the introduction of affordability checks on customers from as low as £100 and the termination of its UK VIP scheme in 2020.

Entain expects the proposals outlined in the white paper, materially mitigated by the proactive actions it has already taken, to have an impact of less than 1% on group online net gaming revenue in financial year 2024.

Entain CEO Jette Nygaard-Andersen commented: “The UK Gambling Act Review is an important step towards having a robust regulatory framework that is fit for the digital age and creates a level playing field for all operators.

“We are firmly in favour of regulation that preserves the market for the vast majority of customers who enjoy recreational betting and gaming, while also ensuring appropriate protection to all players,” she added.

Alun Bowden

Alun Bowden, senior consultant at Eilers & Krejcik Gaming, wrote in his blog The State of Online Gambling that the white paper “is more the end of the beginning than the beginning of the end for the UK online gambling sector”.

Bowden also disputed reports that major operators have already made necessary changes. “This is just patently not true,” he said and emphasised that there is still much to be decided upon.

“There are a dozen headline consultations and quite a few smaller ones and there are around 60 projects for the Gambling Commission to work on as a result of the white paper.

“All of this is intended to be completed before the 2024 general election and most of the consultations are set to run concurrently during summer 2023.

“You don’t need to be a natural born pessimist to think this is unlikely to generate optimal outcomes for anyone,” he added.

Bowden also said that “the most extraordinary aspect” is how advertising and marketing effectively gets a total wave through, with no new limitations being proposed.

Dan Waugh

Dan Waugh, partner at advisory firm Regulus Partners, shared his analysis on GB News UK.

He gave the white paper an eight out of 10.

However, he said the most worrying element is that given the large number of consultations, the bulk of the work will need to be implemented by the regulator (which has a poor track record in his opinion) and outside of parliamentary scrutiny.


Numis director Richard Stuber agreed with Waugh and also pointed to the 260-page report and the fact that most of the proposed measures will require a further consultation in the summer.

However, Stuber noted that the announcement is not hugely price-sensitive, with the exception of the Rank Group, which is likely to see material earnings upgrades given that it generates the majority of its revenue from land-based venues.

Rank Group

Rank Group CEO John O’Reilly stated that while their UK digital business will be impacted by new regulations, their land-based operations will benefit from the proposed changes.

O’Reilly believes that swift implementation of these regulatory changes is crucial for the land-based sector to meet the needs of today’s consumers and uphold their commitment to safer gambling.


Matt Gaskell, head of the NHS Northern Gambling Service, disagreed with the proposed measures and argued they will not do enough to prevent harm caused by addictive products.

Writing in the Guardian, he said that evidence of harm has been submitted to the government.

Gaskell believes the threshold for affordability checks (after £1,000 is lost in 24 hours) is too high and suggests this figure should be lower.

He also advocated for a ban on all gambling advertising and stake limits of £2 per spin on online slots.

Kindred Group

Neil Banbury, Kindred’s general manager for the UK, shared his interview with Sky News on LinkedIn.

During the interview, he stressed that the most important thing is that the money raised as a result of the new statutory levy goes to fund charities that “are already doing very valuable work”, and also that it funds truly independent and evidence-led research.

However, he avoided answering questions about how much Kindred spent on lobbying ahead of the publication of the white paper publication.

Betting and Gaming Council

Michael Dugher, CEO of the Betting and Gaming Council trade body, stated that the BCG needs time to consider the full detail and impact of the proposals.

However, he also said that now is the time to look forward.

“This white paper is a once in a generation moment for change and its publication must draw a line under the lengthy and often polarised debates on gambling,” said Dugher.

“Betting and gaming is popular, contrary to misconceptions, the numbers of people betting are stable and not increasing, problem gambling rates are stable and low, and our members are a genuine British business success story, ploughing billions into the economy.

 “The focus should now be on continuing to drive higher standards, while investing in jobs and businesses in the UK’s world-leading regulated industry,” Dugher concluded.

Bet365 and Betfair have been struck with fines totalling SEK83m (€7.3m) by the Swedish Gambling Authority (SGA).

Bet365 not proactive enough

The vast majority of those fines were issued to Hillside Gaming and Hillside Sports, the respective parent companies behind bet365’s online casino and sports betting operations in Sweden.

Hillside Sports bore the brunt of the fines as it was ordered to pay a penalty fee of SEK65m.

Hillside Gaming, meanwhile, was ordered to pay a further SEK14m.

The SGA said it believed that both companies had not taken sufficient measures to protect their customers against excessive gambling.

The operator did not help customers to reduce their gambling when there were reasons for doing so, the regulator said, and also allowed customers to gamble without setting deposit limits, which is a requirement of Swedish gambling regulations.

In addition, the operator had not worked proactively enough regarding customer risks in cases where customers exhibited problematic gambling behaviour.

The SGA said it had taken too long for bet365 to implement measures aimed at preventing harmful gambling, and as a result the regulator determined that the operator had breached its duty of care.

Bet365 specific failings

The SGA analysed customer data from a number of bet365 sports bettors and casino players over a period of two months from October to December 2021.

By way of example, the regulator found that one customer, born in 2001, had a monthly deposit limit of SEK5m, and lost SEK261,593 over the two-month audit period.

The customer deposited funds on 53 of the 62 audited days, and the SGA found that they had spent many consecutive days and nights gambling with increasing frequency, often depositing funds several times per day.

During the first week of the audit, the customer made 61 deposits totalling more than SEK90,000, using the funds to place 66 bets.

After increasing frequency saw the customer deposit more than SEK368,000 over 85 occasions in the third week of the audit process, bet365 prompted them to complete a mandatory self-examination test for problem gambling.

The operator said the results of the self-examination did not give it any cause for concern. On the same day, the customer made a further 12 deposits totalling SEK17,200.

After continuing to gamble heavily for several more weeks, the customer was eventually prompted by bet365 to take a break in the form of a timeout, and to review their existing deposit limits.

The customer’s gambling subsequently decreased for the following two weeks, before the activity began to increase again.

Following the end of the audit period, the customer’s account was automatically suspended by bet365 after their details were registered with the self-exclusion register Spelpaus.

Several other customers exhibiting similar behaviour – making several deposits every day totalling hundreds of thousands of kroner per week – were identified by the SGA over the audit period.

Bet365 told the regulator that it had carried out full risk assessments of the customers including special considerations for younger players and those previously registered with self-exclusion schemes.

The operator added that it did not accept that it allowed players to play without a deposit limit.

While it did have a ‘no limit’ option when asking players to set boundaries, it argued that its system in fact limited deposits to under SEK500m (€44.1m).

Bet365 outcome

The SGA determined that by allowing customers to play without deposit limits and taking a relatively ‘light’ approach to those exhibiting potentially harmful gambling behaviour, bet365 had failed in its duty of care to its customers.

Actions taken by bet365 related to customers showing signs of harm should have been taken earlier in the customer relationship, the regulator said, ensuring that customers were contacted before they experienced harm, and not after.

Bet365 has now agreed it must contact any players who raise their deposit limit or specify a limit higher than SEK10,000 per month.

It will also follow up more closely with customers who lose more than SEK10,000 per month, and has introduced lower thresholds for contacting customers who are younger or who have previously self-excluded from gambling.

It has also removed the ‘no limit’ option for customers setting deposit limits on sign-up.

The SEK65m penalty fee issued to Hillside Sports equates to some 9% of its annual SEK724.6m GGR for the previous year.

The SEK14m penalty issued to Hillside Gaming was equal to around 20.3% of its annual SEK69m in GGR.

Betfair also under the microscope

Flutter Entertainment-owned Betfair, meanwhile, was issued a SEK4m fine after offering betting on the Under-21 Allsvenskan football league on several occasions during 2021 and 2022.

Betting on football in the Swedish league system may only be offered at the four highest league levels, according to Swedish gambling regulations.

The regulator described the violation as serious and suggested that it occurred systematically.

Betfair offered gambling on 148 matches in the under-21s league, with 224 customers placing bets on 139 of the matches, with wagers totalling SEK1.1m.

The markets were only offered on Betfair’s exchange service, and not on its fixed-odds sportsbook.

Betfair said the violation was a result of certain betting markets needing to be blocked manually in particular jurisdictions.

Betting on the league was therefore permitted on Betfair’s Swedish exchange in error.

The operator said it has since implemented several measures to prevent such violations from happening again.

The SEK4m penalty fee was the equivalent of 12.2% of Betfair’s SEK32.7m in Swedish GGR for the financial year 2021.

Flutter Entertainment has appointed former Kellogg CEO John Bryant as a non-executive director and chair designate.

Bryant is set to join the board after Flutter’s annual general meeting today and will step up as chair, replacing Gary McGann, on 1 September 2023.

Bryant is currently a non-executive director of manufacturing company Ball Corporation, foodservice company Compass Group PLC, and Coca-Cola European Partners.

He was previously executive chairman, CEO, CFO and COO of breakfast food giant Kellogg Company.

He is also a non-executive director of Macy’s, with his tenure there ending next month.

Bryant is set to replace Flutter’s outgoing chair Gary McGann following his nine-year tenure as a non-executive director of the firm, in line with the company’s board succession plan and good governance practice.

In addition to his role as chair, Bryant will be appointed to the nomination and remuneration committees of Flutter’s board, and will become chair of the nomination committee on 1 September.

“John has had a stellar career in Kellogg Company, one of the most internationally renowned companies in the world. He brings with him an enormous wealth of leadership experience in strategic, financial, and operational matters.”

– Outgoing Flutter Entertainment chair Gary McGann

“We are delighted to announce John’s appointment as chair,” said outgoing chair Gary McGann. 

“John has had a stellar career in Kellogg Company, one of the most internationally renowned companies in the world. He brings with him an enormous wealth of leadership experience in strategic, financial, and operational matters.

“It has been a privilege to serve as chair of this very special company and I wish John every success as he joins the board at this pivotal point in Flutter’s evolution. I will use my remaining period as chair to ensure a seamless transition to John,” McGann concluded.

Bryant himself added: “I am very excited to succeed Gary as chair of Flutter. I look forward to working with [Flutter CEO] Peter [Jackson] and the management team to grow the business and to take advantage of the many exciting opportunities that lie ahead.”

Flutter CEO Jackson took the opportunity to thank McGann for his time spent dedicated to the company.

He said: “I would like to thank Gary for the contribution he has made to Flutter over his nine years as non-executive director, eight of which were as chair. 

“He has helped steer the business through an exceptional period of growth. I am very much looking forward to working with John. His experience will be invaluable as Flutter continues to execute its growth strategy.”

At today’s annual general meeting, Flutter shareholders will vote on the election and re-election of directors, the company’s 2023 directors’ remuneration policy and long term incentive plan, as well as authorisations to allot relevant securities and market purchases of the company’s own shares.

The CEO of Flutter Entertainment-owned Sportsbet was involved in a heated exchange over the blocking of successful gamblers from betting sites this week. 

During a parliamentary inquiry into online gambling, House of Representatives committee chair Peta Murphy said she knew someone personally whose betting access had been restricted when winning while using bonus offers.

Sportsbet CEO Barni Evans said customers are blocked in a number of scenarios, including if they are betting on behalf of other individuals, or if they are in a cooling off period between setting deposit limits.

However, Evans also said the company intervenes when customers appear “to be using privileged information”, and if their behaviour is distorting the market and affecting the experience of other customers.

Peta Murphy:“We don’t understand why it’s difficult to say yes or no to this question.”

“What’s privileged about being mathematically gifted enough to use arbitrage to use promotions and inducements in a way that means you can’t lose?” Murphy asked.

“We’re not opposed to mathematically gifted customers,” Evans reiterated.

He said they are simply looking after the majority of their customers when one customer is using information that might not be accessible to the rest of the market, for example because the customer is a trainer betting on horse racing.

Response interpreted as a “yes”

Murphy further pressed Evans for a straightforward answer: “I’m not asking you about a version of insider trading. I’m asking whether Sportsbet stops people from betting if they’re winning because they’re able to use the promotions and inducements in a way, which means that they can’t lose.”

Evans repeated a similar response, which left Murphy puzzled: “We don’t understand why it’s difficult to say yes or no to this question,” she said.

Ultimately, Murphy accepted Evans’s response as a “yes, you stop people who are consistently winning from betting “.

“That’s your prerogative,” Evans replied.

Sportsbet holds a 48% market share and is the Australian market leader.

Australia’s gambling review

The committee is considering the effectiveness of Australia’s current gambling regulations and is expected to deliver its recommendations by the middle of the year.

Gambling in Australia is regulated at both state and federal levels.

Each of the eight mainland states and territories have their own gambling regulatory framework, and there is no single overarching statute or authority.

That this exchange happened in Australia puts it ahead of the UK where as yet it hasn’t – and as part of the Review it really should have done – but she misses a trick focussing only on promotion abusers and arbers. They aren’t ‘mathematically gifted’ and restricting them is fine https://t.co/cKrMHrkswl

— Nick Goff (@nickgoff79) April 4, 2023

Tabcorp CEO Adam Rytenskild has recently criticised this state-based model and advocated for a national framework.

Elsewhere, DraftKings CEO Jason Robins also spoke about his company’s approach to bonus hunters in the US market.

Robins said that his firm is using data to identify “sharp bettors that we need to limit or bonus hunters that aren’t going to create real long-term value and just want to hop around and take bonuses”.

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After announcing its intention to list shares in the US, David Cook examines the logic behind a dual listing for FanDuel parent Flutter Entertainment.

“We believe an additional US listing of Flutter’s ordinary shares will yield a number of long-term strategic and capital market benefits. We look forward to continued engagement with investors and stakeholders on this matter and we will announce the results of this engagement in due course.”

There can be no doubting Flutter Entertainment’s ambitions at this time.

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