This really makes me wonder whose actually controlling sporting codes. Anyone who thinks that games and even finals can't be touched for the sake of big $$ needs to think again.
Betting agency’s $40m payout for Penrith premiership believed to be largest in Australian history
News Corp-backed Betr attracted controversy last year when it offered 100-1 odds on the 2023 NRL and AFL grand final winners, as well as other sports
The News Corp-backed betting agency Betr is in the process of paying out $40m in bets after Penrith’s grand final win on Sunday, which the company believes is an Australian record.
Betr attracted significant controversy earlier this year over its widely advertised launch campaign offering 100-1 odds on the Melbourne Cup, something that prompted regulatory intervention and a record $210,000 fine.
The company also offered 100-1 odds on this weekend’s NRL and AFL grand final winners, Penrith and Collingwood. Bets were capped at $10, and Betr received tens of thousands of bets on the Panthers, who were favourites to take out their third NRL premiership in a row.
earlier this year over its widely advertised launch campaign offering 100-1 odds on the Melbourne Cup, something that prompted regulatory intervention and a record $210,000 fine“
The important thing to note, with that launch campaign, we had always anticipated it would cost us somewhere between $50m and $80m, depending on how the results fell,” Tripp said.
“But from the 320,000 customers we have acquired through running that campaign, the gross profit we have generated from those customers alone is $225m.”
Speaking prior to Sunday’s final, Tripp said the purpose of the deal was to attract customers, who would go on to bet on other events, such as racing
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CE, you have to understand something about money and finance before you go of half cocked because the big numbers dazzle you.
That headline is total garbage and misleading!!!! Are you so stupid not to have read the statement......it clearly says those customers alone.......on all their promotions......many much bigger than the NRL Grandfinal I might add.
BTR has lost a lot of money since they launched......when yo read "the gross profit we have generated from those customers alone is $225m.” you need to look at the carefully way it is worded. i.e. "the gross profit" and not the net profit, they are overall been a bit of a disaster because they are in net loss since they launched. Matt Tripp is a big name in the world of book making and a very rich man from past successes, you would know I am sure that he is Chairman of the Melbourne Storm, a past owner of betting agencies that were onsold after building them up.A number of major backers have pulled out of BTR and he is running a public realtions campaign to reestablish some credibility. Best you say the silent prayer "please god help me to keep my mouth shut, until I know what i'm talking about"
PS Their turnover would be peanuts in comparison to the big players like Sportsbet, Ladbrokes and the TAB. On a personal note, I bet with them when they started with all those promotions but ceased doing so when they finished. I don't like the company and the way they tried to promote their business. I have accounts with many corporate bookmakers but I mainly use Ladbrokes when I punt on week ends. I rarely bet on football matches, but let me say the days of a player or referee receiving any large payouts is very well controlled under the Austrac guidelines. The real corruption was in the 60's,70's and the eighties when no corporate's existed, it was with the unofficial SP Bookmakeing fraternity back then and you have no idea how corrupt they were in those days.
So the bottom line is corporates actually through turnover give a wonderful income to Racing Clubs, Football Associations and State Goverments, all lost if some idiot wanted to ban them and return to the bad old days......which wont happen.
Finally the aspect of gambling that is so abhorent to people who know nothing about it, is as old as mankind and basic freedom we all have, the good news is we are now protected where once we were not.
You CE are more dangerous with the type of innuendo that you create by writing in social media a veiled description of what you feel must be corrupt or conspiratorial.
So Poppa your saying in essence that you wouldn't like say $225m in gross extra cash in your bank account tomorrow. So if their turnover is peanuts compared to as you say Sportsbet, Ladbrokes and the TAB. Then how many millions of $$$ are those agencies making on sporting matches, Origin, Grand Finals, world cups in gross of course. It must be astronomical! Really makes me wonder whose really controlling sports and matches
Thats the problem CE, you are an eighty old child trying to work something out.....have you come to the terms of your head line yet....when you look at the gross, its one side of a balance sheet.....the net is the first bottom line.....this particular company lost money in its first year of operations.
This is an extract from the Financial review
It has not been a smooth ride for Mr Tripp and Betr’s investors since launching in April 2022. The company was founded as a three-way joint venture between Mr Tripp, Las Vegas consortium Tekkorp and News Corp.
All tipped start-up capital into the venture, with senior News Corp executives Mark Reinke and Peter Blunden joining the board. It was part of an effort by News Corp to push deeper into online sports gambling in the United States and Australia.
But the media company has already haemorrhaged money on the investment. In recent annual filings, News Corp said its losses related to Betr totalled $72 million. In March, Mr Reinke and Mr Blunden left the Betr board.
Thankyou BETR!!!
Heard about your luck Analyst....good on you son. Did they try and offer you a deal? It was only a grand admittantly but better than a kick in the arse!
Yea they offered $400 round 25 lololololol would have taken $700. Btw they also offered 100/1 on any horse in 2022 Melbourne Cup, I had Gold Trip :) no luck in the AFL (Geelong) and NBA.
Yeh! I took the odds on the Cox Plate and my horse was favourite and scratched before the race.....there were stacks of different offers.....Gold Trip was 25's anyway and would not have hurt them badly.....the real advantage was taking the odds as value compared to the actual price, your bet was a smart choice, not because you won, but the value it offered.
oh really. lol
2 touch judges and the ref miss a 2 mtr foward pass. They miss the odd knock on.
Simply put. Way too much limitation on aducating a game of football by preventing reviews of foward passes when tries a scored. I struggle to watch a game of football on tv. The NRL and the betting agencies do treat people like idiots.
Don, Analyst was one of the fortunates that got the 100/1 on Penrith (max bet $10).
The NRL may treat people like idiots, the betting anencies are much more succinct.
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