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Australian online bookmaker (founded 1993)

Sportsbet is an online gambling company owned

by Flutter Entertainment, primarily targeting the Australian market. Sportsbet ♣ is

licensed as a corporate bookmaker in the Northern Territory under the Racing and

Betting Act 1993 (NT).

Sportsbet is headquartered ♣ in Melbourne and seeks to operate

within the boundaries set by multiple Australian regulatory authorities at a federal

and state ♣ level. This regulation involves varying restrictions on products and

promotional activities that can be offered by licensed corporate bookmakers in

♣ Australia.

The company was acquired by Paddy Power in December 2010, and since 2

February 2024, it has been owned by ♣ Flutter Entertainment.[2]

History [ edit ]

The

business name Sportsbet Australia was first registered in 1994, with domain name

registered in 1999.

In ♣ May 2009, 51% was acquired by Paddy Power, who continued brand

name and company operation as a separate entity, while ♣ offering additional services.[2]

The takeover allowed to acquire rival betting company International All Sports Limited,

for 27.2 million euros.[3]

In March ♣ 2011, Paddy Power took full ownership of

Sportsbet.[4][5]

Paddy Power and British rival Betfair agreed terms for a merger on 8

♣ September 2024. The business is owned 52% by the former Paddy Power shareholders and

48% by the former Betfair shareholders.[6] ♣ The merger was completed on 2 February

2024.[7] On 5 April 2024, it was announced that 650 jobs in United ♣ Kingdom and Ireland

would be lost at the company.[8]

On 6 March 2024, Paddy Power Bet Fair announced that

it would ♣ rebrand as Flutter Entertainment, pending shareholder approval at the

company's annual general meeting in May. Flutter was originally the name ♣ of a betting

exchange acquired by Betfair in December 2001. The company stated that the rebrand,

which took place on ♣ 28 May 2024, would not affect the company's individual customer

facing gaming brands.[9]

In May 2024, the global merger between Flutter ♣ Entertainment

and The Stars Group was finalized following regulatory and shareholder approvals.

Sportsbet and BetEasy formed the Australian component of ♣ the merger.[10] Incumbent CEO

of Sportsbet Barni Evans was appointed to lead the combined Sportsbet and BetEasy

businesses, with a ♣ decision made to move forward with the sole Sportsbet brand,

retiring the BetEasy brand following a period of migration and ♣ integration.

In November

2024, Sportsbet lost more thanR$50 million due the oddsmakers mistake.

Markets [ edit

]

Sport [ edit ]

Sportsbet has markets ♣ for 25 different sports: American football,

Australian rules football, baseball, basketball, boxing, cricket, cycling, darts,

e-sports, Gaelic football, golf, handball, ♣ ice hockey, motorsports, rugby league, rugby

union, snooker, soccer, "sports novelties", table tennis, tennis, mixed martial arts

(MMA), volleyball and ♣ waterpolo.[11]

Politics [ edit ]

Sportsbet has markets for

elections in many countries.[12] These include federal, state and territory elections

in Australia, ♣ federal elections in Canada, general elections in New Zealand and the

United Kingdom, presidential elections in the United States. This ♣ includes markets such

as "Democratic/Republican presidential nominee", "next Labor/Liberal leader", "next

Conservative/Labour leader" and "year of the next Australian federal ♣ election". It has

also included special markers such as "next NSW Liberal leader" for the 2024 NSW

Liberal Party leadership ♣ election, "next Western Australian Premier" (following the

resignation of Mark McGowan) and "next state/territory to elect a Liberal government"

following ♣ the 2024 New South Wales state election, which saw the Labor Party hold power

federally and in every mainland state ♣ or territory, leaving Tasmania as the only state

with a Liberal government.

However, political odds on Sportsbet have faced controversy

before.

Accuracy ♣ [ edit ]

Australian elections [ edit ]

Australian federal elections

Year Predicted Winner 2013[13] LNP 2024[14] LNP 2024 ALP LNP 2024 ♣ ALP Next ALP TBD

NSW

state elections Year Predicted Winner 2024 LNP 2024 LNP 2024 ALP

Victorian state

elections Year Predicted Winner ♣ 2014 ALP 2024 ALP 2024 ALP

Queensland state elections

Year Predicted Winner 2024 LNP ALP 2024 ALP 2024 LNP TBD

WA state ♣ elections Year

Predicted Winner 2024 ALP 2025 ALP TBA

SA state elections Year Predicted Winner 2024

ALP LIB 2024 ALP

Tasmanian state ♣ elections Year Predicted Winner 2024 LIB 2024 LIB

general elections Year Predicted Winner 2024 ALP TBD

International elections [ edit

]

Canadian ♣ federal elections Year Predicted Winner Next CPC TBA

NZ general elections

Year Predicted Winner 2024 NAT TBA

Spanish general elections Year Predicted ♣ Winner 2024

PP TBA

UK general elections Year Predicted Winner Next LAB TBA

US presidential

elections Year Predicted Winner 2024 DEM GOP ♣ 2024 DEM 2024 DEM TBA

Entertainment [ edit

]

Sportsbet has markets for several television programs when they occur, including

reality television ♣ programs and award shows amongst others.[15]

Controversies [ edit

]

For the 2024 Australian federal election, Sportsbet tipped the Labor Party, led ♣ by

Bill Shorten, to defeat the incumbent Coalition government, led by Scott Morrison.

Sportsbet paid out all bets for Labor ♣ winning the election two days before the

election, which was won by the Coalition and Morrison was re-elected Prime Minister.

♣ Sportsbet lost overR$AUD5.2 million due to the early payout for an incorrect

result.[16] Another mistake made was the option of ♣ punters betting on the Family First

Party to win the 2024 election, which had a 1000/1 chance to win despite ♣ the party

being dissolved in 2024.[17]

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