SBC News Voice of the Sports Betting Industry
Australian media reports that Betr, the new sportsbook venture of Matthew Tripp, has pulled out of its ‘leading bid’ to take over management of the Western Australia TAB (WA TAB).
This October, the WA Gaming and Wagering Commission surprised industry observers by naming Betr, a yet-to-be-launched sportsbook, as the frontrunner to win its WA TAB contract.
The decision was branded as an ‘early triumph’ for Betr, deemed as the preferred suitor to operate WA TAB offices ahead of established operators Tabcorp and Entain.
The WA Commission had granted Betr a two-week period to raise funds of AUS $1bn (€640m) to guarantee the financing of its exclusive contract.
Yet this morning, The Australian reports of an “eleventh-hour dispute” between the WA government and Betr in relation to the final terms of the contract.
“It is understood that Betr had a late dispute with the state government over the WA TAB’s branding” – The Australian cites.
Betr is reported to have dropped out of negotiations, as it was unable to secure a rebrand of the WA TAB to its own identity, deemed a priority for its wider Australian sportsbook market launch.
Tripp, who fronts Betr, did not want his new venture to carry the ‘TAB’ logo, which is closely aligned with market rival Tabcorp.
The turnaround reflects another frustrating chapter for the WA government in its botched mandate to sell the WA TAB, which was first initiated in 2018.
The WA Government will likely return to Tabcorp to run its betting offices due to the firm being the ‘safest choice’ in which it operates all state-sanctioned retail betting contracts across Australia.
Should Tabcorp proceed, it is expected to demand the WA government to guarantee a substantial discount to operate the wagering contract.
Company CEO Adam Rytenskild had previously stated that a bid to operate WA TAB was not a priority for Tabcorp leadership, who are focused on the upgrade of the group’s online offering.
Rytenskild has acknowledged to investors that TAB had fallen behind in its digital and omnichannel offering, as the development of the wagering unit had been interrupted by two years of prioritising the integration of the Tatts lottery business.
