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Non Footy Chat Thread II

Twizzle

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In case you're wondering why Fox has been hammering Betr, the new gambling site, they are a significant share holder, but wait:


Watchdog issues News Corpā€™s Betr show cause notice two days after launch​

Amelia McGuire

ByAmelia McGuire

Updated October 14, 2022 ā€” 6.31pmfirst published at 1.07pm

News Corp-backed online wagering group Betr has been hit with a regulatory investigation just two days after its highly anticipated launch, with a key state government authority warning a promotion the outfit ran this week may have breached advertising laws.
Liquor & Gaming NSW on Friday issued Betr a ā€œshow causeā€ notice after the company ran advertisements in News Corpā€™s tabloid newspapers offering 100-1 odds for bets up to $10 on any horses racing in the Melbourne Cup in November. The regulator said it would investigate the issue and if necessary respond with the ā€œfull forceā€ of the law.
Betr, the new venture from veteran gambling entrepreneur Matthew Tripp and former BetEasy executive Andrew Menz, launched this week ahead of the Everest Carnival and Caulfield Cup, two of the biggest horse racing events of the year.

Betr founder Matthew Tripp.CREDIT:JESSE MARLOW
The outfit is backed by News Corp ā€“ the owner of a string of prominent newspapers in Australia and controlling shareholder of pay TV giant Foxtel, Las Vegas-based investment firm Tekkorp Capital and ASX-listed BetMakers Technology Group. The Murdoch family, which controls News Corp, has pushed heavily into sports betting in the US after it became legal in certain states in 2018. Betr is the media giantā€™s first foray into wagering in Australia.

Liquor & Gaming NSW told this masthead that Betr had until October 20 to respond to its concerns that the advertisements breached the stateā€™s gambling laws. The authority will then ā€œconsider what enforcement action, if any, can be takenā€.
Print advertising that includes inducements to open betting accounts is prohibited under NSW legislation. About 30 Betr advertisements will be investigated for possible breaches, the regulator said.
Under the Betting and Racing Act of 1998, Betr faces a maximum fine of up to $110,000 for each public ad or prosecution in court if it fails to persuade the regulator it was not in breach.
The Australian Financial Review first reported the suspected breach on Friday morning. Betr declined to comment.
Betrā€™s app became available on Thursday, a couple of days after the outfit was selected as the preferred bidder for the WA wagering licence. Wagering sources close to the situation said the WA government had granted the new bookmaker two weeks to demonstrate it has the financing required to hold the $1 billion WA TAB.

Three major private equity firms - Apollo Global Management, Washington H. Soul Pattinson and Blackstone - have offered to finance Betrā€™s play for the licence, according to the sources.
Tripp, who built the Sportsbet and BetEasy brands in Australia, said his ambitions to launch another wagering company came from the idea of leveraging the assets of media partner News Corp.
This masthead revealed last year News Corp was investing in a bookmaking outfit with Tripp after on and off talks with other potential partners. News owns 33 per cent of the venture, which is also backed by Las Vegas-based Tekkorp Capital and ASX-listed BetMakers Technology Group.
Although Betr is News Corpā€™s first foray into betting in Australia, Fox Corp boss Lachlan Murdoch launched US-based bookmaker Fox Bet when sports betting was first legalised in the US. The Murdochs also set up the failed wagering group SunBet in the UK under a joint venture with Tabcorp.
Trippā€™s former company BetEasy was placed on a 12-month good behaviour bond by the Victorian government in February after its gambling and casino control commission found it had breached the stateā€™s inducement legislation.

Now owned by Irish wagering behemoth Flutter, BetEasy was also ordered to pay Gamblerā€™s Help $5000 and pay the commissionā€™s $4400 costs after running an advertising campaign offering a free three-month subscription to a sports streaming service between July 2019 and October 2020. New customers did not have to place bets in order to receive the free subscription, but they could only access the free subscription by opening an account.

 
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In case you're wondering why Fox has been hammering Betr, the new gambling site, they are a significant share holder, but wait:
I saw that 100-1 on any runner offer... couldn't understand how they'd make it work?

Good to know it's a newscorp operation - even more reason to steer clear.
 
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ā€œGamble Responsiblyā€ has now been replaced with mandatory lines that must be rotated by all online gambling companies across all platforms.
  • "Chances are you're about to lose"
  • "Imagine what you could be buying instead"
  • "You win some. You lose more"
  • "What's gambling really costing you?"
  • "Think. Is this a bet you really want to placeā€
I think "gamble responsibility" had run its course. If any of the above help someone who needs to to take a second thought before clicking or pressing, then it's worth the change.
 
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