Sportsbet, is an

online gambling Online gambling is any kind of gambling conducted on the internet. This includes virtual poker, casinos and sports betting. The first online gambling venue opened to the general public was ticketing for the Liechtenstein International Lottery in ...

company owned by

Flutter Entertainment Flutter Entertainment plc (formerly Paddy Power Betfair plc) is an Irish gambling holding company created by the merger of Paddy Power and Betfair, and the later acquisition of The Stars Group. It is listed on the London Stock Exchange, and is a ...

, primarily targeting the Australian market. Sportsbet is licensed as a corporate

bookmaker A bookmaker, bookie, or turf accountant is an organization or a person that accepts and pays off bets on sporting and other events at agreed-upon odds. History The first bookmaker, Ogden, stood at Newmarket in 1795. Range of events Bookma ...

in the Northern Territory under the ''Racing and Betting Act 1993'' (NT). Sportsbet offers betting services online through its website and its mobile app (on IOS and Android) as well as by telephone and has more than 1.25 million Australian customers as at the end of 2019. Sportsbet is headquartered in

Melbourne Melbourne ( ; Boonwurrung/Woiwurrung: ''Narrm'' or ''Naarm'') is the capital and most populous city of the Australian state of Victoria, and the second-most populous city in both Australia and Oceania. Its name generally refers to a met ...

and operates within the strict 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 Paddy Power is an Irish gambling company founded in 1988. Its product offering includes sports betting, online casino, online poker, and online bingo. The business is split into two divisions, UK Ireland (UKI) and International. UKI operations ...

in December 2010, and since 2 February 2016, it has been owned by

History

The business name Sportsbet Australia was first registered in 1994, with domain name registered in 1999. In May 2009, 51% was acquired by

, who continued brand name and company operation as a separate entity, while offering additional services. The takeover allowed to acquire rival betting company International All Sports Limited, for 27.2 million euros. In March 2011, Paddy Power took full ownership of Sportsbet. Paddy Power and British rival

Betfair Betfair is a British Gambling, gambling company which operates the world's largest online betting exchange. Its product offering also includes sports betting, online casino, online poker, and online bingo. Founded in 2000, the business is split ...

agreed terms for a merger on 8 September 2015. The business is owned 52% by the former Paddy Power shareholders and 48% by the former Betfair shareholders. The merger was completed on 2 February 2016. On 5 April 2016, it was announced that 650 jobs in United Kingdom and Ireland would be lost at the company. On 6 March 2019, Paddy Power Bet Fair announced that it would rebrand as

, 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 2019, would not affect the company's individual customer facing gaming brands. In May 2020, the global merger between Flutter Entertainment and

The Stars Group The Stars Group Inc. (formerly known as Amaya Inc., Amaya Gaming Group Inc. and Rational Group) was a Canadian gaming and online gambling company headquartered in Toronto, Ontario, Canada. Its shares were traded on Nasdaq and the Toronto Stock E ...

was finalized following regulatory and shareholder approvals. Sportsbet and

BetEasy BetEasy (formerly known as CrownBet and BetEzy) was an Australian corporate bookmaker offering online sports and racing betting platforms. BetEasy is licensed in the Northern Territory and owned by The Stars Group. BetEasy was the official wage ...

formed the Australian component of the merger. Incumbent CEO of Sportsbet Barni Evans was appointed to lead the combined Sportsbet and

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 2021, Sportsbet lost more than $50 million due the oddsmakers mistake.

References

{{reflist Online gambling companies of Australia Companies based in Melbourne Australian companies established in 1993 Gambling companies established in 1993 2010 mergers and acquisitions Companies based in Darwin, Northern Territory