The Murdochs have been working on launching their very own bookmaker through News Corp Australia for a couple of years now. According to well-placed sources, they have finally decided on how they will enter the Australian betting market. What’s more, their bookmaker might take its first bet as early as this year.
The Sydney Morning Herald reports that the media moguls will partner with Australian gambling pioneer Matthew Tripp, and will use the knowledge and expertise of the former BetEasy and Sportsbet boss to take the Australian wagering scene by storm.
A Partnership with Matt Tripp and Tekkorp
Before deciding to join forces with Tripp, Rupert Murdoch and his son Lachlan were looking into several options for their Australian bookmaking business. Their strategy involved talking to the biggest names in the Australian betting industry and negotiating a favourable deal.
After over a year of searching and exploring their options, the Murdochs decided to go with a group of investors spearheaded by Matthew Tripp and Las Vegas investment fund Tekkorp. Sources say that News Corp Australia will enter into an equity partnership with Mr Tripp and the gambling investment fund.
It is still not known when the new bookmaker will launch or when the parties involved will put pen to paper. However, reports say that News Corp has told its sports editorial staff that the new betting operator might start advertising its products as early as May this year.
To Use Its Huge Media Reach
The Australian betting industry has consolidated in recent years, and bookies like Sportsbet and Entain-owned Ladbrokes have established themselves as market leaders.
However, News Corp Australia can change that. The company has massive media reach and its new bookmaking outfit can use that to its advantage. News Corp owns 60% of Foxtel, the TV company that broadcasts Australian cricket, as well as has the TV rights for the AFL and NRL.
Moreover, Tripp is a seasoned veteran in the online wagering industry and has single-handedly turned Sportsbet into the sports betting brand it now is, before launching BetEasy in 2014.
And it is a former BetEasy CEO who will be in charge of the News Corp bookie, according to the sources that spoke to The Sydney Morning Herald.
Andrew Menz was a BetEasy chief executive and later became a Sportsbet chief commercial officer when the parent companies of the two bookies merged.
When Menz left Sportsbet a year ago, rumours said that he did that to join Matthew Tripp in his new business venture. And the rumour mill seems to have been spot on about that one.
The BetMakers Connection
The Murdochs made their first foray into the online wagering business in 2019 when they launched FOX Bet. Reports said that the new Australian bookmaker will also launch under the FOX Bet brand, but it now seems that News Corp, Tripp, and Tekkorp will form a new brand.
Just like Tripp, Tekkorp has extensive experience in online gambling. The Las Vegas-based gambling investment fund is run by Matt Davey, an Australian entrepreneur that’s very close to Tripp.
Tekkorp has a 13% stake in BetMakers, a technology and platform provider to online betting operators.
Matt Tripp took a A$25 million stake in BetMakers last year, and soon after that rumours intensified that BetMakers and News Corp were planning to join forces and launch a new Australian bookmaker.
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