Sportsbet Spent $19M Extra on Marketing in 2023

Ben H 14 August 2023 Last Updated: 14/08/23

Sportsbet has increased its marketing spend by $19 million in the first half of 2023. The bookmaker said the additional money spent on marketing was to “defend” the sportsbook’s “leadership position in Australia.”

A spokesperson for the bookie said the increase in funds allocated to the marketing department was “seasonal” and depended on a wide range of activities, adding that Sportsbet’s marketing spend would, as always, support the racing and sports industries too.

Sportsbet Has the Expertise to Win the Market

Sportsbet’s increased investments in marketing were one of the reasons for the bookie’s 27% EBIDTA losses. Point-of-consumption tax changes cost the business an additional $64 million too.

However, Flutter Entertainment was happy with the results and said the betting operator had “a strong heritage in leveraging its scale” and “expertise to win the market.”

Flutter expected the bookie to continue to grow in Australia and singled out the success of Sportsbet’s same-game multi product, claiming it was one of the reasons for the “particularly strong” market growth. Sportsbet’s owner also mentioned the Bet with Mates social betting product and the stats and chat functionalities.

Opposing a Blanket Ad Ban

Sportsbet is upping its investments in marketing at a time when a parliamentary inquiry in Australia is calling for a complete ban on sports betting advertising in the country. However, Sportsbet doesn’t feel the proposed crackdown on wagering ads will better protect punters.

In June, Sportsbet’s CEO Barni Evans called the measures disproportionate and asked for an approach that would reduce the number of ads instead of banning them all. He said that was the only way to support media and sport while at the same time responding to “community concerns.”

Responsible Wagering Australia is looking for similar solutions. The lobbying group’s chief executive Kai Cantwell claimed “blanket bans” never gave the desired results even when they were introduced “in a phased rollout.” Cantwell called the proposed measures “shortsighted” and “ineffective.”

Related News

Horse Racing Tips

Keep up-to-date with all the best Horse Racing tips today.

AFL Betting Tips

Stay on top of your game this season by keeping up-to-date with our AFL betting tips.

NRL Betting Tips

Keep on top of your game this season by staying up-to-date with our NRL betting tips.

Racing Statistics

Want to know the odds of your horse winning? take a look at the horse racing statistics.

Ben H

Comments are closed.

Dabble Join Now Unibet Offer Neds Join Now

Think. Is this a bet you really want to place?

For free and confidential support call 1800 858 858 or visit gamblinghelponline.org.au

© Copyright KRUZEY PTY LTD