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.”
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