Learn
Newsletter
Offers
Podcast
About
  Back
~
1
min read
· Posted on
April 15, 2024

Betting underdogs, BlueBet and Betr go all in to take on the top dogs in the betting world

These two up and coming Australian betting companies will merge to compete with the big players in the betting space.

What's the key learning?

  • Ultimately, with so much competition in the betting space, this consolidation was needed in order to reach profitability.
  • For the merged company, it can lead do increased market share and potentially even synergies in expenses.
  • On top of the increased betting taxes, credit card deposits have been banned in the betting space.

👉 Background: BlueBet is an online betting platform that launched in 2015 and listed on the ASX in 2021, while Betr is the newer kid on the block - having only launched in October 2022.

👉 What happened: These two up and coming Australian betting companies will merge to compete with the big players in the betting space.

👉 What else: BlueBet has been looking for a way to get more customers, particularly those under the age of 35. And Betr has been looking for its own back-end system, propelling the two to merge and support each others needs.

What's the key learning?

💡Market consolidation is when companies within a specific industry merge with or acquire others, leading to a smaller number of companies in the market overall.

💡Many betting companies have been struggling as discretionary spending declines. Betting taxes have also increased in Queensland, and will soon be increasing in NSW and Victoria too. This has a significant impact on the profit margins of betting companies.

💡It’s becoming harder for challenger betting agencies to become profitable by themselves, thanks to tough competition, taxes, and regulation. Merging with competitors is becoming the best way to compete with the bigger players.

‍

Ready to win at money?

Sign up for Flux and join 100,000 members of the Flux family

Sign Up
A button to App StoreGoogle Play store button
Excellent  4.9 out of 5
Star rating
© 2024 Flux Technologies Pty Ltd and Flux Media Pty Ltd
All rights reserved.
Explore
HomeLearnPodcastAboutNewsletterFlux at Work
Offers
Home LoansSavings AccountsBank AccountsShare TradingCar LoansCredit Cards
Support
CareersContact usPrivacy PolicyTerms of Use
Disclaimer: Flux Technologies Pty Ltd (ABN 86 634 507 172) is an authorised representative (Representative No. 525288) of Mozo Pty Ltd who is the holder of AFSL No. 328141. We also provide general advice on credit products under our own Australian Credit Licence No. 530103. The product information presented does not constitute an offer and we are not recommending or suggesting any particular product. Any product advice presented is of a general nature only, and is not to be taken as any sort of advice as it has not taken into account your personal circumstances, objectives, financial situation or needs. Flux may not cover all products available to you. Check out our Credit Guide and Financial Services Guide for more information.

All information contained in the Flux app, www.flux.finance, www.joinflux.com, app.flux.finance and any podcast of Flux Media Pty Ltd (ABN 27 639 804 345) is for education and entertainment purposes only. It is not intended as a substitute for professional financial, legal or tax advice. Flux Media Pty Ltd is the owner of the registered trade mark, 'What the Flux'. While we do our best to provide accurate information on the podcast, we accept no responsibility for any inaccuracies that may be communicated.