A possible new player on the Aussie betting market

a-possible-new-player-on-the-aussie-betting-market

Is a new player entering the Australian betting market? The main piece of legislation in Australia concerning the gambling industry in the country prohibits iGaming companies and businesses from offering a variety of gambling activities to Aussie customers.

According to the rules and regulations of the Interactive Gambling Act that has been in force since 2001, only lotteries, racing, and sports betting gambling activities are legal. This means that iGaming services and products cannot be offered to Aussie players by Australia-based companies.

There are no laws currently in place that prohibit engaging in retail and online sports betting activities. Essentially, Australia-based companies can offer online sports betting activities to residents of Australia. Today, the online betting Australia scene is quite profitable and lucrative so there is no wonder why several new players have made the very first steps to enter this lucrative scene. Some of the best betting sites in Australia are owned and operated by international companies while there are also local Australian betting sites owned and operated by companies registered in Australia.

News Corp Australia Planning to Launch a New Wagering Brand

Aussie sports betting fans and enthusiasts have an excellent selection of sports betting sites to choose from with the best of them offering highly competitive betting odds, an excellent selection of betting odds, and others perks and benefits. If you are interested in exploring the Australian online sports betting industry, you can learn more about the local gambling environment and the best betting sites currently available in Australia from this comprehensive guide. Now, let’s see which renowned sports betting brand may be entering the Australian betting market.

With over eight thousand employees including three thousand journalists, News Corp Australia is one of the biggest mass media companies in Australia. Formerly known as News Limited, News Corp Australia was founded almost one hundred years ago in 1923. At the time of its establishment, the company was based in Adelaide, while today its main office is located in Sydney.

News Corp Australia’s major interests and services include subscription television, film, and DVD distribution, magazine, and newspaper publishing. Today, the company owns over one hundred and forty daily and weekly newspapers and over one hundred of them are local suburban publications. News Corp Australia is also one of the major newspaper distributors in the country with a metropolitan newspaper in all of the Australian urban areas including Adelaide, Brisbane, Darwin, Melbourne, and Sydney.

The company is also heavily involved in the digital media industry with several highly popular online businesses including:

  • News.com.au
  • Taste.com.au
  • Homelife.com.au
  • Kidspot.com.au.

News Corp Australia also held a stake of 55% in another site carsguide.com.au. It also has a major stake in REA Group. Other Australian assets owned by News Corp Australia include Australian News Channel and Foxtel. The company also has shares in one of the most successful National Rugby League teams Brisbane Broncos.

As revealed recently, the company may be entering the thriving Australian betting industry. More specifically, the company has already entered talks with Matthew Tripp and a consortium led by Mr. Tripp. Matthew Tripp is a high-profile businessman and bookmaker who used to be the CEO of CrownBet Pty Limited and BetEasy. From 2011 and 2013, Matthew Tripp was a Chairman at Sportsbet while from 2013 and 2014 he was a director at WG Technologies. Since May of 2021, Matthew Tripp works at Melbourne Strom as an Executive Chairman.

With such extensive experience in the industry, he doubtlessly knows what are the industry’s biggest demands and most profitable trends. These days, News Corp Australia and Matthew Tripp’s consortium are discussing the opportunities to launch a completely sports betting brand that would bring many positive changes to the local industry. Several reputable sources have spoken about this anonymously considering everything that has been happening behind closed doors is highly confidential.

Confidential Business Talks with Fox Corp

Nonetheless, it was revealed by inside sources that News Corp Australis has been discussing business opportunities with Fox Corp and both News Corp and Fox Corp are operated by the Murdoch family. Founded by Rupert Murdoch in 2019 in New York City, Fox Corporation is a growing mass media company with over nine thousand employees. The corporation has several divisions including Fox Sports Media Group, Fox News Media, Fox Television Stations, and Fox Entertainment.

Back to News Corp Australia and its confidential talks with Fox Corp. According to reputable industry sources, News Corp Australia is looking forward to securing rights to use the renowned Fox Bet branding for its new sports betting outlet. This does not come as a surprise considering Fox Corporation was very invested in introducing its Fox Bet product to Australians.

What seems highly likely to happen is the Fox Bet brand entering the Australian betting industry with News Corp Australia as one of the major players. Essentially, News Corp Australia will be the brand’s most crucial local partner and this is expected considering both companies are operated by the Murdoch family.

Last year, News Corp Australia explored the local industry by looking into different well-established betting operators in order to find the most suitable partner to assist with launching Fox Bet. However, it seems the company has shifted towards launching an independent wagering outfit rather than partnering with a local company. At the same time, News Corp Australia is very interested in working with the founder of BetEasy and the former Sportsbet CEO Mr. Tripp.

Battle for TAB, the Biggest Bookmaker in Australia

News Corp Australia and its business talks with Matthew Tripp and the consortium could also affect the battle for TAB by Tabcorp which is the biggest bookmaker in the country. It was revealed that Mr. Tripp has already placed a US$4 billion bid by the BetMakers wagering technology company for Tabcorp’s TAB wagering business. BetMakers is not involved with the group interested in launching Fox Bet. However, BetMakers would offer its back-end systems required by News Corp Australia to finally start wagering operations in the country, potentially entering the cryptocurrency betting market as well.

In the case of the bid passing successfully, Mr. Tripp’s involvement in the consortium and News Corp Australia could easily result in the biggest Australian bookmaker operating two major brands and one of them being Fox Bet. It is obvious that the founder of BetEasy Mr. Tripp wants to revive old TAB by establishing a second, more modern wagering brand that would target younger Aussie customers. Considering what Matthew Tripp has done for Sportsbet and several other brands, his ambitious business dreams can come true.

Following the involvement of Mr. Tripp in Sportsbet, it became the second biggest bookmaker in Australia closely following TAB. After investing a lot of money in BetMakers at the beginning of this year, Matthew Tripp is heavily focused on searching for major business deals that will help the struggling brand.

Even if nothing happens with Tapcorp’s brand, the establishment of Fox Bet in Australia will doubtlessly enrich the Australian betting industry. Since News Corp Australia has already a presence in the industry through its Foxtel, Racenet, and Punters.com services, the launch of a wagering company alongside one of the biggest experts in the field would most certainly solidify its position and presence on the Australian wagering and gaming scene.

Micky is a news site and does not provide trading, investing, or other financial advice. By using this website, you affirm that you have read and agree to abide by our Terms and Conditions.
Micky readers - you can get a 10% discount on trading fees on FTX and Binance when you sign up using the links above.