Gambling businessman Matthew Tripp has confirmed that he plans to roll out his News Corp Australia-backed sports betting business – betr – before the Everest Carnival and the Caulfield Cup. The move is aimed at helping him attract young punters and mark rapid growth in a market that has been highly competitive.
Mr Tripp reiterated that he is willing to see his new business venture, betr, become the leading force in the local betting market and noted that he may seek partnerships with other media companies or entrepreneurs on his way to secure key sportsbook licences across Australia.
His sports betting business is currently in advanced negotiations with the WA TAB, as well as in early discussions with the Victorian Government regarding its betting licence. Mr Tripp has revealed that he aims to see the company grow through mergers and acquisitions, as well as organically through the partnerships it managed to forge with its partners, hoping that betr will quickly turn into a tier-one operator in the country.
So far, Mr Tripp basically built the BetEasy and Sportsbet brands in Australia, so he has the experience that would help him chase his goals with the new sportsbook business. As he previously revealed, his ambition to roll out another sports betting brand originated from the idea of boosting the assets of his media partner News Corp.
News Corp Seeks More Partners to Invest in Its Betr Sports Betting Business
In 2021, News Corp was investing in a bookmaking outfit, with Mr Trip chasing negotiations with other potential partners. For the time being, 33% in the venture is held by News Corp.
The chief executive officer of betr, Andrew Menz, shared that the model of finding potential partners worked extremely well so far with SkyBet in the UK, so if it was absolutely possible for that model to supercharge the growth of an existing company, it would also help a start-up when launched.
As reported a couple of months ago by The Australian, betr was negotiating with Seven West Media about signing on as an investor. Mr Tripp did not provide any details about the potential investment of Seven West Media in the business but, still, indicated that future partners may join the venture. At the time, he confirmed that the company was always ready to chase an expansion and if there was a merger and acquisition to occur, there might be other additions to the register.
Currently, betr has 60 staff members and has plans to expand to 120 employees, and it is trying to do so as quickly as possible, with the owner hoping to turn it into the most prominent brand in the country. Most recently, Mr Tripp purchased corporate bookmaker TexBet and made an offer to purchase PointsBet. The pair is making plans to invest tens of millions of dollars in advertising to audiences under 35 years of age.
- Author
Olivia Cole
