Sportsbet, Australia’s largest sports betting operator, has quietly halted its novelty betting markets, including odds on reality TV shows, celebrity events, and music competitions such as the Grammys and Triple J’s Hottest 100. The suspension, which has been in place since early August, comes as the company faces a government investigation in South Australia and growing regulatory scrutiny over sports betting advertising.
The decision to withdraw novelty betting has not been officially explained, with a company spokesperson stating: “Sportsbet is not currently offering any novelty markets at the discretion of our trading teams. These markets may become available soon.”
The move follows a rising tide of regulatory attention aimed at Australia’s sports betting industry. Sportsbet, which holds an estimated 45% share of the national online gambling market, is under investigation by the South Australian Attorney General’s Department. Details of the inquiry remain unclear, but a government spokesperson confirmed the matter is “under consideration.”
Although Sportsbet operates under a license issued by the Northern Territory, which regulates novelty betting markets, no breaches have been identified. “Sportsbet has not breached any NT-related novelty rules,” said a spokesperson for the NT Department of Industry, which oversees gambling operators. However, responsibility for further inquiries has been passed to South Australian authorities.
The suspension of novelty betting coincides with an increased regulatory focus on advertising practices within the gambling sector. Last year, Sportsbet faced backlash over a controversial TikTok campaign promoting bets on Rihanna’s Super Bowl halftime show, which sparked concerns about targeting younger audiences.
Meanwhile, sports betting companies are pushing back against impending federal government reforms that aim to limit advertising, particularly around televised sports and online platforms.
According to a 2018 report by the South Australian Department of Human Services, novelty betting is particularly popular among younger Australians. The report also highlighted that those engaging in novelty betting were more likely to fall into moderate-risk or problem gambling categories, a pattern also observed among users of electronic gaming machines.
Original article: https://www.yogonet.com/international/noticias/2024/10/16/82024-sportsbet-suspends-novelty-betting-amid-investigations-and-regulatory-scrutiny
