Sportsbet spends extra $19m in marketing blitz ahead of expected gambling ad ban

Sportsbet spends extra $19m in marketing blitz ahead of expected gambling ad ban

Article brief provided by The Guardian
  • Henry Belot, The Guardian
August 11, 2023 3:37 PM
  • Henry Belot, The Guardian

Sportsbet has increased its marketing spend by millions of dollars in an advertising blitz ahead of an expected crackdown by the Australian government.

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The business spent an extra $19m on marketing in the first half of 2023 compared with the same period the year before, the financial results of Sportsbet’s Dublin-based parent company, Flutter, show.

Flutter said the “additional marketing spend of £10m” was necessary “to defend our leadership position” in Australia.

The Australian market is fiercely competitive, with a number of new entrants. The industry’s annual turnover is worth around $50bn.