Betr was also rebuked by the NSW regulator on its second day of operations after it ran an aggressive marketing campaign about its odds offer in News Corp’s newspapers and is now the subject of an ongoing investigation into whether it has broken the state’s inducement laws.
One form guide analyst, who spoke on the condition of anonymity, said he expects Betr’s rapid growth to “backfire spectacularly”.
“Betr’s app so far has been a complete shambles,” the analyst said, adding it was a shame given the demand for competition in the market.
“There’s far too much onus on individual bettors to chase a bookie for their winnings and there are too many clunky apps with poor communication and service across the board.”
Others, including semi-professional punter Bryce Parker, came to the defence of the bookmaker. “I don’t get the amount of negativity thrown at Betr,” he said.
“In my opinion delayed payouts and poor customer service isn’t a bad price to pay with odds like that. They’re not forcing you to sign up. I’m not going to disparage the everyday punter getting the chance to win one grand off $10,” Parker continued, adding he thought Australia’s gambling scene had become too hard to please.
The owner of rival bookmakers Neds and Ladbrokes, Entain, said on Wednesday its yield from the Melbourne Cup had grown by 30 per cent this year, with bets on Gold Trip accounting for nearly 3 per cent of the hold. No other bookmakers disclosed their turnover to this masthead. Victoria Racing Club reported last year’s Melbourne Cup wagering yield was $372.8 million, up 1.9 per cent on 2020.
Entain chief executive Dean Shannon said it was easily the most bets the business has taken on a single race in its 10-year history and that NSW’s simultaneous race had boosted performance.
“The Big Dance has definitely added to the day. Betting on that race was 300 per cent up on a standard Sydney race on Cup Day last year, so it shows that these big events compliment each other,” Shannon said.
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