Competition in Australia’s online sports betting market is set to receive a boost as bet365 signals its intention to apply for a license to operate in the country. According to an eGaming Review interview with founder and joint chief executive Denise Coates, the company is “in the process” of applying for a license in the country’s Northern Territory.
“I can confirm that we are in the process of applying for a license in the Northern Territory of Australia.
“Once we have submitted the application and the regulatory authorities have had the chance to consider it, we will hopefully be in a position to comment further.”
If the license gains regulatory approval from the appropriate body, bet365 could be offering services by early November. The move represents the first time they’ve applied for a license outside of the UK. The Stoke-based private company will set up an office in Darwin employing around 100 staff. It will be similar to the office they have in Gibraltar where their casino, poker and bingo operations are licensed.
Bet365 are by no means the first to like the betting activity amongst the kangaroos and with double-digit annual revenue growth since the lifting of advertising restrictions, it’s no wonder. Paddy Power already has 20% of the market after their acquisition of Sportsbet but today’s interim statement suggests that revenue in the country is in fact slowing. Betfair has a strong presence after becoming licensed in Tasmania and Sportingbet is looking at purchasing Centrebet to announce their arrival on the scene.
As a private company, bet365 is as well placed as all of these firms that already have a share in the market and their good reputation will count towards their success.
