Tabcorp has unveiled plans to introduce live, in-play betting through its app in pubs and clubs in New South Wales. This move, sanctioned by state authorities, will allow Australians to place live sports bets digitally within licensed venues by using their phones on physical terminals.
The initiative, led by CEO Gillon McLachlan, is set to kick off in two pubs initially, with a planned expansion to 20 venues to assess the feasibility of a nationwide rollout. McLachlan expressed confidence in this new approach, highlighting the enthusiasm from Tabcorp’s extensive network of retail partners across multiple states.
In Australia, in-play betting, which involves placing bets after a game has started, has been traditionally restricted to phone calls or face-to-face interactions due to concerns about gambling-related harm. Only a small portion of Tabcorp’s turnover has historically come from in-play betting, a stark contrast to the US where it accounts for a significant share.
By enabling live betting through the app in licensed venues, McLachlan aims to streamline the process and modernize Tabcorp’s retail model. This shift is seen as a strategic move to evolve in a regulated environment and reshape the perception of retail operations within the wagering industry.
While introducing live betting, Tabcorp also announced further job cuts, with 50 positions being axed, bringing the total redundancies under McLachlan’s leadership to approximately 300. Despite this, the market responded positively to the in-play betting initiative, with Tabcorp shares surging nearly 10% following the announcement.
The timing of Tabcorp’s live betting trial coincides with heightened scrutiny on gambling practices and regulatory compliance. This includes a class action lawsuit against rival Sportsbet over alleged illegal in-play betting services, adding to the ongoing discussions around responsible gambling and consumer protection.
McLachlan’s push for live betting comes amidst evolving government policies on gambling advertising, with proposals for stricter regulations and bans on certain types of promotions during live sports broadcasts. While federal reforms have been delayed, some states have taken independent steps to restrict gambling-related advertising, reflecting a shifting landscape in the industry.
Tabcorp’s foray into in-venue live betting positions the company at the center of Australia’s evolving gambling policy discourse. McLachlan’s strategic vision to revitalize Tabcorp’s operations by adapting to changing economic structures faces a complex landscape shaped by regulatory dynamics, public sentiment, and political influences.
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