Tripp’s bookie will be targeting rapid growth thanks to a tried-and-true model of partnering a media company with a wagering one, and those under the age of 35 are a target demographic.
Upcoming Bookie “Betr” than Rivals
Multiple local news outlets, including The Sydney Morning Herald, reported on Matthew Tripp’s new bookmaker – betr – launching Wednesday in Australia. The launch time is just days ahead of the upcoming Caulfield Cup and The Everest turf race during the weekend.
Betr will be backed by Rupert Murdoch’s News Corp Australia, the ASX-listed BetMakers Technology Group and the Las Vegas-based Tekkorp Capital, and Tripp is aspiring for it to become “the most prominent brand in the country”, as he was cited saying in his first interview about the upcoming bookie.
According to Tripp himself, the launch timing is “symbolic”, as he was cited saying recently, as The Everest is attracting a younger crowd of punters, which is a very important demographic to get a hold of, especially from the get-go. Tripp’s notion is that the WA TAB is “a must”, and the company isn’t entering the market “to play second fiddle to anyone”, further cementing his plans for serious future expansion.
Betr’s chief executive Andrew Menz also spoke confidently when commenting on the company’s goal for the future, targeting rapid growth. He also revealed that a special promotion will be available as part of the launch, with “$101 about every runner” in the Melbourne Cup until Victoria Derby Day on October 29, with a $10 cap per bet.
Competitive Australian Market
“The genesis of the idea is the wagering company, media organization partnership”, Menz told Nine newspapers, while commenting on how the idea was developed in the first place. Tripp had built other brands in Australia, such as BetEasy and Sportsbet, which also had News Corp involved.
This makes betr a natural extension of the well-established and efficient model of pairing a betting company with a media organization. The goal is to focus on advertising to players under the age of 35, which is underserved according to Menz, and strive for quick scaling and rapid growth, thanks to marketing and advertisement.
Tripp’s upcoming bookmaker will be using BetMakers Technology Group’s platform and reports suggest it currently has more than 50 employees, and the plan is to employ at least double that as soon as possible. While the SMH report states that the name was selected to have a broader reach, it’s rather unfortunate that it coincides with Jake Paul’s micro-betting company name, also branded Betr, with a capital letter in the name.
It seems Australia’s $6.4 billion wagering market is booming at the moment, and competition is flourishing. Just last week we saw Entain going into deal with the New South Wales Australian Hotels Association (NSW AHA) for advertising across NSW’s hotels and pubs – a previously exclusive Tabcorp domain, and it’s using a technologically modern approach to increase its competitiveness.