Australian Bookmakers Suffer Huge Losses

Sportingbet Australia suffered a $1 million loss last weekend after 20 of 22 weekend football favourites won. Other big sportsbooks had similar losses while Sportsbet sustained an even bigger loss.

“It was a complete blackout, the worst weekend in sports betting I can remember,” Sportingbet’s Bill Richmond stated.

AFL punters grabbed the biggest winnings with all eight favourites winning, while rugby union and rugby league punters also cleaned up with six out of seven weekend favourites winning.

Couple of betting industry sources estimated Australia’s sports betting industry suffered at least a $10 million loss.

Sportingbet To Sponsor World Series

Sportingbet will sponsor The World Series Of Snooker, which kicked off last weekend in Ireland, for the next three years.

Andrew McIver, Chief Executive Officer of the company, said: “We are proud to be associated with The World Series Of Snooker.”

Sportingbet has recently signed a sponsorship deal with English football club Wolverhampton Wanderers.

Offshore Operators Face UK Gambling Taxes

Foreign gambling companies advertising in UK might be taxed at the same level as local players. Several complaints from local operators were received and The Department for Culture, Media and Sport already announced that it will carry out an invistigation on how much foreign companies contribute including the Channel Islands based Sportingbet and Gibraltar based 888.

UK based sportsbooks contribute 10% of their gross profits and seek to impose new gambling taxes on offshore operators advertising within the country.