Home Blog Australian sportsbook operator Sportsbet reports growth in Q1 2022

Australian sportsbook operator Sportsbet reports growth in Q1 2022

Last update: May, 2024

Written by: Lisa Cheban Content writer
Australian sportsbook operator Sportsbet reports growth in Q1 2022

The first quarter of 2022 was a good one for casino online Australia. Sportbetting market leader Sportsbet had an 8% increase in revenues in the first three months of 2022. Flutter Entertainment, the parent company of Sportsbet, released information about the average monthly users of the Sportsbetting operator. The average amount of monthly users increased by 10%. 915,000 users visit the website on a monthly basis.

The company reported US$368 in revenues in the firs three months of this year. Sportsbet is thriving since it merged with Australian online casino BetEasy. The two separate operators were merged into one due to the merger of their parent companies. At the time of the merger their combined market share was 26%. Since 2020 this market share grew to a stunning 50%. Whichs makes it overtaking Tabcorp, the former market leader on the Australian betting market.

The reason for this major growth are the “Structural improvements in margin driven by our in-house pricing capabilities and product mix funded an increase in promotional spend ” Due to this extra budget they could focus more on player retention and customer engagement. Also, the Australian online casino customer base increased in the last two to three years. The increase is due to the strict COVID-regulations. These regulations made that land based casino´s had to close their doors for a longer period of time.

Just like in the United Kingdom, Horse racing bets are extremely popular. Much more popular than in the rest of the world. Next to betting on horses and Australian Football League, Roulette and blackjack are really popular in Australia. However, playing pokies are the most popular casino game they Aussies love to play. You can find a pokie in almost every street since there are almost 200,000 pokies in Australia.

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