Less revenues for Australian online casino Sportsbet in Q3

Article by Lisa Cheban
Last Updated: Feb 19th, 2024 Share On Your Network:

Lisa Cheban | 19 July, 2022 12:19 | Last update on: 19 Juli, 2022 12:19

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Online casinos in Australia, such as Sportsbet, report less revenues in Q3 of 2022. After the corona lockdown ended in Australia, a lot of punters return to the landbased betting offices to place their bets on horse racings, sportsbetting or other betting related sports matches.

The corona lockdown had a great impact on the online and offline gambling landscape in Australia. Betting offices were closed and placing bets in an online betting office was the only way for Australians to place their bets on Rugby, Horseracing or other sports.

According to Flutter Entertainment, the parent company of Sportsbet, the revenues fell with 14% compared to Q3 in 2021. This 14% decline still results in a revenue of 319 million pounds. This 14% decline was realized even though the company increased its monthly players by 1%.

The end of the lockdown resulted in lower levels of player engagement compared to the lockdown. Apparently, more people started to gamble when they had to stay indoors. However, the decline in revenues is not all about the lockdown. Flutter Entertainment said that high levels of weather-related racing disruption also caused a blow to the company´s revenues in the third quarter of this year.

Most likely the revenues that online casinos and bookmakers around the world could make thanks to the corona lockdowns, will not comeback any time soon. Which forms a great challenge for online casinos to keep players playing at their website and to retain these customers and prevent them from visiting land based betting offices.

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