Betr’s southern flight – Bookie sets up under Tasmanian licence
Betr has become the first bookmaker to exit the Northern Territory licensing regime, immediately transferring its wagering licence to Tasmania in a development that will be keenly watched across the gambling industry.
Bookmaker betr has made a bold, strategic move, exiting its Northern Territory wagering licence and relocating to Tasmania under a newly issued permit from the Tasmanian Liquor and Gaming Commission.
The publicly listed corporate bookmaker will begin operations under its Tasmanian licence as of Tuesday, in a five-year agreement with the government.
The move was announced to the ASX after the market closed on Monday.
While the announcement was sudden, The Straight understands that there have been ongoing negotiations between betr and the Tasmanian government for more than a year.
The company, which is chaired by wagering trailblazer Matthew Tripp and led by chief executive officer Andrew Menz, indicated that it no longer wanted to remain in the Northern Territory, where the vast majority of its competitors, including market leader Sportsbet, are licensed.
“The transition follows a multi-year evaluation of Australian regulatory frameworks and supports the Company’s objective of operating from a jurisdiction that aligns with its long-term strategic, governance and responsible wagering priorities,” it said in a statement.
The move towards the transition included a lengthy assessment of betr’s suitability by the Tasmanian Liquor and Gaming Commission. That process eventually saw it awarded one of the three licences available in the state.
“We look forward to establishing our long-term presence in Tasmania, contributing to local employment and investment and working closely with all stakeholders to deliver a safe, responsible and sustainable wagering environment for our customers,” Menz said.
“We are grateful for the constructive engagement and professionalism of both the Tasmanian Liquor and Gaming Commission and the Northern Territory Racing and Wagering Commission throughout this process.”
There will be no requirements for betr customers to take any action, with bets placed before July 7, 2026 settled under the company’s existing Northern Territory licence, while from July 7, all wagering and account activity will operate under the Tasmanian Gaming Licence.
The move is the latest strategic shift for betr, which merged with BlueBet two years ago and then acquired TopSport in early 2025 as it looked to build scale and target 10 per cent of market share.
It was then involved in a prolonged takeover battle for PointsBet, which ended with it having a minority shareholding, while Japanese-owned MIXI took 67 per cent. It remains a 27.7 per cent shareholder in its rival.
As of Monday’s close, betr’s share price stood at 18 cents, giving it a market capitalisation of $194 million.
Its move to Tasmania will be keenly watched by an industry that has become uneasy with how wagering licensing is administered in the Northern Territory.
While former PointsBet chief executive Sam Swanell claimed last November that the Northern Territory Wagering Commission was “one of the best in the world”, others have privately expressed misgivings.
A Four Corners episode screened last year suggested the NTWC had become overwhelmed by the companies it was supposed to regulate, while The Straight has been told that the functionality of the Commission is also a point of concern for those within the betting industry, who fear that the growth of smaller bookmakers was putting a strain on the system.
There are 51 bookmakers regulated in the Northern Territory.
Tasmania was previously the home of betting exchange Betfair from 2005 until 2016.
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