Boom bust – wagering firm announces departure from online wagering space
Australian bookmaker BoomBet will close its online wagering outlet, advising customers to withdraw funds, review unsettled bets, and monitor final platform notices.
Corporate bookmaker BoomBet has announced it will shutter its Australian wagering operation.
The online platform has implemented a wind-down procedure of its service with an email to customers advising account holders that betting will end on January 21.
BoomBet has confirmed that all customer accounts will be closed after that date and has requested that they withdraw all available account balances within a specified timeframe.
Account holders have been advised to review any unsettled wagers and confirm how those bets will be settled under BoomBet’s terms and conditions.
BoomBet has also recommended that customers retain copies of transaction records and account history for reference.
Customers have been advised to monitor emails and platform notifications from BoomBet for final updates during the closure process.
BoomBet says any unsettled bets remaining at the time of closure will be managed in accordance with the bookmaker’s published wagering rules.
The announcement comes after Mark Bradshaw departed as BoomBet’s chief executive in August.
According to a LinkedIn profile, Bradshaw served as the boss of BoomBet from June 2021.
Bradshaw has since founded BetSource, a technology and marketing provider to the online wagering industry.
BoomBet’s operations trace back to Sportsbetting.com.au, which first entered the Australian wagering market in 1998.
The business adopted the BoomBet brand in 2021 and continued offering online fixed-odds betting services.
Licensed in the Northern Territory but with its office registered in Brighton, Victoria, BoomBet provided wagering on major sports and racing events in Australia and overseas.
It has mainly operated under the radar in a congested Australian wagering market.
However, in early 2025, the Northern Territory Racing and Wagering Commission (NTRWC) fined BoomBet almost $18,000 and ordered the bookmaker to repay a customer deposit of $1667.
BoomBet breached a condition of its sports bookmaker licence by not complying with aspects of the Northern Territory’s code of practice for online gambling firms.
It was found not to have had sufficient responsible gambling procedures in place between July 20, 2023 and September 1, 2023, during which time a complainant to the (NTRWC) lost more than $40,000.
The punter sought a refund from BoomBet, but the NTRWC determined that the bets were legal.
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