Sportsbet cuts 50 jobs as ‘challenging environment’ takes $150 million out of wagering’s top end

Australia’s largest corporate bookmaker Sportsbet is set to reduce its headcount by around 90, with 50 positions being made redundant and the rest to remain unfilled.

Sportsbet employs around 1200 people across Australia. It is believed the role reductions, which will impact 7.5 per cent of the workforce, will not just be confined to its Melbourne headquarters.

While 50 positions will be lost, a further 40 vacancies will remain unfilled as the Flutter-owned bookmaker looks to adapt to what it says is a “more competitive and challenging environment”.

“This week we began communicating a small number of proposed organisational changes as part of that process,” it said in a statement provided to The Straight.

“These changes are focused on simplifying how teams work together, improving accountability and ensuring our business is set up for the long term.

“The impact on headcount is limited and we are currently in a consultation phase with affected employees. Our priority is supporting our people through that process.”

Sportsbet’s job cuts come after similar moves from fellow major bookmakers Entain and Tabcorp.

Entain confirmed in November last year that it had cut 120 jobs, with a renewed focus on prioritising what it termed core business under new CEO Andrew Vouris.

Tabcorp, meanwhile, reduced its workforce by up to 200 in late 2024 as chief executive Gillon McLachlan sought to make the organisation “fitter”.

While those changes came under new management at both companies, Sportsbet has had a consistent leadership in place since Barni Evans was appointed chief executive in 2018.

An industry insider estimated that spending across the top end of the wagering industry has been reduced by around $150 million per year over the past 18 months.

Like the rest of the Australian industry, Sportsbet has faced headwinds as regulation and taxation increase in the Australian market.

The latest results via its global parent company Flutter released in February showed sportsbook revenue increased by one per cent year on year in the final quarter of 2025, but had declined six per cent overall throughout 2025.

The Australian business accounts for about 9 per cent of Flutter’s global revenue, or around $1.4 billion per year.

Flutter’s next quarterly financial results are set to be released on May 6.

The Australian industry also faces greater regulation in the advertising space, with a host of advertising restrictions and bans to be introduced from the start of 2027 around broadcast, digital, social and in-ground.

The federal government’s own figures indicate that this will impact around 0.8 per cent of revenue across the wagering industry.

Some analysts have suggested the changes will benefit the bigger players, who will reduce marketing spend and retain the advantage of scale with limited advertising options for others to expand.