Headwinds persists for Australia’s biggest corporate bookmaker, with global powerhouse Flutter reporting that Sportsbet’s revenue declined $US22 million year-on-year through the first three months of 2024.
Australian wagering has been in a downtrend trend for well over 12 months, with Sportsbet’s revenue declining in comparison to the same period the previous year in each of the past five quarters.
In the annual earnings report released in March, it was revealed that Sportsbet’s overall revenue dropped by 7.1 per cent on 2022, and that trend continued in the first quarter of 2024, with a six per cent drop on the first quarter of last year.
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