The potential acquisition of PointsBet by BlueBet would create a fourth competitor at the top end of Australia’s wagering landscape. Bren O’Brien explores what that might mean, and the likelihood of BlueBet winning the support of PointsBet investors.
Since September 2020, three companies have been the dominant forces in the Australian wagering landscape.
The merger of Sportsbet and BetEasy at that time enshrined the former, owned by the world’s largest betting company Flutter, as the clear market leader. Within months it held a 50 per cent share.
Since then, the only other two companies with a greater than 10 per cent share have been Tabcorp and Entain. While a wagering boom and bust has occurred in those four-and-half years, perhaps surprisingly, things at the top have stayed the same.
Sportsbet holds around 45 per cent of the market, depending on what metric you use, while Tabcorp’s share of digital turnover was around 20 per cent at last count and Entain’s market share sits in the high teens.
There are a host of reasons behind this market share stasis.
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