Beteasy new contender in Aussie market

Former Sportsbet owner, Matthew Tripp, will launch online and mobile betting firm BetEasy into the Australian market Tuesday backed by a “big spending” marketing campaign that coincides with the popular Spring Carnival racing season.

Tripp told the Financial Review that his new venture will forgo some profits in order to increase turnover and will not downsize or refuse bets from punters as is the practice with other bookmakers.

“There’s hard work ahead but we think we can get there pretty quickly without a lot of pain. I’ve always been willing to forgo margin in favour of turnover and be able to find a way to ensure customers get serviced and the doors stay open, while generating enough margin to satisfy my shareholders. I think we are in a position where we can do things a bit differently and separate ourselves from the pack.”

Tripp, who was put on gardening leave following the A$338 million Paddy Power takeover of Sportsbet, bought the assets of the old Betezy company backed by Sportsbets’ original investors and members of the company’s 2005 founding management team (see previous reports).

BetEzy’s assets have been reorganised, refreshed and rebranded as BetEasy, the organisation employs several of Tripp’s former Sportsbet executive team along with a staff complement of around 120.

Along with the extensive marketing campaign, BetEasy will offer large customer incentives which can include money-back offers and/or special betting packages not tried in the Australian market before in order to win market share, Tripp revealed.  “While on the face of it they will appear to be extremely generous, in order to get scale and a presence we need to be different to the homogenous offerings that are out there at the moment,” he said.

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