PointsBet rejects Betr takeover, raises concerns over VIP-heavy customer base
Australian sportsbook PointsBet has rejected a takeover offer from rival Betr, telling the Australian Stock Exchange (ASX) that more than half of Betr’s gambling profits in January came from just 20 customers.
According to The Guardian, PointsBet’s board had urged shareholders to back a competing bid from Japanese company Mixi, saying that Betr had a “less valuable and volatile VIP heavy customer base.”
PointsBet claimed that if the bid were accepted, this business model would pose “compliance and regulatory risks” for shareholders.
In April, Betr was reported to have about 340,000 customers, of which around 150,000 were active. Both companies declined to clarify whether the January figures were indicative of Betr’s longer-term operations.
PointsBet has faced regulatory issues of its own, including an AU$500,800 (US$330,000)1 AUD = 0.6595 USD
2025-07-24Powered by CMG CurrenShift fine from the Australian Communications and Media Authority in May for breaching spam and self-exclusion rules.
The concerns come amid renewed debate over gambling advertising. A 2023 inquiry led by the late Labor MP Peta Murphy recommended banning gambling advertising within three years. Annika Wells, Communications Minister, told parliament on Wednesday that consultations with broadcasters, sporting groups and harm-reduction advocates are ongoing, with a decision expected by year’s end.
While she did not commit to carrying out Murphy’s recommendation to phase out all igaming advertising, but said “the work continues” on advancing the government’s agenda to tackle gambling harms.
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