UK bookmaker Betfred has decided to pull out of Australia despite only operating in the country for six months.
Betfred Australia started operating in May 2014 and entered the market with a GTECH powered mobile sports betting product. The company said it would focus on mobile sports betting in what is seen as an already saturated Australian market.
But the company saw competition from other UK bookmakers such as William Hill, Paddy Power and Ladbrokes.
“Following a review of the business it was felt that the market had become overpopulated, we have therefore decided that our marketing spend and ongoing infrastructure costs are best spent elsewhere,” John Haddock, Chief Executive of Betfred told eGR.
