Against the odds: Betting stocks struggle despite Australia’s gambling obsession

We lose more on gambling, per head of population, than any other nation in the world.

Australia’s major wagering stocks are struggling on the ASX despite the beginning of peak punting season.Tribeca Investment Partners fund manager Jun Bei Lui is hopeful that the fortunes of the betting sector on the ASX may improve in coming weeks as spring betting season gets underway. Industry giant and stalwart Tabcorp, which had brief aspirations of cracking the UK and the US market in 2018, is in an entirely different positionThe company recently de-merged its highly profitable lotteries business into a new entity after knocking back a $3.5 billion takeover approach from Entain.

On Wednesday Tabcorp unveiled a long-awaited app for the green giant’s 783,000 active punters. The app has made it 9 seconds faster to place a bet, incorporated racing and sports vision to betting slips and other technology improvements. The group has also committed to integrating a same-race multi offering and social betting platform before Christmas, following in the footsteps of Sportsbet and Ladbrokes’s socially geared sites.

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Against the odds: Betting stocks struggle despite Australia’s gambling obsessionAustralians famously (or infamously) love to punt. We lose more on gambling, per head of population, than any other nation in the world. Yet despite our love affair with gambling, Australia’s betting industry is in a state of flux. | ameliamcguiree ameliamcguiree Australia’s love of the punt is pushed by the Government and is the biggest issue in the country. Way worse than drug addiction. A national disgrace. ameliamcguiree Teach these people how to grow their crypto assets. Tell them the market is really profitable as it goes up or comes down. There are good strategies which can get one profit on both ways. Reach out to Bamber__Michael if you wish to know more.
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