The fine comes from an advertising campaign by the gambling company that ran across tabloids in Australia. In the ads, the company offered odds of up to 100-1 for any bets up to AU$10 for horses taking part in the 2022 Melbourne Cup.
Betr has agreed to pay the sum but has argued throughout proceedings that it hasn’t broken any rules.
A spokesperson for Betr said of the punitive action taken by the regulator against it: “We offered and advertised the 100-1 Melbourne Cup market in accordance with the law and entirely consistent with the guidance published by Liquor & Gaming NSW, which clearly indicated this conduct was legal.”
“Whilst we co-operated fully with Liquor & Gaming, we do not accept and have made no admissions to breaching NSW law (New South Wales).”
The law in NSW states that print advertising, which includes the incentive to open betting accounts, is prohibited.
Australia has become a beacon for gambling scandals in the past year, with The Star Resort recently admitting to breaking industry regulations by allowing the purchase of gambling chips with a credit card.
The casino operator that runs the Star Gold Coast and the Treasury Casino entered a guilty plea to seven charges brought against it under the Casino Control Act of 1982.
According to Attorney General Shannon Fentiman, the charges were in relation to Section 66 of the Act, which prohibits using a credit card to buy casino chips.
“The Queensland Government is committed to ensuring Queensland casinos are operated lawfully, ethically and in a way that maintains the highest standards of integrity and public confidence.”