Sportsbet Suspends Novelty Betting Amid South Australian Investigation
Australia’s largest sports betting company, Sportsbet, has halted offering odds on novelty events like reality TV shows and award ceremonies. This decision coincides with a government investigation in South Australia and potential upcoming restrictions on gambling advertising.
Cessation of Novelty Markets
Sportsbet has stopped all novelty betting markets for at least three weeks, as monitored by the Guardian. Social media users have noted the absence of these markets since early August. Previously, the company offered odds on events such as the Grammys, the Oscars, Australian Survivor, WWE matches, and the Triple J Hottest 100 music poll.
When asked about the suspension, a Sportsbet spokesperson declined to provide specific reasons. “Sportsbet is not currently offering any novelty markets at the discretion of our trading teams. These markets may become available soon,” the spokesperson said. The last update in the company’s novelty blog section was in March this year.
Licensed by the Northern Territory government, Sportsbet operates under guidelines that dictate how novelty markets should be conducted. These rules state that events not overseen by an official body must be settled within 12 months of being offered. The NT Department of Industry indicated that Sportsbet has not breached any guidelines but referred further inquiries to South Australian authorities.
South Australian Government Investigation
The South Australian Attorney General’s Department confirmed it is investigating Sportsbet but did not disclose details. “Matters involving this business are currently under consideration, and we are unable to comment at this stage,” a department spokesperson stated.
Sports betting companies, including Sportsbet, are currently opposing advertising reforms proposed by the federal government, which aim to restrict where and when gambling ads can be displayed. Last year, Sportsbet conducted a controversial trial using TikTok to promote bets on Rihanna’s Super Bowl halftime performance, drawing criticism and regulatory attention.
A 2018 report by the South Australian Department of Human Services found that novelty betting is more prevalent among younger demographics. The study also revealed that individuals engaging in novelty betting or using electronic gaming machines are more likely to be moderate-risk or problem gamblers compared to those involved in other forms of betting.
