The 101-1 promotion that almost sent Betr bankrupt
Australians are the biggest gamblers in the world. Lots of us love a punt - whether it’s at the casino, the horse races or betting on sport. As a result, we hold the mantle for the highest per capita losses of any country. Between 2018 and 2019, Australians lost approximately $25 billion dollars on gambling.
Just over a month ago, a new betting platform called Betr entered the fray and drew the attention of hundreds of thousands of Australians… boasting an astonishing promotional offer of 100 to 1 odds on major sporting events. But this bold marketing tactic almost backfired. Had a different horse won the Melbourne Cup on Tuesday, Betr’s great debut might have seen it scratched.
Today Sascha and Darcy ask the question - what’s the business rationale behind such extreme odds?
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