Betfred Closes Australian Operation

Market overpopulated, spend better utilised elsewhere

Betfred's Australian online customers were met with a landing page message at Betfred.com.au today announcing the operation's closure after just six months of business.

The message reads: "We are sorry to announce that from Monday 1st December 2014 our Australian operation will cease trading. All monies will be returned to the card registered to your account.

"Betfred Australia would like to thank you for your custom and apologise for any inconvenience caused. If you have any further questions please email our customer services at support@betfred.com".

The Australian business was licensed by the Northern Territory Gaming Commission and headed up by former CentreBet exec Luke Brill.

A Betfred statement said the company had decided that current marketing and ongoing infrastructure costs will be better spent elsewhere than in the overpopulated Australian market.

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