Sportsbet Values
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According to the Australian Government, Aussies dropped $209 billion on the punt during the 2016/2017 year, averaging almost $11,000 per person. Of that, a staggering $4.37 billion was lost on racing and sports betting alone, with a myriad of betting companies evidently frolicking in the pits of cash to be made. Front and centre in Australia is the giant Sportsbet.com.au, purveyor of endless bonus bets, sketchy multi deals and ripper Facebook chat. We took a look at their rise from dingy back-office bookies to a company that has over 688,000 members and makes 1.1 billion price changes per year.
Sportsbet values its supplier relationships and understands they play an integral part in supporting us to deliver our main strategic business objective of adding excitement to life. Sportsbet.io is actually one of the more well-known platforms in the cryptocurrency sportsbook platform. The company first began operations in 2016 under the Curacao license. They follow three tenets of sportsbook platforms: Fun, Fair, and Fast. This goes to show that Sportsbet.io values. YouTube is a huge deal. Consumers love it, kids love watching random toy unboxings in it, brands love the reach it gives. But it’s also full of crap, ranging from the wasted ad spend on.
Believe it or not, locking in the winner of an amateur Ugandan badminton semi-final as the last leg of your multi wasn’t always easy. Back in 2005, when Matthew Tripp picked up Sportsbet for a sum of $250,000, things were done a little differently. The nation’s beloved agency was then operating out of Darwin and on the verge of bankruptcy. The eight-strong team, made up of an IT technician and a few phone operators, has grown exponentially with the company’s success – reaching 250 staff in 2011 and on to over 700 based in Australia today.
Sportsbet, with Tripp at its helm, is largely credited for making gambling mainstream in Australia. The key to its rapid growth was the introduction of technology to simply make betting that much easier. At a time when face-to-face bookmaking was tapering off, Tripp was an early adopter of the massive movement towards app-based and online betting.
For example, in the 10 years between 2001 and 2011, the amount wagered on horse racing via phone and internet increased 600% from $625 million to $3.71 billion, while face-to-face bookmakers’ turnover halved from $1.2 billion to $610 million, according to The Australian.
Technology also allowed Sportsbet to rapidly expand the number of betting markets it offered, as algorithms and analysts took over from pen and paper. The options are seemingly endless, with over 250 betting options on a single game of AFL not being uncommon.
In 2017, Sportsbet’s Chief Commercial Officer claimed their underlying infrastructure was capable of handling up to 400 bets per second, although Melbourne Cup day the following year saw the platform mauled to such an extent that Sportsbet spent most of the event in the stables.
In an interview with The Australian, Tripp said “You name it, we’ll bet on it. If we get a request to make a market on something, as long as it’s regulated and legitimate we’ll attempt to do so.” As most know, this isn’t an exaggeration – punts are possible on thousands of sporting and racing outcomes, as well as novelties like winners of reality TV shows and who’ll sit on the Iron Throne at the end of Game of Thrones Season 8.
Arguably, the pinnacle of Sportsbet’s coverage of markets came in 2015 when they offered odds on how the world will end, with an ice age a ‘hot’ favourite at $11 and a global drought running a close second at $16.
Tripp quotes differentiation as another key to the company’s success. He is widely acknowledged as being the pioneer of catchy schemes like money-back specials and ‘justice refunds’, where losers are refunded their bets in the event of ridiculously unlucky circumstances. Their latest act of goodwill came this Monday when they refunded all bets placed on the Aussies to win the third Ashes Test, after God himself possessed Ben Stokes to knock 135 runs (76 with one wicket in hand).
Aggressive marketing played an enormous role in Sportsbet’s success, especially considering how crowded the online bookie space is. After his acquisition of the company, Tripp was able to secure exclusive advertising deals with Seven and Ten networks during sporting events when sports betting was beginning to penetrate the mainstream market. A pivotal High Court ruling in 2008 allowed the firm and others based in the Northern Territory unbridled permission to advertise in the more populous eastern states, thus allowing their marketing divisions to run rampant.
Since then, things have seemingly spiralled out of control, as the ABC found that between January 2013 and June 2018 Sportsbet paid more than 1,500 entities a combined sum of $490.5 million in marketing and promotional endeavours.
In May 2009, just four years after he snapped it up for $250,000, Tripp offloaded a 51% share in the company to Irish bookmaker Paddy Power for an estimated $200 million. Two years following that, Paddy Power acquired a further 39.2% share for $132.6 million, effectively placing Sportsbet at a value of $338 million.
Today, Sportsbet is powering along. In its 2018 Annual Report, the company reported an underlying operating profit of roughly $215 million and revenue of roughly $740 million. However, it hasn’t all been smooth sailing, as the company has since footed a $40 million bill in the form of newly-introduced point of consumption taxes across most states this year.
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Life at Sportsbet
At Sportsbet, we love different and we love bringing excitement to life. We're part of the Flutter Entertainment group, over 7000 clever and curious people make us a global player. In Australia we're tight knit group of 700 team members bringing excitement to life every day.
We're a flexible, progressive, open-minded, and inclusive employer. We welcome you as you are. We like to focus on what you're great at and how you're going to make our team even better.
Working with the latest in digital technologies to solve complex problems for our customers, we invest heavily in ensuring that working with and using our products is always safe, rewarding and fun.
With state of the art office spaces, regular development opportunities, games and team activities, along with some of the smartest colleagues you'll ever meet, you'll have an awesome customer experience. It is full on here but we're confident that working at Sportsbet will be the most exciting chapter in your career.
Sportsbet's commitment to responsible gambling is genuine and demonstrated through the wide range of initiatives and tools we offer that go over and above industry requirements. Everyone at Sportsbet has a role to play in bringing our commitment to Responsible Gambling to life. Check out the tools and information we provide our customers to help manage their gambling on our dedicated site at:
https://responsiblegambling.sportsbet.com.au/hc/en-us
Bring Excitement to life!
Sportsbet's purpose is to bring excitement to life for its customers and we do this by overdelivering on excitement through serious fun, disrupting the status quo and living our values. From the moment you walk in the door you'll see that fun is at the heart of the way we work. We're constantly pushing the boundaries and challenging ourselves and those around us. We're genuinely passionate as we share in and celebrate each other's successes!
We're all about backing each other so, to help you get your game on, we've put our money where our mouth is when it comes to making our great people greater through amazing leadership, team and individual development initiatives. Sportsbet offers career experiences you won't find anywhere else. Just ask the 30+% of Sportsbettors who've made the move into new roles over the past year through taking advantage of some of the offering below.
Sportsbet Values Definition
We're customer obsessed. Decision making starts and ends with the customer
We put our customers at the centre of every decision
We prioritise things that matter most to our customers
We measure success based on what our customers do and say.
We're inventors. We're experimenters. We're curious to know what if?
We always strive to improve our customers' experience in big and small ways
We experiment with new ideas to disrupt the status quo.
We value diversity of thought
We're ambitious and empowered to initiate change
We are driven and energetic – we always go the extra mile
We take personal accountability to over deliver on excitement for our customers.
We challenge ourselves to do things differently
We take a good hard look at what we've done so we can do better.
Sportsbet Values Online
We give and receive honest feedback
We are invested in our development
We fail fast, fix fast and learn fast
We're not perfect. We take risks. When things stuff up we support each other.
We take smart risks
We encourage each other to keep trying even if things don't go as planned
We celebrate those who have a crack
The more fun we have within Sportsbet the more fun we'll create for our Customers
We are fun inside and out
We don't take ourselves too seriously
We work hard and play hard
We're customer obsessed. Decision making starts and ends with the customer
We put our customers at the centre of every decision
Sportsbet Company Values
We prioritise things that matter most to our customers
We measure success based on what our customers do and say.