Paddy Power Free
Type | Subsidiary |
---|---|
Industry | Online gambling |
Founded | May 1993 |
Headquarters | Melbourne, Australia |
Barni Evans, Sportsbet CEO | |
Owner | Flutter Entertainment |
Number of employees | 869[1] |
Website | sportsbet.com |
Sportsbet.com.au, also known as Sportsbet, is an online gambling company owned by British conglomerate Flutter Entertainment, primarily targeting the Australian market. Sportsbet is licensed as a corporate bookmaker in the Northern Territory under the Racing and Betting Act 1993 (NT). Sportsbet offers betting services online through its website and its mobile app (on IOS and Android) as well as by telephone, and has more than 1.25 million Australian customers as at the end of 2019.
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Sportsbet is headquartered in Melbourne and operates within the strict boundaries set by multiple Australian regulatory authorities at a federal and state level. This regulation involves varying restrictions on products and promotional activities that can be offered by licensed corporate bookmakers in Australia.
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The company was acquired by Paddy Power in December 2010, and since 2 February 2016, it has been owned by Flutter Entertainment plc.[2][3]
Flutter Entertainment plc (formerly Paddy Power Betfair plc) is a bookmaking business created by the merger of Paddy Power and Betfair. It is listed on the London Stock Exchange, and is a constituent of the FTSE 100 Index. It operates under various brands including Betfair, Paddy Power, Sportsbet, TVG and FanDuel.[4][5]
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History[edit]
The business name Sportsbet Australia was first registered in 1994, with the Sportsbet.com.au domain name registered in 1999. In 2005, Matthew Tripp bought all shares of Sportsbet.
In May 2009, 51% of Sportsbet.com.au was acquired by Irish bookmaker Paddy Power. Paddy Power continued the Sportsbet brand name and company operation as a separate entity, while offering additional services.[2] The takeover allowed Sportsbet.com.au to acquire rival betting company International All Sports Limited, for 27.2 million euros.[6]
In March 2011, Paddy Power took full ownership of Sportsbet.com.au, paying A$132.6 million for the remaining 39.2% share, which valued the entire company at A$338 million.[7][8]
Paddy Power and British rival Betfair agreed terms for a merger on 8 September 2015. The business is owned 52% by the former Paddy Power shareholders and 48% by the former Betfair shareholders.[9] The merger was completed on 2 February 2016.[10] On 5 April 2016, it was announced that 650 jobs in United Kingdom and Ireland would be lost at the company.[11]
On 6 March 2019, Paddy Power Bet Fair announced that it would rebrand as Flutter Entertainment plc, pending shareholder approval at the company's annual general meeting in May. Flutter was originally the name of a betting exchange acquired by Betfair in December 2001. The company stated that the rebrand, which took place on 28 May 2019, would not affect the company's individual customer facing gaming brands.[12]
In May 2020, the global merger between Flutter Entertainment and The Stars Group was finalised following regulatory and shareholder approvals. Sportsbet and BetEasy formed the Australian component of the merger.[13] Incumbent CEO of Sportsbet Barni Evans was appointed to lead the combined Sportsbet and BetEasy businesses, with a decision made to move forward with the sole Sportsbet brand, retiring the BetEasy brand following a period of migration and integration.
Management[edit]
Sportsbet's current CEO is Barni Evans. Barni joined Paddy Power in 2001 as Director of Marketing for Paddy Power in Europe. He joined Sportsbet as a non-executive in 2009, and as an executive in 2011, serving in commercial and marketing roles before being appointed CEO in March 2018.
References[edit]
- ^https://www.linkedin.com/company/sportsbet/
- ^ abEddy, Andrew (15 May 2009). 'Irish giant snaps up Sportsbet'. The Age (Australia). Retrieved 11 April 2013.
- ^@globalgallop, Shane Anderson -. 'Huge Sportsbet result for Paddy Power'. RACING.COM. Retrieved 21 June 2017.
- ^Kate Palmer (4 May 2016). 'Paddy Power's Betfair merger pays off with £11m profit boost'. The Daily Telegraph. Retrieved 12 June 2017.
- ^'Online casino NZ'. Sunday, March 29, 2020
- ^'Paddy Power's Sportsbet buys IAS'. RTÉ (Ireland). 3 June 2009. Retrieved 10 April 2013.
- ^'Paddy Power to buy out Sportsbet'. BBC. 23 December 2010. Retrieved 10 April 2013.
- ^Gluyas, Richard (26 December 2010). 'Luck of the Irish for Sportsbet founder as bookmaker buys up'. The Australian.
- ^'Paddy Power and Betfair merger agreed'. The Guardian. Retrieved 29 January 2016.
- ^Michael Cogley (2 February 2016). 'Paddy Power Betfair begins trading after €8bn merger is completed'. Irish Independent. Retrieved 21 September 2018.
- ^Bill Wilson (5 April 2016). 'Paddy Power Betfair to cut 650 jobs in UK and Ireland'. BBC News Online. Retrieved 5 April 2016.
- ^Barber, Bill. 'Paddy Power Betfair group to change name to Flutter Entertainment Horse Racing News Racing Post'. Racing Post. Retrieved 6 March 2019.
- ^Gallagher, Erin-Marie. 'Sportsbet.au to absorb beteasy as part of Flutter-stars merger'. SBC News.
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How To Claim
- Open your first account with the company.
- Deposit and bet £20 on any bet classed as a single.
- Win and get paid as normal. Lose and you get your £20 refunded in CASH.
Paddy Power Bonus Details
New customers to Paddy Power can take advantage of a free bet bonus which provides them with a £20 risk free first bet with the company.
The £20 risk free bet will apply to your first bet as long as it’s placed as a single. It can be at any odds and on any market. If your first bet wins you get paid out as normal but if it loses you get a £20 refund which is paid in cash.
The offer is limited to one per customer, family, postal address and computer. There are no wagering requirements in terms of stake amounts required in order to be able withdraw winnings from any part of the offer
Terms and Conditions
The Paddy Power free bet is exceptionally simple and as such is subject to comparatively few terms and conditions. Those which are applied to the promotion however, are explained in full below:
- The Paddy Power bonus is for new customers only and provides a £20 risk free bet.
- Customers using Neteller or Moneybookers are excluded.
- In order to receive your £20 risk free bonus your first bet must be a £20 single but at any odds on any market.
- The free bet offer is limited to one per individual, family, household address and computer.
- If your first bet wins you’ll be paid out as normal and no bonus is applied.
- If your first bet loses you will be refunded £20 which is paid in cash.
- The offer is only available to those in the UK, Ireland plus a select few other territories.
- Paddy Power reserve the right to withdraw the availability of the welcome promotion and any other offer at their own discretion.
- If the terms and conditions of this offer are breached or Paddy Power believe that there is evidence of the abuse of the promotion which could guarantee profit for an individual or group of individuals regardless of the outcome of any bets, they reserve the right to void the free bets or nullify any bets funded by the bonus.
Our Rating
The Paddy Power joining offer for new players is undoubtedly a very easy to understand and simple deal, and that can be seen as an advantage in of itself. There are plenty of other reasons why this is a very good new customer bonus however.
Providing a £20 risk free first bet, means that the offer is accessible to a huge range of people and with the refund being paid in cash it’s one of the better deals out there.
What’s more, there are very few restrictions placed upon the offer, which is a big plus for us. It is for all of those reasons then that the offer earns a very good rating of 90%, which is only prevented from being close to full marks by the fact that a total bonus of £20 is a little lower than that provided by some sign-up promotions found elsewhere and if your first bet wins there’s no bonus applied.
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