Bookmakers desperate for a win from AUSTRAC audits
Low discretionary spend, advertising bans and credit card deposits have made margins tight for bookmakers. The financial crimes watchdog could make it a lot worse.
Punters may have backed Italian Janik Sinner to become the Australian Open men’s champion, but the odds they’ll be using the same local bookmaker to take that gamble this time next year are less likely by the day. And it’s not because Sinner won’t be around to defend his title.
Australia’s wagering sector is facing a multitude of challenges, all with the potential to cause cost cuts and consolidation.
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