The Betr brand will continue its journey under the ownership of BlueBet Holdings, which has chosen to adopt the name as its consumer identity in Australia.
On June 30 of this year, BlueBet officially took over Betr in what has been described as a transformational merger. The process of migrating all of Betr’s customers to BlueBet's proprietary technical platform is currently underway.
Following this decision, all BlueBet and Betr customers will now be unified under the Betr brand. This move was driven by “extensive research and testing with existing customers and the broader wagering market.” The research indicated “significant overall awareness of Betr and the strength of its youthful, dynamic, and sports-focused brand positioning.”
“These elements are critical in retaining and monetizing the large recreational customer base acquired as part of the merger,” the company stated.
In the coming weeks, Betr is set to launch a new app, and all customer-facing platforms will carry the Betr branding.
“The launch of Betr as our consumer brand identity in Australia marks the beginning of a new era for our customers, employees, and shareholders,” said BlueBet CEO Andrew Menz. “Betr’s extraordinary launch campaign generated strong brand recognition and positive sentiment among Australian punters.”
While BlueBet Holdings will remain the parent company and continue to be listed on the Australian Stock Exchange as BBT, the focus will shift to the Betr brand.
“Our market-leading technology provides us with the platform to deliver a world-class wagering experience, driving greater engagement and monetization of our customer base,” Menz added. “The single brand strategy will allow us to unlock revenue synergies, in addition to the $14 million in annual cost synergies that will be realized by the end of this calendar year, paving the way for sustainable and profitable growth.”
Betr, initially backed by media giant NewsCorp, made a significant impact on the Australian market in the spring of 2022, with a series of promotions that led to massive customer acquisitions. However, these strategies also attracted the attention of state-based regulators. Liquor & Gaming NSW found the company in breach of advertising laws and issued 14 penalty infringement notices totaling $210,000, which Betr chose to pay.
The merger brings together two prominent figures in Australian corporate bookmaking history, Michael Sullivan and Matt Tripp. The board of the newly formed company is currently chaired by Sullivan, with Tripp set to take over in January. Menz, who has a long-standing relationship with Tripp, serves as the CEO.
