Analysis

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.

Zoe SamiosBusiness reporter

Feb 1, 2024 – 4.59pm

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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.

Zoe Samios covers wagering and the business of sport from the AFR's Sydney newsroom. She was previously the media and telecommunications reporter for The Sydney Morning Herald and The Age, and covered media at The Australian.