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Bookmaker asks for more time to process largest gambling payout ever

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Online bookmaker Betr has begun the slow process of paying tens of millions of dollars to its customers after the young start-up’s 100-1 promotion caused the largest payout in sports gambling history.

Tens of thousands of Australians flooded the new company’s app nearly a year ago, placing lucrative $10 bets on the Penrith Panthers at the promotional 100-1 odds. On Sunday night, the Panthers stunned the Brisbane Broncos 26-24 to win their third consecutive premiership title.

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Mark Di Stefano is Rear Window columnist, based in the Sydney newsroom. He previously worked at BuzzFeed, the Financial Times and The Information before joining the Financial Review as a media and tech correspondent. Connect with Mark on Twitter. Email Mark at mark.distefano@afr.com
Sam Buckingham-Jones is the media and marketing reporter at The Australian Financial Review. Connect with Sam on Twitter.

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    Original URL: https://www.afr.com/companies/media-and-marketing/bookmaker-asks-for-more-time-to-process-largest-gambling-payout-ever-20231002-p5e958