Tue, Feb 7, 9:45am by Staff Writer
Crownbet has upped the ante on Tabcorp in the battle for club members in NSW by becoming the official digital wagering partner of Clubs NSW.
Tabcorp’s retail brand, TAB, has had a virtual monopoly on wagering in the lucrative NSW clubs sector, but in a significant 10-year deal, clubs will earn commissions on bets made with Crownbet by their members in NSW venues.
While traditional TABs will continue to operate within the venues, the removal of exclusivity and the addition of incentives for club members to join Crownbet is a considerable shot across the bows of Tabcorp.
Crownbet’s services within venues will extend to the accrual of loyalty points which can be redeemed for purchases such as food and drinks, while Crownbet will also offer cash redemption machines which allow members to withdraw their winnings.
Clubs NSW represents about 1200 clubs with 6.7 million members and it is expected that the majority of clubs would take up Crownbet’s deal. That would see installation of cash machines, the building of an app which could operate within clubs and possibly the installation of Crownbet wi-fi throughout venues.
The significance of the move is that CrownBet is 62 per cent owned by Crown Resorts, which has stated its desire to grow its Australian footprint after withdrawing from much of its overseas interests.
Crown Resorts currently operates casinos in Melbourne and Perth, and is in the process of constructing a casino in the Sydney suburb of Barangaroo. It is also linked heavily to the construction of a new casino on the Gold Coast.
Crownbet is its foray into the booming digital wagering space, and is headed up by former Sportsbet founder Matthew Tripp (pictured), who together with some of his executive, holds the remaining 38 per cent of the company.
This agreement with Clubs NSW will allow Crown to build its membership base through the Crownbet brand outside of the casinos and into the clubs which are part of the social fabric through NSW.
The upside for Crownbet, which is headquartered out of Melbourne, is that it can grow its footprint in NSW, where it only has around 4 per cent of the digital wagering market.
The upside for Clubs NSW is two-fold. Firstly, it will boost funding for its venues through commissions from Crownbet and secondly, it will give it greater leverage in its dealing with the TAB over aspects such as the high cost of accessing the Sky Channel racing feed.
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