Sport is made for betting

Sad news today of an Australian sports bookmaker going bust. The Australian Securities and Investment Commission (ASIC) website shows that liquidators have been appointed for SportsAlive. Should SportsAlive have adhered to their licensing conditions, specifically the one below, then all should be fine for punters. However, it sounds like a few guys have been slow paid for a while (this year's not the first time they've had cash flow problems) so it may be that one of them got fed up with it and called in the lawyers. Staff apparently hadn't been paid for a fortnight either. 4. Segregated Bank Accounts 4.1 A sports bookmaker must, for the purposes of the sports bookmaking business, maintain a segregated sports betting bank account for the purpose of betting monies received. For full details of the ACT legislation, where SportsAlive were licensed, click here . This is a critical test of the strength of Australian bookmaking regulations. Hopefully it won't be ...

Interesting development - TABCorp wants to kick the smaller TABs out of the sports betting platform (currently all state TABs share the same prices which originate from TABCorp's version of TABSportsbet), so ACTTAB have 'done a deal with the devil'. On a good point for punters, it brings a bit more variety to the industry and gives a sports bookmaker other than a TAB, their first venture into shops. ACTTAB looks to the future with Centrebet deal Expect the other smaller TABs to be on the lookout for similar deals. UPDATE - this deal also applies to the WA and Tasmanian TABs as well, and will commence in May.