PointsBet objects to a takeover bid by Betr, even after the company returned with an improved offer of AU$1.35 ($0.87) per share, continuing the war with MIXI.Betr...
Betr fined over AU$210k in NSW for unlawful ads
The wagering operator Betr has recently received a fine of 210 thousand Australian dollars in the state of New South Wales.
The micro-betting-focused bookmaker has received the penalty for breaching the Australian state’s advertising laws. NSW’s gambling regulator stated that the firm advertised certain odds for numerous popular local sports events, which resulted in promotional materials across various verticals that broke the state’s advertising inducement regulations.
In total, the regulator recorded 14 separate breaches which add up to the final 210 thousand Australian dollar amount. This penalty is one of the state’s largest-ever fines issued to any gambling company, which Betr has decided to pay without going to court. Additionally, the operator immediately took down the violating advertisements when the regulator contacted it about the matter.
“Betr used advertisements that aimed to lure new customers with special wagering odds to expand its player base. These types of promotional campaigns can only be offered to those who already have betting accounts with the operator and should not be targeted to the general public on radio and television. General advertisements cannot contain information on various bonuses and increased wagering odds, as these elements entice people to start playing.”
commented the Executive Director of Regulatory Enforcement at Liquor and Gaming NSW, Jane Lin.
PointsBet's board rejects Betr's takeover bid once again and unanimously recommends shareholders to accept MIXI's competing cash offer instead.PointsBet, the Australian...
