UK based bookmaker Betfred has announced that it has decided to leave the Australian betting market, stating that the market was not lucrative for the firm, which is leaving after just six months.
The move was announced by Betfred on their Australian landing page, and read: “We are sorry to announce that from Monday 1st December 2014 our Australian operation will cease trading. All monies will be returned to the card registered to your account. Betfred Australia would like to thank you for your custom and apologise for any inconvenience caused. If you have any further questions please email our customer services at email@example.com”.
Licensed in the country's Northern Territory, Betfred decided that the Australian market was oversaturated, and that the company had decided to re-invest in other markets where they will get better returns.