Sportsbet founder Tripp re-enters Aus market

Sportbet founder Matt Tripp is returning to the Australian online wagering market three years after he sold his business to Paddy Power, eGaming Review can reveal.

Having seen out a three-year non-compete period last weekend, Tripp and his business partners acquired independent sportsbook operator BetEzy and are set to relaunch a completely new site in the coming months.

BetEzy, which is understood to be roughly equivalent to the Tom Waterhouse business acquired by William Hill in terms of revenues, will be rebranded as BetEasy.

The new site is set for a soft launch on 1 April with a full release one month later. Tripp will serve as CEO while former director of legal and regulatory affairs at Sportsbet Nick Tyshing will also serve as a director.

The operator’s sportsbook platform will be powered by new proprietary software, and be given a complete overhaul across desktop and mobile prior to launch.

Despite entering a highly competitive market dominated by Tabcorp, Sportsbet and William Hill’s Sportingbet, Centrebet and Tom Waterhouse brands, Tripp’s track record means he will be seen as a genuine threat.

Tripp led his father’s Number One Betting Shop business for several years before it was sold to Sportingbet for AU$100m in 2002.

After seeing out a non-compete period, in 2006 Tripp took over Sportsbet, then a small Darwin-based bookie on the brink of bankruptcy for just AU$250,000.

Paddy Power acquired a 51% stake in Sportsbet in 2009 and took full control of the operator a year later in separate deals thought to be worth around £150m.