Betfred has withdrawn from Australia after six months of trading, stating that the market is too “overpopulated” to continue.
"Following a review of the business it was felt that the market had become overpopulated, we have therefore decided that our marketing spend and ongoing infrastructure costs are best spent elsewhere,” John Haddock, chief executive of Betfred Group, told Bettingpro.
On December 1, Betfred Australia website users were greeted with a message that said: “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.”
