The history of bookmakers
Australia’s bookmaker organisations have a rich and varied history, from humble beginnings to major developments halfway through the 20th century. We take a look at the origins of bookies in our country and how everything began and evolved into the industry we know today. We will delver into everything from the first bets taken to the modern online bookmaker history, which has truly changed the face of wagering in Australia.
Australian bookmaker history
The advent of radio and telephones in Australia opened the door for starting price bookies. Until 1931 Aussies were legally only allowed to make a bet with an on course bookie. However, from 1931 we saw the rise of the SP bookie throughout Australia.
Starting price bookies would often hang around pubs and clubs, conducting their business from there. Punters would not be able to get a fixed price on their bet until after the race was run, at which point the bookie would be told, via an intermediary – or runner – the average odds of each horse from a range of on course bookies.
Starting price bookies were technically illegal in Australia but flourished none the less thanks to society’s needs at the time and police corruption. One of Australia’s most colourful underworld identities through the late 1970s and 1980s, George Freeman, was reputedly an SP bookie.
From there the government got involved because as they saw it, they were missing out on massive amounts of income that could bed taxed, so they decided to corner the industry by opening TAB’s. The industry slowly evolved into privatisation and online and mobile betting to form where we are now and how we bet.
Australian bookmaker history has continued to grow into the obscene in 2017, with one of the most wagering political events of all time, being the Same Sex Marriage Survey. Politics betting has continued to grow in Australia, even though laws surrounding online gambling and betting hero do not have progressive gambling laws.
Things like bookmaker odds boosts are common-place at Aussie betting sites in 2022, with the bonus bet ban forcing bookies to become more creative with their promotions.
Several big-name Australian bookmakers have come and gone in the history of the industry. These include brands such as Beteasy and William Hill, which were rolled into existing brands down under after big-priced buyouts. BetEasy (Beteasy app guide) was known for their great betting apps, while William Hill continues to operate in overseas markets.
Australian gambling regulators have shaken things up in recent years, with this including a minimum bet limit, which was something punters had argued in favour of for years.
Who was the first corporate bookmaker?
The year 1961 first saw the Victorian Government regulate betting with the introduction of the Totalisator Agency Board, or TAB, an off course betting shop that was accordingly taxed and monies funnelled back into the racing industry. The TAB began to spread across Australia, controlled by the government of each state. Slowly though, each state began to sell off the TAB to private companies.
The TAB has become the following entities:
- UBET – Queensland
- TAB – New South Wales
- ACTTAB – ACT
- TAB – Victoria
- UBET – Tasmania
- UBET – South Australia
- TABTouch – Western Australia
- UBET – Northern Territory
1993 saw the licencing of Australia’s first non-government run or owned sports bookmaker. SportsBet was a small bookmaker based in Darwin before it was bought by gambling magnate Matthew Tripp in 2005. The Northern Territory has become a gold mine for bookmakers, with the government giving out loads of licenses to corporate and online bookies.
What was the first online bookmaker?
1996 was the year Centrebet went live online as Australia’s first online bookie. However, at this time, the internet in Australia was still in its infancy, so online betting was not as wildly popular as it would become.
2001 saw the Australian Government pass the Interactive Gambling Act 2001. This Act prohibited online gambling operators to offer real money, interactive gambling to Australian residents.
2008 was the year a High Court ruling was passed that allowed online bookies licensed in the Northern Territory to expand their advertising to reach out with the broader Australian community.
2011 Saw the first bets in history on the Australian T20 Big Bash League, which launched to great fanfare, with even the great Shane Warne coming out of retirement to lead the Melbourne Stars. The BBL has developed into a huge betting event in Australia, with it even insanely popular in India, where cricket and cricket betting is like a religion.
2013 Perhaps one of the most important changes in online bookmaker history in Australia, was the launches of Ladbrokes, the well-known UK online bookmaker. Ladbrokes betting provides an outstanding service, with the Ladbrokes bonus codes and Ladbrokes betting apps making them an instant hit with Aussie punters,
2017 Neds Australia launches to great fanfare, with high-priced marketing campaigns spearheading their push into the super-competitive Australian sports betting space. Neds has continued to thrive down under, with features like the Neds bonus code and Neds app making them popular.
2022 The online bookmaker rumour mill has gone into overdrive this year, with it rumoured that FoxBet (FoxBet review) could enter the local wagering market. FoxBet has been a success in the USA and it would not surprise if they do launch in Australia.
2022 Has been another huge period of change in Australian online bookmaking history, with many rails bookies being forced into digital space. This has included the launch of CrossBet.
Bookmaker laws in Australia
To operate legally as a bookmaker in Australia you must be licensed by an Australian state or territory, with most of the big online betting sites in Australia boasting the Northern Territory Gambling Commission tick of approval. It is illegal to hold an overseas bookie license and then market your product to Australians.
The other big change which came into effect in Australia on May 26, 2019, was a line in the National Gambling Framework, which effectively banned bonus bets or new account incentives in Australia. This means Aussies can no longer take advantage of bookie sign up bonus offers or anything else that could be deemed an incentive to open an account.
In recent bookmaker history, Australian states enacted a Point of Consumption Tax on online bookmakers, which essentially takes a percentage (Victoria is 8 per cent) of total revenue derived from bets.
Australian regulated bookmakers
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Now the art of making a bet has been made simple and convenient since the dawn of online and mobile betting, we like to trust the following online bookies with our action. We trust these bookies because they have a massive reputation in the industry for fairness, player safety, generous sign up bonuses and regular promotions.
Check out each site for their bookie sign up bonuses, but beware – some sign up bonuses are not applicable to residents of Victoria (Victorian betting sites), New South Wales (NSW betting sites), South Australia (SA betting sites) or Western Australia (WA betting sites), due to those states’ strict gambling laws.
Australian online bookmakers are the best in history, and have got betting on all of the major Australian football codes, with these including the AFL, NRL and A-League. Horse racing betting is not just relegated to the major races, like the Melbourne Cup and Caulfield Cup, at Australian bookmakers, with all TAB meetings covered extensively, while all major International meetings are also available.
So much is incorrect on this site, from bookies to racing terms. So much missing.
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