Betr

After the race, one Betr employee simply texted: “Gold Tripp hahaha.” Mr Tripp's Betr launched earlier this month, promising new customers long odds on sporting ...

The company placed bets on Deauville Legend with Tabcorp that reduced their exposure by around $10 million. Several sources in the gaming industry estimated that the start-up was looking at a loss of somewhere between $20 to $50 million if Deauville Legend prevailed. The promotion led to tens of thousands of new customers signing up to the app. Many bet $10 on the favourites of the Melbourne Cup, primarily Deauville Legend, with the hope of $1000 payouts. That was on the start-up’s second day in operation, and the probe is ongoing. Mr Tripp’s Betr launched earlier this month, promising new customers long odds on sporting events and marquee races in the spring carnival.