Fantasy betting provider TopBetta, which late last year listed on the ASX, has struck an advertising agreement with Fairfax Media.
The online fantasy betting provider, which is chaired by former Seven West Media executive Nick Chan, sees punters compete against each other, rather than compete against the bookmaker - focusing on fantasy component of the wagering.
Its fantasy-wagering platform also acts an engagement platform and social environment, where people talk to each other, comment and check leader boards.
The new campaign will coincide with the start of the NRL and AFL seasons in March.
The partnership comes just days after TopBetta was fined more than $15,000 for publishing advertising that offered New South Wales residents inducements to participate in gambling. According to Igamingbusiness, TopBetta was convicted on three counts of publishing gambling advertising on its website between October 2014 and May 2015 that promoted ‘No Lose Saturday’. TopBetta pleaded guilty to three counts of breaching laws and was convicted and fined a total of $4,950 and ordered to pay professional costs of $11,000.
At the time Anthony Keon, Liquor and Gaming NSW director of compliance and enforcement, said: "Advertising inducements can lure people into gambling including those who may not be in a position to afford it or those who are susceptible to problem gambling.”
According to The Sydney Morning Herald, the company has 2800 active users but hopes to reach a 10,000 user target as a result of the advertising relationship with Fairfax.
The publications ads that the deal may help boost TopBetta against a rival offering, Moneyball, started by former Fairfax executives James Fitzgerald and Rax Huq.
Fantasy sports betting is huge in the US, with nearly 50 million fantasy sports players thought to generate more than $US2.3 billion in annual turnover last year. It's estimated that Australia has 1.4 million fantasy sports players.
In the US, since January this year, legislators in 16 states have introduced bills to carve out legal protections for fantasy-sports operators, nearly all of them supported by the operators themselves.
According to The Wall Street Journal, the measures are months away from becoming law and come as some payment processors have started pulling back from working with fantasy-sports companies amid legal and regulatory concerns.
The lobbying effort is being coordinated by the Fantasy Sports Trade Association and FanDuel and DraftKings, the industry’s two biggest players. The companies are spending between $5 million and $10 million on the lobbying effort this year and are hoping to pass bills exempting fantasy sports from state gambling laws in at least six to eight states.
In a company statement regrading its ASX listing, TopBetta MD Todd Buckingham said: “We like to call our customers weekend warriors. Those guys who get in there on the weekend and have a go, and want to have a punt just for the weekend, but they’re not serious punters. You can get on there and enjoy it a lot more than what you can, on a traditional wagering platform. “
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