Sportsbet punts workers as quickly as winning customers.

sportsbetfiredWe all know that in their greed to make ever increasing profits, Sportsbet are the quickest to kick out (or fire) any winning customers. They have huge teams and automated systems that track everything and the moment they realise they can’t take money off you, you are shown the door. It now looks like those very same people who were tasked with kicking out winning punters have also been kicked out of Sportsbet. Sportsbet recently sacked 40 workers they felt were no longer “economical”. I guess this was a “traders” decision.

Sportsbet’s management team are running scared of their old boss (Matt Tripp) who is now running Crownbet and with larger profit expectations from their owners (Paddypower) they have simply taken what has worked on punters (kicking out ones that hurt their bottom line) and replicated that by kicking out employees who are not making them enough money.

Now I know that many of you might find it hard to feel sympathy for a bookie employee, but today we have an article from a current Sportsbet employee who is not happy with the way Sportsbet has treated his now ex-workmates.


Being a long time follower of the Daily25 website I thought this would be a great medium and opportunity to post my thoughts on some recent disgusting corporate behaviour, based solely on greed in the aim of record company profits. What you may see on TV or social media doesn’t always align with what happens behind closed office doors.

I used to be proud of my workplace. Overall they’ve been good to me; however, I have seen and lived through a lot of change over the years, especially lately and not for the good. This is the final straw; the tipping point has been reached. Sportsbet used to have a thriving, all-inclusive culture. It used to be enjoyable to go to work; you never worried about job security (and why would you when profits were up significantly year on year), you felt like you were a part of the success, your input was valued and most importantly, work didn’t feel like work. You were treated like a respected human being.

For the purposes of this article, I have put the biggest losers, you being the punters aside. We all know bookies aren’t in this for you. I’m sure you have heard it all before.

To first provide background;  Sportsbet posted a record-breaking $118m AUD profit in the 2015 calendar year. This was followed by reports last week the PPB Group are headed for a re-forecasted increase in full-year earnings guidance to a range between £390m and £405m (that’s pounds!) which included a Sportsbet year on year increase in revenues of +49% for Q3. And with Q4 also projected to be a bumper result with a stunning Spring Racing Carnival as well as AFL and NRL Grand Finals, there’s absolutely no reason they won’t smash the $118m profit this year. Sometimes though, more is never enough.

In order to achieve these fantastic results, the top level executive management team, spearheaded by the CEO Cormac Barry has been deplorable. There’s no escaping or hiding this fact. Unrealistic profit targets imposed by owners PaddyPower Betfair were a mountain too far to climb and hence synergies have been implemented. So what have Sportsbet done this past week and right through the past three months to cut costs in an attempt to achieve company targets? They’ve made redundant at least 40 people, and this is just the beginning. This has been the CEOs grand plan to cut the cost base and meet his individual personal targets. Company performance has been brilliant to say the least and the fact I have seen hard working individuals who have made the company what it is today lose their jobs makes me sick in the stomach. Staff were told that no jobs would be lost as a result of the PaddyPower Betfair merger, however deep down we knew what those synergies would be at some point. The answer being people’s livelihoods.

sportsbettweetTo add salt to the wounds, posting a jibe on the @workatsportsbet Twitter handle on the same day traders were made redundant that US citizens looking for a place to stay for 4 years on the back of the US election to apply for roles showed bad character, bad judgement and distaste to those who lost their jobs to the corporate fat cats.

The culture is now toxic. When you get into work and sit next to your fellow colleague and you don’t know if you will have a job at the end of the day you know something is erringly wrong. I am all for redundancies and cutting the cost base in a sinking ship when it’s done properly, it’s the sensible thing to do, no question. But when you as a Group are posting profits in the hundreds of millions of dollars, it’s wrong. Having witnessed people I am proud to call not just colleagues, but dear friends, be made redundant, I don’t care about not being paid the end of year bonus which we have been told we most likely won’t be receiving as we have not hit astronomical targets. I’m sure though the Executive team will be receiving bonuses.

sportsbetyourfired

Click to enlarge

The CEO keeps talking and preaching about a confronting notion that we are “in a street fight”, he’s infatuated and hell-bent on beating the competition at all costs, notably Crownbet, at the expense of his own people. I have attached an internal brochure that was distributed which shows the slogan that’s thrown around daily. Everyone has been told that this is the goal and we must all work religiously towards. My message to the CEO is start from within, mend the culture because once you have lost it, it’s gone forever. You’re already a winner. Unfortunately sometimes greed is never enough. Ironically, ‘Low Ego’ and ‘Integrity’ are two of the company values of which management are repeat offenders, but we will give them ‘Relentless will to win’ in their vindictive actions.

There’s so much I could have added which is just office nonsense that paints a wider picture, but I wanted to focus on those who have recently lost their jobs. Considering we are fed by you, the generous losing punter, as you can see with the recent released financial projections above, it was only fair to keep you informed. Like the others, my day may come tomorrow.


It comes as no surprise to me that the management team have used this course of action. Anyone that treats their customers as Sportsbet do will also happily get rid of employees if need be.

What are your thoughts on this? Leave a comment below.

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  • Nick

    Had a commercial discussion once with SportsBet. A game changing opportunity. Every other operator I’ve spoken to was represented by their CEO. SportsBet provided a mid 20s ‘product manager’ who said “we’ve never had customers ask for this product”.

    Absolute muppet. Notice he’s since moved on but they’ve missed their opportunity because of him.

  • steve jones

    Nah, Sportstbet are far from the worst, Ladbrokes, Bet 365, William Hill, have all banned me. I’m limited, but I managed to get $400 on Trump at odds of 4.65 from Sportsbet….by the way, I only bet on sure things.

  • wah

    Corporatism is all about taking from the poor and giving to the rich that includes ordinary workers. I wouldn’t just hang it on bookies supermarkets are no better and there is only one maybe 2 real unions left so good luck. I have been banned or limited by all the corporates except top (probably not corporate)sports and tatts bet.

  • Damien

    I challenge the writer to think from the “top level executive management team” point of view, what would you do?

    I too work at Sportsbet and I do not represent the execs or interact with them daily apart from a hello here and there in the lift. So I presume we are on the same employee level.

    I’m not sure how many companies you have worked at before Sportsbet but I have worked at a few before I was employed here. I was surprised when I arrived, the way Sportsbet treated their employees. Christmas presents, massive bonuses, huge raises, big parties and every Friday night drinks provided by the company. This was extravagant and do not get me wrong, I certainly enjoy having these perks.

    The companies I’ve been at before have been top tier corporations and do not go all out like Sportsbet does. They treat their employees well but not to the level I have experienced in my time here. I assume they were able to do so, because like you said they made a tonne of money, record breaking it was. So they could afford all these extravagant things.

    However with a rapid growth in a company in an ever changing environment, can not be sustainable. This is basic business 101. The rapid growth eventually plateaus and either steadily grows or declines dependent how fierce the market is. Hence we are in an adapting mode which unfortunately carries the consequence of redundancy.

    If this piece you wrote was to be non bias, I’m not sure why you wouldn’t include the fact that a person in the “top level executive management team” was also made redundant. So it’s not like it’s just people like you and me that are being targeted, people across the business are being looked at and whether that position is required or not.

    In my opinion, I do not think the company made as much money this year than any of the previous years. So looking at a wider picture, would you roll the dice with those 40+ employees and hope for the best? Or make the changes now so the company doesn’t go bust and have 100-200+ employees go unemployed?

  • Hi Damien, not sure what happened with your post. I have added it below as it is good to see others point of view.

    I challenge the writer to think from the “top level executive management team” point of view, what would you do?
    I too work at Sportsbet and I do not represent the execs or interact with them daily apart from a hello here and there in the lift. So I presume we are on the same employee level.
    I’m not sure how many companies you have worked at before Sportsbet but I have worked at a few before I was employed here. I was surprised when I arrived, the way Sportsbet treated their employees. Christmas presents, massive bonuses, huge raises, big parties and every Friday night drinks provided by the company. This was extravagant and do not get me wrong, I certainly enjoy having these perks.
    The companies I’ve been at before have been top tier corporations and do not go all out like Sportsbet does. They treat their employees well but not to the level I have experienced in my time here. I assume they were able to do so, because like you said they made a tonne of money, record breaking it was. So they could afford all these extravagant things.
    However with a rapid growth in a company in an ever changing environment, can not be sustainable. This is basic business 101. The rapid growth eventually plateaus and either steadily grows or declines dependent how fierce the market is. Hence we are in an adapting mode which unfortunately carries the consequence of redundancy.
    If this piece you wrote was to be non bias, I’m not sure why you wouldn’t include the fact that a person in the “top level executive management team” was also made redundant. So it’s not like it’s just people like you and me that are being targeted, people across the business are being looked at and whether that position is require d or not.
    In my opinion, I do not think the company made as much money this year than any of the previous years. So looking at a wider picture, would you roll the dice with those 40+ employees and hope for the best? Or make the changes now so the company doesn’t go bust and have 100-200+ employees go unemployed?

  • Martin Axe

    Sportsbet like so many businesses today treat their customers with absolute disdain, people should NOT use that brand period, there are plenty others, Betfair has no conflict of interest in you winning or losing and the odds are nearly always better, I don’t understand why people continue to use such poor companies like Sportsbet when it’s well known they ban winning customers, limit others and treat their customers as complete mugs, I’ve never used them BTW……and why would I?

  • Martin Axe

    Trump winning was never a “sure thing” and BTW you can lay Trump on Betfair for the 2020 election ATM if you think he wont be around in 60 days.

  • steve jones

    Completely different market, in my opinion. Besides, I think 2016 was the US last election as we know it.