‘Intrusive’: TAB’s outburst over Sportsbet
TAB has used its annual general meeting to blast rival betting companies like Sportsbet for using low brow advertising.
Shareholders asked TAB about the impact of “online low brow ads like Sportsbet, which are almost moronic”, as the government pushes to remove these ads altogether.
“We all find our competitors’ advertising annoying and intrusive. We have been advocating for less advertising on free to air TV.” TAB executive chairman Bruce Akhurst.
The call comes as TV gambling advertising is facing a partial ban, with limits to ads during general TV programming.
“The government has a review underway and we have made submissions to this. We will be happy to abide by this,” Mr Akhurst said.
Previously, a parliamentary committee, chaired by late Labor MP Peta Murphy, unanimously recommended banning gambling ads entirely.
A separate report by the Grattan Institute found Australia has taken a lax approach to gambling, and it shows.
It points out Australia has the highest gambling losses in the world.
Pokies and online betting are particularly addictive and harmful, leading to serious harm for hundreds of thousands of Australians.
“Gambling normalisation starts young, and advertising is a major culprit,” The Grattan Institute report concluded.
The federal government should ban all gambling advertising and inducements. That would go a long way to reducing Australians’ excessive exposure to gambling.”
TAB announced on Wednesday that it will look into its advertising campaign, although it admits it can’t compete with the online capabilities of some of the other providers.
However, TAB CEO Gillon McLachlan did highlight the brand’s strength now that people are going back to the pub.
“Cash wagering revenue increased by 5.3 per cent in the second half of the year, outperforming the digital market and highlighting the value in our retail business – particularly as people return to pubs and clubs post Covid and in a higher inflationary environment that makes more cost effective entertainment appealing,” he said.
The Group recorded revenue of $2.34 billion, down 3.9 per cent on the prior year, primarily reflecting the softer wagering market conditions and the sale of eBet and MAX Performance Solutions in Gaming Services.
