The High Court decision this week about Betfair is expected to further open the gambling space. Newsagents already have a connection with Betfair having been offered the opportunity to undertake over the counter ID checks for people wanting to open Betfair accounts.
Newsagents have long relied on the traffic generated by lottery and instant scratch ticket gambling. Just as that was facing disruption due to more outlets selling gambling and the arrival, in Victoria at least, of Intralot who will sell through other outlets as well as newsagencies, Betfair is unshackled by the High Court.
I have lottery products in one newsagency and not in two others. While they alter the traffic dynamic and present some challenges in this regard, having them makes your business a destination and this is what matters. Some of the challenges will change thanks to competition. In Victoria, for example, one Intralot starts trading I’d expect to see a more relaxed approach from Tattersalls. This will make it easier for newsagents to be entrepreneurial in the gambling category.
If I have an opportunity to offer broader Betfair services such as account recharge and payout I’d consider it.