Betr has paid $40 million to thousands of customers following an expensive and controversial launch offer.
News Corp’s former venture into Australian betting has belatedly paid thousands of punters who backed Penrith to win the 2023 NRL grand final following a controversial 100-to-1 inducement.
The fledgling wagering business wrote to customers on Friday to warn they would not be paid until October 6 at the latest, to the outcry of punters. It completed its payout on Wednesday afternoon, one day before its deadline. But News Corp executives took umbridge with the 100-to-1 odds offer and exited from its holding in February, with News Corp’s former Betr board members Peter Blunden and Mark Reinke quietly stepping away from their roles in March.All up, News injected $75 million into Betr, and wrote down $52 million as a loss for the 2023 financial year.
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