Seven forms joint partnership with Crownbet and Fox Sports for Draftstars
The parent company of the Seven Network, Seven West Media has secured a 33 per cent shareholding investment in fantasy sports wagering business Draftstars.
Draftstars was founded in March 2016 by CrownBet and Fox Sports and is now the official fantasy sports partner of the AFL.
The business also runs fantasy wagering contests for the NRL, NFL and NBA, and will soon expand to cricket and EPL.
Fantasy businesses such as Draftstars have been heavily criticised for creating new forms of gambling markets and for targeting youth audiences with the promises of big cash prizes via mobile contests.
The investment in Draftstars increases Seven’s reliance on income from the gambling sector. The network confirming it will heavily promote Draftstars during sports broadcasts, particularly the AFL.
Sports’ betting has become extremely important to the commercial TV sector, and particularly Seven’s revenue stream with Bookmaker commercials and Betting Odds heavily featured throughout the networks sports broadcasts.
In recent years Seven has also invested heavily in Horse Racing broadcast rights culminating in last years launch of a 24/7 racing channel in partnership with Racing Victoria. It’s understood Seven is looking toward striking a similar partnership with NSW racing authorities.
Betting agencies spend approximately $150 Million promoting their products, a considerable portion of that on TV advertising.
A motion put forward by Independent Senators including Nick Xenophon and Andrew Wilkie to ban gambling ads in sporting broadcasts that coincide with children’s viewing times recently failed to pass through the Senate.
The chief executive of Seven West Media, Tim Worner earlier this year described any move to place further restrictions on sports betting advertising on television as ‘draconian and unnecessary’
“We feel like we are in Groundhog Day. Seven and the other networks are already heavily regulated and we are very serious about our compliance. In fact, we undertake self-regulation beyond the provisions under the code.
“We already have extensive restrictions in place to ensure community standards are met. I have children myself and I am not blind to the concerns. This is borne out by the fact that the incidence of complaints from our viewers on sports betting ads is actually low.
“We have already banned the placement of betting and gambling ads during any programs classified G and the new Code prohibits advertisements relating to betting and gambling during any program that is broadcast between 5.00am and 8.30pm and principally directed to children. We feel this targeted approach will deliver a better outcome for all.”
Originally published at Blog — DeciderTV http://decider.tv/2c79ovD