Sportsbet has acknowledged past failures in monitoring betting transactions but claims it complies with regulatory obligations, with its CEO admitting the need for improved systems to promote safer gambling.

A Victorian woman, Kym Cavigan, is preparing to sue Sportsbet after her accountant, Andrew Marshall, gambled away her entire life savings of approximately $820,000 through online sports betting.

This case raises serious concerns about the accountability of online betting companies, with critics arguing they profit from stolen money and employ predatory marketing tactics that target high-stakes gamblers, especially young men.

The broader social harm is significant, with Australians spending $31.5 billion annually on betting and a surge in sports betting among youth driven by aggressive marketing and insufficient regulation.

Marshall, who lost over $2 million of his own funds, reportedly transferred stolen money from clients to Sportsbet, where he placed up to 80 bets daily, with some wagers reaching $66,000.

Experts criticize the lax regulation of online gambling in Australia, which allows companies to operate with little oversight, contributing to widespread financial and social harm, including targeting young people and teens for sports betting.

Andrew Marshall, a former accountant and thoroughbred owner, admitted to stealing over $4 million from clients, including Cavigan, and has pleaded guilty to misappropriation, subsequently filing for bankruptcy after accumulating debts exceeding $4 million.

Despite her devastation, Cavigan is working with Marshall—who has provided documentation supporting her case—to challenge Sportsbet’s role in enabling her accountant’s gambling addiction, even though Marshall has declared bankruptcy.