A high-profile legal battle has begun in Australia’s Federal Court, where former financial planner Gavin Fineff is seeking to compel three major betting companies to return millions of dollars he stole and subsequently gambled. The action, described by legal experts as unprecedented, names Sportsbet, Tabcorp and Entain, the parent company of Ladbrokes. Court filings argue that these operators encouraged him to continue gambling large sums without properly verifying the source of his funds or stepping in when his betting spiraled.

Fineff is currently serving a nine-year prison sentence for defrauding 12 clients of more than AU$3 million, money he used to fuel a severe gambling addiction. He will be eligible for parole in February 2028. In televised interviews and statements included in the case record, he has acknowledged his responsibility for the harm caused, while contending that the bookmakers also failed in their obligations.

Sydney barrister Geoffrey Watson SC, who has advised Fineff’s legal team, said, “This is a landmark case. If this is successful, it will change the gambling industry in Australia a great deal.” He added that the argument centers on whether companies “continued to prey upon that same weakness, getting him to gamble more and more and lose more and more.”

VIP Programs and Alleged Incentives Scrutinized

A substantial part of the lawsuit focuses on the conduct of two former VIP managers, George Khoury and Steven Bedwell, who Fineff alleges encouraged him to reopen accounts after periods of inactivity and provided inducements to sustain his betting. Both men worked in customer relations roles designed to keep high-value gamblers engaged, offering perks such as bonus bets, deposit matches and hospitality access.

Documents cited in regulatory investigations show that the managers were aware of his heavy losses. One internal email reviewed by the NT Racing Commission revealed discussions of his prior multimillion-dollar turnover and losses. Regulatory findings also noted that bonus inducements reportedly reached several million dollars at BetEasy and more than AU$500,000 at Ladbrokes.

In earlier inquiries, both BetEasy and Entain received fines for not identifying “problem gambling red flag behaviours.” According to the Australian Broadcasting Corporation, the NT Racing Commission concluded that Ladbrokes “appears to have not given due attention to whether the gambler could afford to gamble to the levels that he was.”

Sportsbet and Tabcorp have since ended commission-based compensation for VIP managers. Entain did not comment on current incentive practices. Internal documents that may emerge through discovery could illuminate these programs in detail, including how staff were encouraged to engage high-spending customers.

Calls for Reform and Reaction From Victims

Although any recovered funds would go to the victims of his financial crimes, Fineff remains a deeply polarizing figure. Sharon Williams, whose mother Joy Williams lost her savings to Fineff’s fraud, said, “Gavin suing the betting companies is blatantly the pot calling the kettle black. His actions are not going to bring my mother Joy Williams back, who died destitute at 87 years of age.” She also condemned the betting sector, saying, “It’s a very sorry industry, and to bonus employees, to get people to gamble more is particularly shattering.”

Independent MP Andrew Wilkie, who has repeatedly introduced legislation requiring betting companies to return stolen money, argued that victims should not depend on civil litigation. “It beggars belief that gambling companies believe they have a moral right to keep stolen money,” he said.

Fineff, speaking from prison, has also urged the federal government to strengthen gambling oversight. In a letter sent to parliament, he wrote, “The gambling companies know they are cultivating and exploiting addictions like the one I had. It’s part of their unspoken business model.”

Potential Impact on Industry Practices

Regulators have long warned that a small share of customers generates an outsized portion of betting revenue. AUSTRAC has estimated that 65 percent of Entain’s revenue comes from just 2 percent of its clientele. The case could force greater scrutiny of how companies monitor spending and comply with “know your customer” requirements, particularly when users place bets far beyond their income levels.

Across BetEasy, Ladbrokes and Tabcorp, Fineff claims to have lost more than AU$4.3 million, with turnover in the tens of millions despite earning around AU$130,000 annually. In some instances, he says, requests for proof of income came only after extensive losses had already occurred.

With the defendants declining public comment while the matter is before the courts, the case is expected to test whether Australian betting operators can be held financially responsible for failing to intervene when clear warning signs appear. A successful claim could also result in substantial repayments to victims and lead to broader industry reform.