It’s an understated sports bar on the outskirts of Portland, a low-slung, brown building that sits in a suburban strip mall surrounded by car dealerships. Inside, it’s dark. TVs everywhere, video poker, betting odds.

But The Pit Stop Sports Bar & BBQ Grill is at the heart of a growing business that appears to be taking market share from The Lottery Corporation, which was spun off onto the ASX out of Tabcorp in 2022. With a market capitalisation of $11 billion, The Lottery Corporation is of Australia’s most profitable wagering groups.