Australian betting operator Sportsbet has been accused of thieving business secrets from a site that hosts ‘punters club’ betting syndicates.

Jason Neave, CEO of the Adelaide-based Punt Club, has filed legal papers accusing top execs of Paddy Power’s Aussie offshoot Sportsbet of joining his site in order to pick up pointers before starting a similar service on Sportsbet.

Last month, Sportsbet launched the beta version of its Punters Club, in which groups of friends of acquaintances can form their own joint betting group. Each member contributes a certain amount of money to the pool, after which members take turns placing wagers on behalf of the group. There are also social components, allowing you to publicly rag on your mate after he loses all your money.

Neave’s Punt Club launched in 2011 and grew to host hundreds of betting syndicates, including some fronted by prominent AFL players. Neave claims he was approached by Sportsbet’s bosses about striking a deal to give Sportsbet “exclusivity” to Neave’s website, a deal Neave says he declined but counter-offered a link-sharing deal that would have benefited both companies.