The NRL will block Gold Coast from profiting on the result of any rugby league fixtures after giving the Titans' newly formed betting agency conditional approval on Tuesday.

Titansbet.com.au officially went into business on Tuesday, with the NRL saying it would be keeping a close eye on all its activities as the club looked to cash in on the lucrative sports gaming market.

The Titans claim they were forced to look for alternative revenue streams due to the lack of a licensed premises, the young club becoming the first professional sporting organisation in Australia to tap into an industry which is expected to turn over more than $4 billion this financial year.

"We believe the game is entitled to greater access to information from bookmakers to further protect the game's integrity and to earn a fair share of the revenue generated from our sport," NRL chief executive David Gallop said.

"While we accept that sports betting is a reality and that clubs are looking to build revenue streams, we will retain the right to examine each proposal on a case by case basis."

The NRL put strict guidelines in place as it gave the plan the go-ahead on Tuesday, one of which allows the league the right to prevent certain bet types as well as ensuring the Titans were not exposed to the profit or loss of NRL matches.

This means the club will only be allowed to take a percentage of turnover, not a cut on any winnings the betting agency may make on NRL games, removing the possibility of it being more profitable for the club to lose matches.

Titans chief executive Michael Searle said there was no way the club would allow the integrity of the game to be brought into question as a result of the arrangement.

"We have been in contact with the National Rugby League today and discussed it with them and given them a complete guarantee around integrity of the association and that the site will comply with any of their future requests moving forward," Searle said.

"It's completely independent of the bookmaker but it's a true joint venture in that we have an association."

"The club will have its job to do as a football team, we'll ensure we comply with all NRL requests."

Brought to you by AAP © 2024 AAP