Apr
28th

Betfair Seeking Regulation to Online Gambling in Australia

Despite the fact that online gambling is illegal in Australia, the laws are very difficult to enforce. This is one of the reasons why Betfair is amongst other parties that are seeking regulation of the online gambling industry in Australia.

The Productivity Commission in Australia is presently examining Australian gambling trends and the Commission is expected to report back to government in November 2009.

Betfair has reported that Australians wager approximately three hundred million dollars per year on online poker despite the fact that online gambling is illegal. Although it is illegal to offer online poker to Australian residents it has not stopped many large international operators from creating a customer base in Australia. Betfair also reported that it is sure that the amount of three hundred million dollars per year is increasing dramatically.

The Australian Government is therefore trying to find a way of keeping that money in Australia and not allowing foreign companies to benefit by getting their hands on the money.

Australia does not allow betting to take place online although it does allow betting to take place on sports. Betfair has pointed out that Australia is the only country in the world that does not allow Internet gambling but does allow sports betting.

Online gambling laws that were put into force in Australia as well as in the U.S. are very difficult for the Governments to enforce as they are very vague and it would be in the Governments’ interest to regulate and legalize online gambling.

In all probability, the U.S. online gambling laws will also be changing in the near future.

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