The online gambling in Australia is showing signs of becoming one of the biggest in the world. However, the government refuses to acknowledge the profitability of regulating online pokies in the online gambling market, sticking to the Interactive Gambling Act 2001, which prohibits their use by Australian residents.
Currently, all forms of online gambling are regulated by the Australian Interactive Gambling Act, established in 2001. The act prohibits offshore operators from offering their games to Australian residents, allowing only two companies to provide online gambling.
TabCorp is the first operator which is allowed to provide online gambling solutions to Australian players, but it does not provide online pokies. Instead, it offers sports betting, and is one of the most profitable national bookmakers in the world. Over the course of the past few years, the company has processed over $1 billion in wagers from Australian players.
The Australian Lotteries Commission is the only other company allowed to provide online gambling to residents. Although few locations have taken the government up on this offer, there are some areas in the country where it is possible to purchase lottery tickets online. South Australia, for example, provides lottery players to purchase their lottery tickets from the local lottery commission’s website.
When it comes to casino gambling and vying for pokie jackpots online, the government has stated that the activity is prohibited. However, the Interactive Gambling Act does not prosecute individuals for gambling online – only operators face fines. Even so, few online gambling operators have been prosecuted for operating in the Australian market, so many continue to take their chances by offering their games to Australian players.
Things could change, however. The latest pokies news reports that the local government has recently started a review of the Interactive Gambling Act. This is likely due to the fact that laws have not been able to stop residents from gambling online, so politicians have decided to review these laws in order to determine a more effective way of dealing with online gambling.
Over the course of the review period, researchers and industry professionals are able to submit papers on a wide range of topics relating to online gambling in Australia. The government is hoping to receive opinions on the growth of the international online gambling market, regulatory approaches and online gambling technology – among many other topics.
The Minster for Broadband, Communications and the Digital Economy will review these submissions in the coming months before reporting on the best ways to deal with online gambling in Australia.
Author Bio:-
With increasingly more studies reporting on the popularity of online gambling in Australia, gaming industry professionals are hopeful that the government will consider regulating and legalizing online gambling once and for all.