Australian Racing Rolls Out New Rules to Combat Illegal Online Gambling - VIP Casino Bonus Bonus Offers, Free Spins + Casino Bonuses

Sunday, July 22, 2018

Australian Racing Rolls Out New Rules to Combat Illegal Online Gambling

Casino News Daily
Australian Racing Rolls Out New Rules to Combat Illegal Online Gambling

Australian horse racing trainers and owners could have their computers and mobile devices seized if they are suspected of gambling with illegal betting websites, under a new set of rules by Racing Australia, local news outlet The Sydney Morning Herald reports.

Racing Australia is the regulatory body tasked with overseeing Australia’s thoroughbred racing industry. The regulator has adopted speedily a fresh wave of rules aimed at clamping down on illegal offshore operators targeting Australian bettors.

Although Australians are allowed to wager on legal websites, they often prefer black market operators to regulated ones, tempted by the promise of a better product and odds. According to a 2015 report by the former Australian Council, the country’s illegal betting market was worth around A$400 million at the time and was expected to reach A$900 million by 2020.

A study by Racing Wagering Australia, the body that represents the nation’s online wagering sector, claims that the black market could be worth up to A$1.3 billion. The money goes to illegal operators who do not contribute back to Australia’s horse racing industry unlike regulated businesses.

New Regulations

The new rules are set to come into effect from August 1, 2018. They will apply to racing horse owners and trainers. Participants in the nation’s horse racing industry could thus have their electronic devices seized for forensic image if they are suspected to be wagering with non-licensed operators.

Racing Victoria, the regulatory body responsible for the racing industry of the state of Victoria, has previously implemented a similar rule to prevent participants from engaging into illegal operations. Racing Australia will now expand that rule so that it applies to all racing authorities in Australia.

Local regulators, including Racing New South Wales, have said they welcome the new approach to illegal betting as the growing betting market poses a great threat to Australia’s horse racing industry.

News about Racing Australia implementing new rules against illegal operations come shortly after a rollout of announcements from various Australian states and territories that they would implement a point of consumption tax on regulated betting operations.

Most recently, New South Wales confirmed that it would be taxing licensed operators at 10% on their revenue from the state. The new tax would be implemented from January 1, 2019.

Queensland has, too, recently announced that a new taxation regime on betting would take effect on October 1, 2018. Operators servicing customers from the state will be required to pay 15% on revenue from their local operations.

It became known earlier this year that the Australian Capital Territory will introduce a 15% point of consumption tax on January 1, 2019. Victoria will, too, roll out its new regime early next year, but it will tax licensed betting operators on 8% of their revenue from local wagering customers.

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