The digital gaming sector in Australia is facing a potential financial crisis. Projections suggest a loss of substantial funds, potentially reaching two to two and a half billion Australian dollars by 2020, if the nation fails to modernize its internet gaming regulations. This alarming data comes from a recent analysis conducted by H2 Gambling Capital, a respected research firm, at the behest of the Australian Wagering Council (AWC), an organization representing major industry players like Bet365 and William Hill Australia.
The AWC is raising significant concerns, advocating for a unified national framework for gambling oversight, including the removal of restrictions on internet-based casinos. They contend that the existing system, a fragmented collection of state and territory regulations, is antiquated and driving Australians towards unregulated offshore gaming platforms. Their argument holds weight – the study estimates Australia is forfeiting a considerable sum in tax income annually due to this issue. The AWC urges the government to address this situation and view it as an opportunity to establish a comprehensive and effective regulatory framework for gambling within Australia.
