The digital gaming sector in Australia is at risk of significant financial losses. We’re discussing billions – perhaps as much as $2.2 to $2.3 billion AUD annually by 2020 – if adjustments aren’t made. This is according to a recent analysis, and the outlook is bleak.
The research, conducted by H2 Gambling Capital and requested by the Australian Wagering Council (AWC), also indicates the Australian government is losing approximately $1 billion AUD in yearly tax income. Imagine the possibilities with those funds!
The AWC, representing prominent industry players like Bet365, Betfair, and William Hill Australia, is advocating for an overhaul. They propose national oversight of the gaming sector and an end to the prohibition on internet-based casinos. They contend that Australians are already engaging in gambling on overseas platforms due to existing limitations, so why not retain that revenue within Australia?
This drive for change is part of a broader proposal the AWC submitted to the federal government’s examination of unlawful offshore betting. The H2 study serves as crucial evidence in their argument.
Ian Fletcher, the AWC’s leader, spoke frankly. He essentially stated that the government has been delaying action for too long, disregarding the substantial shift towards online and mobile gaming, particularly in the realm of sports wagering. He views this review as a prime chance to update Australia’s gambling regulations and bring them into the current era.
