Australias internet betting sector is projected to forfeit a substantial sum – roughly 2 to 2.3 billion Australian dollars – if the nation fails to revamp its online wagering regulations by 2020. This estimation comes from a recent analysis commissioned by the Australian Gaming Council, an organization representing prominent players in the online betting arena, such as Bet365 and Betfair.
The analysis, carried out by H2 Gambling Capital, also forecasts that Australia is losing approximately a billion dollars annually in tax income. The AGC is leveraging this data to advocate for a nationwide framework for gambling oversight in Australia, encompassing the removal of the existing prohibition on internet casinos. They contend that Australians are already engaging in online gambling, but are doing so through illicit, foreign providers due to the current legislation. This practice is financially detrimental to the country and exposes individuals to hazards. The AGC presented their findings, titled the “Impact Evaluation of Unlawful Offshore Wagering,” to the national government. They aspire for this to be the impetus needed for the government to finally intervene and update Australias gambling statutes.
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