Australia Institutes In-Play Betting Ban
Australia remains a top location for online gambling. The restrictions on online gambling were limited, and this made it possible for gamblers to sign up and play their favorite games. Things did become a bit complicated recently. Online sports betting has just been temporarily banned. Until the arrival of the next federal election, accepting wagers on in-play sports bets via the internet is not going to be allowed.
In-play betting refers to wagers placed on live games as they are occurring. An example of this would be a wager on a third period penalty kick in football. A gambler could wager on whether or not the player is going to be able to make the goal. Odds are devised rather quickly to facilitate such wagers. Again, this type of betting is banned until new elections lead to new clarifications on the law.
The laws are a little confusing to those not familiar with Australian regulations. The online casinos that service Australia are located overseas. Residents of Australia are allowed to wager with these casinos, but domestic entities and businesses are not allowed to set up online betting businesses.
Calls for reforms and clarification to the law were made by those who oppose online gambling in all its forms. Some would prefer to keep Australian residents from being able to sign up with the foreign casinos.
The federal elections are sure to lead to some clarification over the gambling laws in Australia. The gambling industry in Australia generates $3 billion per year. Yes, this revenue is generated even though there are some gray areas associated with online gambling in Australia.
The Interactive Gambling Act 2001 is the source of laws related to internet gambling. A lot has changed since 2001. More people have access to more advanced technology. The gambling industry has been impacted quite positively as a result much to the chagrin of certain lawmakers.
Speculating on how the laws will be interpreted or changed in the future is a bit difficult. Those who enjoy sports wagering are forced to wait until after the elections to see which way things turn out.
