Published: 11.09.2019, 17:57
2 min read
Australia now comes second after Russia among the safest countries for the gambling industry.
In Australia, iGaming is not just gambling activity but also a way of entertainment. Over 80% of the adults are engaging in gambling, and the government has enforced strict regulations to ensure safety among its citizens. Moreover, it is a general consensus that Australia is the most gambling nation in the world.
Tabcorp is the leading Australian gaming company that is under a protection scheme which restricts any foreign competition. This company is now enjoying a monopoly on Keno and lotteries, after its competitors were chased out of the country two years ago following passing interactive gambling amendment act of 2017.
Australia has recently amended the gambling act of 2002, by adding regulations to their rulebooks. The government has now published new rules to ensure that customers in Australia will not receive a prohibited gambling service.
All the non-compliant companies are now pulling out of the country, leaving only the authorized companies to operate. The two companies, Tabcorp and Tatts, have now merged after the government connections, and it is now a safe place for a long-term portfolio. Reports from recent blogs say that Tabcorp is now becoming a government enterprise as a huge amount of its earning goes back to the government.
Gambling in Australia
There are rumours that the government is the biggest beneficially of the gaming rules, but the regulations were put in place to protect citizens from losing their money to the cartels. Aussie government has passed new gaming rules to apply, and there are only several Authorized physical casinos that are allowed to operate in the country. The clubs, bars and pubs are now offering electronic slot machines known as pokies.
The country is also regulating sports betting, and they have designated betting shops for placing fixed odd bets and tote wagers. Online gambling is now also legal in Australia, and the government has put various restrictions in place by passing the interactive gambling act. The new rules are relating to online gambling operators and not the players.
It is no longer an offence to engage in online gambling in Australia, and the players can now enjoy their winnings without being charged taxes.
