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Australian review of the Interactive Gambling Act of 2001

Monday September 7,2015 :  FORMAL ANNOUNCEMENT MADE ON AUSSIE ONLINE GAMBLING REVIEW (Update)
 
Former New South Wales premier Barry O’Farrell to head the exercise.
 
Australia's Social Services Minister Scott Morrison has formalised the intention of the federal government to conduct a review of the Interactive Gambling Act of 2001, announcing in a statement Monday that the initiative will be spearheaded by former New South Wales premier Barry O’Farrell.
 
"According to the Australian Institute of Family Studies (AIFS) online gambling is a A$1.6 billion dollar business in Australia with sixty percent of this revenue going offshore to more than 2, 000 sites beyond the reach of our regulators and tax collectors," Morrison said in a statement.
 
"Unlike Australia's licensed operators, overseas agencies don't contribute product fees to racing and sporting bodies, do not comply with Australia's legal system and are not obligated to monitor and report suspicious betting activity.
 
"Illegal offshore wagering also leaves Australian punters without protection for payouts on their winnings."
 
The minister added that gambling addiction affects hundreds of thousands of Australians and by not properly monitoring and taxing these offshore companies, many are susceptible to losing a lot more than their money.
 
There are about 30 operators running legal sites in Australia, Morrison said.
 
“For the vast majority of Australians, having a punt [has been] part of a recreational pastime for many generations and it’s part of who we are,” he told reporters in Canberra. But for 2 percent of the population gambling was a major problem, affecting their families, he said.
 
"More than 400,000 Australians, mainly men, have gambling problems," he claimed. "These issues can affect hundreds of thousands of Australian families and the children growing up in them.
 
"Problem gambling can also have a significant impact on social services and welfare spending such as income support payments, financial counselling and measures to address domestic violence.
 
"It is critical that we undertake a serious review of the impact of these illegal offshore operations on Australian consumers as well as our racing and sports industries and identify ways in which we can work to curb these impacts. It is especially important we look at what can be done to protect individuals vulnerable to problem gambling."
 
Minister Morrison said the internal government review would begin immediately, with final recommendations scheduled to be submitted to parliament by December 18.
 
The review's terms of reference include the economic impacts of illegal sites on legal Australian businesses, international counter measures, and options to educate the public – including warnings and campaigns.
 
A wide range of opinions will be sought from the racing industry, professional sports, wagering organisations and state and territory governments, and the public will also be invited to participate.

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Gambling News :

IGT Continues Partnership with Coljuegos EICE - IGT will continue its 16-year partnership with Colombian administrative gaming authority Coljuegos EICE following a public procurement process for a five-year private operator contract to run the draw-based online lottery game Baloto.

Magic Spells SLot Launches - The penny slots’ Wild symbol is a bubbling cauldron which is an Expanded Wild that can cover up to four positions for multiple winning combinations.

Mega Moolah progressive jackpot slot was hit for Euro 6,078,249.33 - Identified as N.C., the player was a novice who signed up to the online casino on a new customer bonus offering 100 chances to become a millionaire for Euro 5.

Lightning Box Games in Deal With Everi Games - Australian slot developer, Lightning Box Games, has entered into a distribution deal with electronic gaming content provider, Everi Games, for a selection of its proprietary slot content.

Storspiller HighRoller Casino Launches - Storspiller.com is targeted at “high rollers” within Kindred’s total registered customer base who play for GBP 200 or more per month.

Another Attempt to Acquire Tatts - The surprise A$8.4 billion bid for Tatts late last year by the Pacific Consortium caused some consternation in the Tabcorp and Tatts boards, which were in merger talks but these concerns faded following Tatts rebuff of the consortium's offer

US Supreme Court Interested in NJ SportsBetting Case - The US Supreme Court, which is for the second year mulling whether to hear New Jersey's case for wider legalized sports betting in the United States ) has showed some interest in the case.

Ladbrokes Trading Update - The Ladbrokes Coral plc online and land gambling group has released a trading statement for the unaudited year to 31 December 2016, reporting:

Leovegas Player Wins a BMW X4 - A 23-year-old Southampton University student identified only as Leo has won a GBP 50,000 BMW X4 sports saloon car playing NetEnt's Live Casino Roulette on the Leo Vegas mobile gambling,site.

New Survey on Europe Online Gambling Regulations - The companies delivered their conclusions, which include both EU and European Economic Area technical regulations, this week.

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