Online betting on live sport "will be banned until at least the federal election and unlicensed foreign bookmakers barred from taking bets from Australians under sweeping reforms to be announced by the Turnbull government," according to Rick Wallace of THE AUSTRALIAN.
In a bid to regulate the rapidly growing $3B ($2.3B) a year sports betting industry, the reforms "are expected to bring an end to online bookmakers’ ability to offer punters credit."
In-play betting "will be banned online in the short term, most likely forcing foreign-owner bookmakers William Hill, Ladbrokes and Bet365 to shut down live betting systems offered through their phone apps and websites."
However, the government "has not decided philosophically whether it is for or against liberalisation of in-play betting via the internet and will revisit the issue after the election, once measures blocking offshore operators and protecting consumers take effect." Traditional operators Tatts, Tabcorp, pubs and clubs and the racing industry "will be encouraged by the short-term ban on in-play betting but keen to see it made permanent."
The mainly foreign-based corporate bookmakers "will suffer a revenue and growth hit through the short-term ban on in-play betting." Backbenchers who were briefed Thursday on the changes by Human Services Minister Alan Tudge said that "they were broadly supportive of the general direction the minister has taken" (THE AUSTRALIAN, 3/18).
