Australian Racing Rolls Out New Rules to Combat Illegal Online Gambling

Australian horse racing trainers and owners may have their computers and mobile devices captured if they’re suspected of gambling with illegal gambling websites, under a new set of rules from Racing Australia, local news outlet The Sydney Morning Herald reports.

Running Australia is the regulatory body tasked with overseeing Australia’s thoroughbred racing industry. The regulator has embraced speedily a brand new wave of rules directed at clamping down on illegal offshore operators targeting Australian bettors.

Although Australians are permitted to bet on legal websites, they frequently favor black market operators to regulated ones, enticed by the promise of a much better merchandise and chances. According to a 2015 report from the former Australian Council, the country’s prohibited betting market was worth approximately A$400 million in the time and had been expected to reach A$900 million by 2020.

A study by Racing Wagering Australia, the body that reflects the country ’s online wagering sector, claims the black economy could be worth up to A$1.3 billion. The cash goes to illegal operators who do not contribute back to Australia’s horse racing industry unlike regulated companies.

New Regulations

The new rules are set to come into effect from August 1, 2018. They’ll apply to racing horse owners and owners. Participants in the nation’s horse racing industry could consequently have their digital devices seized for forensic image if they’re suspected to be wagering with non-licensed operators.

Racing Victoria, the regulatory body responsible for its racing industry of the state of Victoria, has implemented a similar rule to prevent participants from engaging into illegal operations. Racing Australia will expand that rule so that it applies to all racing governments in Australia.

Local regulators, such as Racing New South Wales, have said that they welcome the new strategy to illegal gambling as the growing betting market poses a great danger to Australia’s horse racing market.

News about Racing Australia executing new rules against prohibited operations come soon following a rollout of statements from various Australian states and territories that they’d implement a point of consumption tax on regulated gambling operations.

Most recently, New South Wales verified that it could be taxing licensed operators in 10 percent on their revenue in the nation.

Queensland has, too, recently declared that a new taxation regime on gambling would take effect on October 1, 2018. Operators servicing clients from the state will be asked to cover 15 percent on revenue out of their regional operations.

It became known earlier this season the Australian Capital Territory will present a 15% point of consumption tax on January 1, 2019. Victoria will, too, roll out its new regime early next year, but it is going to tax licensed gambling operators on 8 percent of the revenue from local wagering clients.