Racing Australia has introduced a new set of regulations to combat online gambling in horse racing. As per the new rules, Trainers and owners in horseracing could be booked if they are suspected of gambling with illegal betting websites. Their computers and mobile devices could be seised too.
Although Australians can legally bet on legal websites, they often prefer black market operators to regulated ones, tempted by the promise of a better product and odds. According to a 2015 report by the former Australian Council, the country’s illegal betting market was worth around A$400 million at the time and was expected to reach A$900 million by 2020.
A study by Racing Wagering Australia, the body that represents the nation’s online wagering sector, claims that the black market could be worth up to A$1.3 billion. The money goes to illegal operators who do not contribute back to Australia’s horse racing industry unlike regulated businesses.
The New Regulations
The new rules are set to come into effect from 1 August 2018. They will apply to racing horse owners and trainers. Participants in the nation’s horse racing industry could thus have their electronic devices seised for forensic image if they are suspected to be wagering with non-licensed operators.
Racing Victoria, the regulatory body responsible for the racing industry of the state of Victoria, has previously implemented a similar rule to prevent participants from engaging into illegal operations. Racing Australia will now expand that rule so that it applies to all racing authorities in Australia.
Local regulators, including Racing New South Wales, have said they welcome the new approach to illegal betting as the growing betting market poses a great threat to Australia’s horse racing industry.
News about Racing Australia implementing new rules against illegal operations come shortly after a rollout of announcements from various Australian states and territories that they would implement a point of consumption tax on regulated betting operations.
Most recently, New South Wales confirmed that it would be taxing licensed operators at 10 per cent on their revenue from the state. The new tax would be implemented from 1 January 2019.
Source: casinonewsdaily.com
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