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Betfair Looking at Regulation to Online Gambling in Australia

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Betfair is one of many parties that are seeking regulation of the Australian online gambling industry.  At present it is very difficult to enforce the laws even though online gambling is illegal in Australia.

Despite the fact that online gambling is illegal in Australia it has been reported by Betfair that approximately three million dollars a year is wagered by Australians and that this amount is increasing at an enormous rate. The fact that it is not legal to offer online poker to Australian residents has not put a stop to many large international operators from creating a strong customer base in Australia.

The Australian Government is obviously not happy that foreign companies are benefiting from the situation and are trying their utmost to find ways of keeping the money in Australia.

Betfair is seeking regulation in Australia of the online gambling industry as it feels that the present laws are very vague and also feels that Australia is the only country in the world that allows sports betting yet does not allow Internet gambling.

It is very difficult for the Government to enforce the online gambling laws due to the fact that they are very vague and it is therefore in their interest to regulate and legalize online gambling.