Companies Pushing for Change in Victoria’s Gambling Laws
For years now, the Australian territory of Victoria has only allowed one company to operate betting shops. Now, some of the world’s most popular gambling companies are pushing for a change in Victoria’s gambling laws. Gambling is growing every year in Australia, and a major reform to the laws here could be on the horizon.
There are a number of reasons for companies calling for this reform. Let’s look at whether or not this territory will implement new legislation in the near future.
Gambling in Australia Growing More Popular Than Ever
Australia has always had a passionate gambling fan base. Gambling laws here are generally decided within individual territories, yet the country’s government has been taking a more active role in gambling oversight. Online gambling laws here are complex, yet most people here still choose to make their bets through gaming websites based in Europe.
A number of these sites have received licenses to operate legally inside the country. The spike in gaming options is clearly helping to grow the industry. According to numerous reports, the Australian gambling industry is growing by 15% every single year.
The government is certainly profiting from gambling revenue. People here lose money gambling more than any other country. Australia earns significant revenue from the gambling industry every single year through taxes.
Online gambling is growing more popular than ever. Older bettors; however, are said to prefer making bets through a land-based betting shop.
A Change in Victoria’s Gambling Laws Is Being Pushed
As we mentioned earlier, Australia’s territories can set their own laws regarding gambling. Victoria has only granted one company a license to offer land-based wagers. That company, named Tabcorp, is earning millions in revenue every year.
The online sector here is open, yet the monopoly on the ground is forcing some companies to call for reform.
Paddy Power Betfair, the parent company of Australian-based Sportsbet, is leading the charge. They’re now openly asking for a change in Victoria’s gambling laws. This company argues that more betting options in this territory will benefit both players and companies.
“It is logical that the same benefits could be enjoyed by retail wagering customers if there was a liberalisation in the retail licence structure,” they said in an official statement.
Sportsbet is attempting to make some major changes in Victoria. They have made their case with the Andrews government, though it’s unclear whether or not their efforts will pay off.
Support and Criticism of Law Changes
There are supporters and critics of a change in gambling laws here. Tabcorp is likely appealing for these laws to remain in place.
Tim Costello, a reform advocate at the Allegiance for Gambling Reforms, wants the current laws the stay in place. He argues that additional gambling options would only increase a player’s losses and addiction. Mr. Costello’s opinion is likely to attract attention from government officials.
Others feel that a bigger list of options would help bettors. If more companies are operating here, the odds and bonuses for gamblers would have to become more competitive.
The government will now need to discuss whether or not they want a change in Victoria’s gambling laws. As of February 12th, no updates have come out on the situation. Make sure to stay tuned for any additional information over the next several weeks.
Do you support Victoria opening their land-based gambling industry? Will the change help or hurt bettors here? Let us know what you think in the comment section below!
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