Racing Australia Unveils New Rule Against Illegal Bookies Abroad
Added: July 24, 2018
Racing Australia has launched an assault against illegal betting agencies after unveiling new regulations intended to discourage punters from wagering with unregulated offshore bookies. The statutory body responsible for Australia's thoroughbred racing industry has come out strong against horse racing owners and trainers that bet with bookmakers from abroad. Under the new rule, strict penalties will be enforced for lawbreakers along with heavy scrutiny on thoroughbred owners. Read on to find out more.
Racing Australia's New Law its Implementation
Racing Australia’s new rule is an expanded legislative decree on the Australian horse racing industry after the government of Victoria also implemented a localised ruling to the similar effect. This rule, however, will affect Australia in its entirety. In its raw form, the new law will follow horse racing trainers and owner’s betting patterns involved in Australia’s racing industry. If found guilty of wagering with an illegal offshore agency, it is now legal to seize the lawbreaker’s computer and mobile phone for the forensic image.
Australia permits online sports gambling on legal betting websites under the gambling laws’ current form. Yet, Aussies have been found to have a preference for unregulated betting sites under the guise of getting a better product and the best odds. Asian bookies are the main protagonists in this regard.
Racing Australia Projections of Losses to Offshore Betting Sites
Racing Australia chief executive, Barry O'Farrell, was damning in his analysis of the current regulations that aren’t putting anything back into the sport. According to a study in 2015 by Australian Wagering Council, the offshore market betting returns were valued at roughly AU$400 million and estimated to grow to $900 million by 2020.
In his assessment, O’Farrell explains that punters gambling with illegal offshore betting agencies create a ‘significant risk for the industry’. The news was endorsed by Racing New South Wales' chief steward Marc van Gestel, who welcomed the changes. The new law on online race betting in Australia will come into effect on August 1 2018. In the meantime, you can find all betting sites in Australian that are regulated here on Australiaonlinecasinos.net. For more Australian gambling news, keep the dial locks here.