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Betting in Australia

Competition in the betting industry is certainly just as tough as the global online casino market. Betfair has recently entered the Australian betting market despite outcry from the other state-based wagering companies. International jurisdiction is fast becoming one of the top issues in the global online casinos and internet gambling industry. Because the internet is so pervasive, even countries that have restrictions against online gambling are having trouble enforcing the restricting legislation.

The current online casino betting market in Australia allows authorized and localized gambling and wagering companies. Tabcorp is one of the top wagering companies in Australia and is not welcoming the competition now that Betfair has entered the Australian market. In fact, Tabcorp is just one of the several companies and Australian territories that are looking for a ruling that would force Betfair back out of the Australian online casino gambling market.

Though there are no firm rulings at this point, several governments are looking into the wagering and online casinos betting market to determine the whether additional legislation is necessary. The head of Tabcorp, Elmer Funke Kupper, is specifically looking for the government to "legislate a ban on betting exchanges."

The territories in question are Victoria and New South Wales – these two territories have not yet ruled on the issue and are currently investigating the claims from Tapcorp and others that the online casinos betting market needs further review. Tabcorp feels that once the state government puts basic reforms in place to protect the future of online betting, the market will become more stable and protect the interests of Australian based companies that would have to compete with companies like Betfair should the flood the market.