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Aussie Problems for Online Casinos

Relaxations in the Australian online casino betting legislation has meant that some companies are having a harder time staying competitive in the new industry. Specifically, TabCorp, an organization based out of Victoria is petitioning the government to alter some of the existing tax legislation in favor of TabCorp as a way to make the company more competitive against internet betting companies based out of other states. Foreign online casinos and internet gambling are really only just coming to Australia in full force and this means that there will most definitely be a transition period for the companies already operating in the market as they adjust to the new legislation.

The specific problems for TabCorb come in relation to the fact that TabCorp operates in Victoria, and pays taxes in Victoria, but yet has to face online casino betting competition from companies like Betfair, that are based out of the Northern Territory and are paying less in taxes. All of this then leads to the fact that Betfair and companies in other areas are able to offer better betting odds to punters because their taxes are not as high.

So where is the solution? TabCorp has requested that the Victorian government cut the amount of taxes that TabCorp pays on revenue and earnings. Another request concerns the fact that other online casino betting companies are able to offer tote odds or lower– which makes competing with them difficult. Less money for TabCorp means that the actual horserace venues and the such receive less money from the betting companies.