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Regulating Aussie Industry

A recent report from the Australian Federal Productivity Commission indicates that Australia as a whole would be better served by lifting the ban on online casinos and instead putting tight controls and regulations in place. Australia, like the US, has legislation in place designed to block the foreign online casino gambling sites from accessing Aussie gamblers. And also like the US, the enforcement of the legislation is a whole other issue and the internet gambling industry is able to flourish in an unregulated Australian market. The Commission’s report culminates the results and conclusions from a recent study conducted in Australia that looked into the current internet gambling rates and market exposure.

Australia’s results are similar to any of the Western countries attempting to ban and block the online casino gambling industry, the activity is still taking place but under outside of the radar and regulation of the Australian government. According to the study, illegal internet gambling represents four percent of the Aussie market right now, despite the current ban in place. The ban has failed to achieve its objectives and the Commission is now calling for the government to abandon the plan to ban online casinos and instead look for ways to effectively regulate the industry.

A regulated betting and gambling industry is the safest option in any country and it also supports the country’s budget and financial stability because the online casino sites are forced to pay a percentage of taxes to take part in the market. The Commission has formally recommended new, inclusive gambling regulations as a way to further benefit the growth of a safe and legal internet gambling and betting industry in Australia.