Online gambling is a topic that elicits different reactions from different people. There are those that strongly feel that should be legalized in all states so that local governments can start earning revenue from the multi-billion dollar industry. On the other hand, there are people that feel that legalizing the act will increase the addiction that people have with the activity. This state of indecisiveness about whether the act should be made legal or not has led to the people that take part in the industry, especially game organizers to take advantage and at times even exploit unsuspecting customers.
In a bid to try and bring some order into the heavily unregulated industry, Scott Morrison has been appointed to head the new online gambling review. This was after Canberra was forced into a fresh review of the interactive gambling act. This was after they realized that the outdated laws have become too ambiguous, especially in governing games that are played through smartphones and online poker services. This review act will get opinions from betting agencies, and gaming operators and table their recommendations by the end of the year.
What led to the need for a review?
There have been reports that the new digital platforms being used to support betting and other gaming activities are interfering with the integrity of the gaming sector. For instance, it has been reported that punters in Australia can bet on and predict the outcome of a game even after it has begun. This is done via telephone or in person. Interestingly, predicting the outcome of a game in the online platforms is outlawed after the game has begun. William Hill and a few other British Rival betting agencies have also been using this controversial and wrong in-game betting system for several months now.
Does the move have any support?
The move to make online play betting legal in Australia is being supported by the Australian Wagering Council. The argument that the council gives is that when the practice is made legal, the local wagering companies will have a level playground with the online companies that illegally offer the betting options to Australian punters. Another industry heavyweight Tabcorp said that a review of the IGA was long overdue. The review will also include online casinos and all other gaming activities.
What benefits will come from the review?
If the review were to recommend legalization of the online in game betting and all the other gaming activities, the following advantages would be realized.
The money that is being lost to foreign companies that are offering the same services to punters will be earned by local companies.
The fraud that is connected to gambling and sports betting will decrease. This is because when the activity is legal, participants will be able to report when something illegal like being conned out of a won bet happens in the process.
The local economy will benefit from the multi-billion dollar industry. This is because they will be able to collect money in the form of licensing fees, and taxes from the earnings of online betting experiences both at the individual and company level.
This move will curb money laundering that in most cases is hidden in these online gaming activities will be controlled.
The people that take part in online gaming and gambling will now access the services easily without the fear of losing their money to fraudsters.
These are just a few of the benefits that would come from legalizing online in-game gambling.
The benefits of online gaming
As stated above, both the government and the people that take part in these activities stand to gain a lot should the process of online betting be legalized. It is important to know that there are several other benefits that come from gaming. These include the following.
Betting is very entertaining
While it is true that watching a game is a great experience, nothing takes the experience to a higher level than taking part in predicting the outcome. This makes you more interested in the sport, and you will take time to learn about the strengths and weaknesses of the participants to make an educated bet. Whether you win the bet or not, you will be thoroughly entertained throughout the game, especially because of the adrenalin rush.
Another great thing that comes from gaming and sports betting is that as mentioned, it improves local economies. For instance, instead of losing billions of dollars to foreign gaming agencies that are illegally offering the services, it would be better to allow local companies to offer these services. This way, the agency gets money, and the government collects revenue. Similarly, the interest in sports that are participating in the gaming activities increases and the result is all the stakeholders in the sporting industry and supporting industries benefit.
In conclusion, it is important to note that the issue of a review had been brought to the attention of stakeholders in the business early 2013. The recommendation was that interactive gambling be allowed. However, this motion seems to have been defeated before it got a chance to be presented to the national government. The people in charge of the review process, therefore, need to realize that unless they address this problem once and for all, it will keep recurring from time to time. What is making the issue even worse is the fact that tensions have been rising among stakeholders who feel like the playground isn’t level for them.