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International Betting Integrity Association Calls for In-play Sports Betting in Australia

Niji Narayan

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IBIA publishes data standards & opens application process
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The International Betting Integrity Association (IBIA) has expressed its support for in-play sports betting in Australia.

According to IBIA, lack of regulation for in-play sports betting in Australia is favouring offshore operators that pay no fees to the country.

Live sports betting is banned in Australia except in retail outlets and via telephone.

The Australian Sports Wagering Scheme (ASWS) is looking to establish a national framework to uphold sporting integrity, but has not included in-play betting in its proposal.

IBIA said in response: “The prohibition of in-play betting, along with a relatively burdensome fiscal framework for Australian betting operators, are key a drivers for consumer migration to offshore operators, notably in Asia.”

This body says regulating in-play betting form would addresses the issue of offshore unregulated gambling and also bring in tax money on gross gaming revenues.

It said: “The absence of an effective and coherent policy on in-play betting is detrimental to the regulated market. This creates a sizeable hole in any Australian integrity policy, be that at national or state and territory level. Similarly, racing makes up a large part of the betting industry and, if the Government is to assess and promote a national betting and integrity policy framework, that sport must surely form a central part of any related considerations and recommendations.

“In addition, whilst the move to a gross gambling revenue (GGR) tax in most states and territories is welcome, the impact of wider fiscal issues must be considered.”

Australia

Tabcorp Revenue Declines 5.7% During Three Months to September 2020

Niji Narayan

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Tabcorp Revenue Declines 5.7% During Three Months to September 2020
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Australia’s Tabcorp has reported a 5.7% decline in revenue for the three months to September 2020.

The trading update formed part of an investor presentation at the company’s AGM, with Managing Director and CEO David Attenborough revealing the slight 5.7% decline was mainly felt in its Gaming Services segment which fell 55.2% on the closure of licensed venues. Lotteries and Keno revenue was down 6.9% year-on-year with Wagering and Media down 2.9%.

“The duration and severity of COVID-19 is unclear, however Tabcorp remains well placed with our resilient, diversified earnings base and strengthened balance sheet,” Attenborough said.

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Australia

AUSTRAC Launches Formal Investigation into Crown Melbourne Over AML Concerns

Niji Narayan

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AUSTRAC Launches Formal Investigation into Crown Melbourne Over AML Concerns
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AUSTRAC, Australia’s financial crime watchdog, has launched a formal investigation into potential infringements of the country’s anti-money laundering laws by Crown Resorts.

In a Monday morning filing with the Australian Securities Exchange, Crown revealed that it had been informed of the investigation by AUSTRAC after the authority’s Regulatory Operations branch identified potential non-compliance by Crown Melbourne of the Anti-Money Laundering and Counter Terrorism Financing Act 2006 and the Anti-Money Laundering and Counter Terrorism Financing Rules 2007.

The potential non-compliance relates to “ongoing customer due diligence, and adopting, maintain and complying with an anti-money laundering/counter terrorism financing program,” Crown said.

It added that the concerns were identified “in the course of a compliance assessment that commenced in September 2019 and focused on Crown Melbourne’s management of customers identified as high risk and politically exposed persons.”

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Australia

ACMA Moves to Block Two More Illegal Gambling Websites

Niji Narayan

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ACMA Moves to Block Two More Illegal Gambling Websites
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The Australian Communications and Media Authority (ACMA) is set to request the Australian internet service providers (ISPs) to block two more illegal offshore gambling websites.

The sites to be blocked are Dinkum Pokies and Fortune Clock Casino. Following numerous complaints about these services, including complaints about withholding winnings and poor player treatment, ACMA undertook investigations that found them to be operating in breach of the Interactive Gambling Act 2001.

Website blocking is one of a range of enforcement options to protect Australians against illegal online gambling. Since the ACMA made its first blocking request in November 2019, 150 illegal gambling websites have been blocked.

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