Latest News
Critics Argue Australia’s Approach to Regulating Online Gambling is Becoming too Paternalistic
Online gambling has become a globally successful enterprise with enormous growth worldwide and new platforms popping up all the time. As a result of all that popularity among gambling enthusiasts, it’s become a delicate balancing act for Australian authorities whose regulation of the industry is caught between needing the tax revenue and wanting to protect all involved while trying to avoid losing out to offshore competitors in the process.
However, some view Australia’s continuing crackdown on online gambling as going too far and heading in a direction that will eventually kill the industry. With a myriad of enticing platforms all over the world, there are plenty of offshore platforms waiting to pick up the pieces if that happens. Australian players are always on the lookout for perks related to the speed of payouts or ones that provide the least restrictive experience. According to casino expert, Sergio Zammit, casinos that offer fast withdrawals can process payments within minutes or hours, rather than days or weeks.
On average, offshore sites can offer players these kinds of perks more often as they are subject to less paternalistic regulations. Add to the fact that many offshore sites now offer the latest craze from online casinos and it becomes clear why Australia is in a tricky spot when it comes to how harsh a direction it chooses to take its iGaming regulations in. That craze is crypto gambling and it allows players at real money online casinos to bet and play using cryptocurrency.
As perhaps one of the leading adopters of cryptocurrencies so far through this initiative, the iGaming industry has seen interest soar in crypto casinos. It isn’t rocket science to figure out why. These types of platforms feature virtually instant payouts and far less restrictive sign-up processes since they don’t have to adhere to Know Your Customer (KYC) policies or even ID verification in most instances. This is because crypto gambling, like anything cryptocurrency-related, utilizes transactions that are verified using blockchain technology.
The entire appeal of cryptocurrency and blockchain technology is that it’s able to produce a digital ledger that records transactions in a virtually immutable way that’s also free of central authority. As a result, in the online casino context, it can provide a far more private experience since transactions are recorded via pseudonyms, ensuring players can retain a degree of anonymity and discretion when playing. Add to that the fact that crypto casino platforms also often come with more generous welcome bonuses and feature provably fair gameplay and it becomes obvious why offshore platforms are becoming so popular all over the world.
In comparison, Australian online gambling platforms must adhere to strict guidelines in terms of following KYC and AML procedures and a myriad of other licensing requirements and rules that are aimed at harm reduction and strictly enforced. Many believe such a legislative regime is necessary to ensure fair play and responsible behavior from both the providers and players. However, others argue that it results in an overly paternalistic approach that is becoming fodder for offshore platforms that are more lax with their regulations, enabling them to keep lapping up Australian players in droves.
As a result, not only do Australia and many other first-world nations with progressive tax laws keep losing local players to offshore platforms, but they face losing higher and higher percentages of potential tax revenue that can amount to billions flowing out of the country too. When all of this is weighed against the harm reduction goals of Australia and other countries like it, it often doesn’t feel very worth it. This is likely because arguments against a nanny state stem from the fact that such a form of governance inherently creates a more stifling society, one where people will always gravitate toward behaviors that beckon them with the allure of a freer and less restrictive regime.
After all, nannies are meant to watch over and protect their wards, keeping them from harm at all costs. The problem is that nannies are meant to take care of babies and young children whereas state gambling laws are aimed at adults. Adults are meant to self-regulate, so keeping them from harm at all costs also means no personal responsibility or accountability need to ever be shown from their side.
Latest News
7-Eleven selects Jackpot.com as their official lottery partner
Online Lottery Courier Service Jackpot.com Announces Exclusive Collaboration with 7-Eleven, Inc.
Jackpot.com will serve as the official lottery courier service of 7-Eleven, Inc., initially launching in Ohio and Massachusetts
Jackpot.com – the online lottery courier service that allows consumers to purchase official state lottery tickets on their phone, tablet, or computer – announced today an exclusive collaboration with 7-Eleven Inc., the largest convenience store chain in the world, to serve as their official lottery courier service.
As part of the collaboration, 7-Eleven customers in Ohio and Massachusetts will be able to sign up and play lottery games and scratchers on the Jackpot.com app or website. The program will initially be launched in over 600 7-Eleven and Speedway stores in Ohio and Massachusetts, with a special launch promotion that gives 7-Eleven customers a free lottery ticket on their first deposit by using promo code, “7Eleven”.
“We’re thrilled to work with 7-Eleven, the leading retailer of lottery tickets in the country,” said Akshay Khanna, CEO and co-founder of Jackpot.com. “Leveraging our technology and innovation, we can provide additional convenience for their customers, while adding an additional source of revenue. A true win-win relationship for all.”
By launching in Ohio and Massachusetts in 2023 and 2024, respectively, Jackpot.com aims at adding another avenue for player convenience with one of the most widely recognized brands in the convenience-retailing space. With a presence in Ohio, the nation’s seventh-largest lottery market, and Massachusetts, whose state lottery produced $1.2 billion in net profit for the Commonwealth during the 2024 fiscal year, Jackpot.com’s collaboration with 7-Eleven represents an added layer of accessibility for players.
Jackpot.com remains committed to responsible play and has significantly invested in protocols by allowing customers of legal age to set spend limits and limits on daily deposits, all while providing access to local and national responsible gambling resources, self-exclusion, self-suspension and automated notifications that offer help should problematic behavior be detected. Jackpot.com is also the only lottery courier service to launch with an iCap certification from the National Council on Problem Gambling.
To learn more, visit jackpot.com. First-time users can also download the official Jackpot.com Lottery App on the iOS or Android App Stores, where available.
eSports
The World Esports Summit 2024 Is Here!
The IESF World Esports Summit returns this December to Busan, South Korea. Hosted at the Busan Esports Arena (BRENA) from December 5-6, the Summit will bring together prominent figures from Esports, global brands, government officials, and sports executives for a deep dive into the current Esports trends, its rapid transformations, and future challenges.
This year’s theme, “Building Bridges, Not Barriers, Through the Power of Esports,” will highlight the role of Esports in uniting cultures, ideas, and industries. Under the slogan “We Empower Success,” the
Summit provides a great platform for Esports experts to engage in meaningful discussions and sessions, sharing their insights on trends and presenting forward-looking ideas for our industry.
The event, strategically timed at the close of the competitive season, presents a perfect environment for reflection on the year’s biggest events, industry shifts, and the next steps for Esports. Attendees can follow the expert’s perspectives on topics like:
- (R)Evolution in Esports
- East Meets West
- Esports Integrity: The Role of Referees
- The Rise of International Esports Competitions
- (In Korean) Korea’s Secret Sauce etc.
Also, featured at this year’s event are the IESF World Esports Training Camp and the World Esports Referee Academy.
These are very important IESF programs that are aimed at advancing the skills and professional standards of the next generation of Esports leaders.
Join us in Busan for two days designed to inspire, connect, and empower the international Esports community.
Registration for the World Esports Summit is free and open to all interested attendees.
To register, please complete our online registration form: iesf.formstack.com/forms/wes2024_participation_registration
See you in Busan!
eSports
Akhil Sarin CMO at Easygo named as key note at ICE Esports Conference
Clarion Gaming has confirmed that Akhil Sarin CMO at Easygo, the technology powerhouse behind the success of global brands Stake and Kick will headline the Esports & Games Conference (EGC) taking place on 21 January as part of the ICE Barcelona experience. As a key member of the executive team, Akhil Sarin has been instrumental in securing the high-profile partnerships that have accelerated Stake’s growth, including the Stake F1 team, UFC, Drake, and Premier League Everton FC.
Through these strategic alliances he has amplified Stake’s brand presence at the same time as creating unique, immersive player experiences, in the process setting new industry benchmarks.
Announcing the high profile speaker Will Harding, Head of Esports at Clarion Gaming said: “Securing Akhil Sarin as EGC key note at ICE Barcelona represents a remarkable opportunity for our attendees to gain invaluable insight into cutting-edge strategies in digital and influencer marketing .
“Akhil’s expertise with Stake and Kick.com embodies the forward-thinking, innovative approach that defines the digital marketing landscapes. His participation underscores the calibre of knowledge-sharing that we are committed to delivering at ICE and he is sure to both inspire our attendees and elevate their strategic perspective.”
Looking ahead to ICE Barcelona, Akhil Sarin stated: “Collaborating with Clarion Gaming at ICE Barcelona is an exciting opportunity to showcase Stake’s journey and continued focus on bold partnerships and creative marketing strategies that resonate with audiences.”
He added “The EGC is a vital platform for exchanging transformative ideas and shaping the future of gaming and entertainment. I look forward to discussing Stake’s vision and collaborating with industry leaders to inspire growth and innovation across the sector.”
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