It should be noted that every country strictly regulates the industry of gambling and betting. Governments introduce and undertake stringent measures aimed towards online casinos and betting companies so that players could be provided with high-standard services. Nobody wants to be scammed or have their payments frozen.
In order to establish a gambling organisation within a certain country, an operator has to abide by all laws and regulations issued by particular authoritative bodies. Obtaining not only a business but a gambling license isn’t that plain and easy. There are pitfalls along the way.
Both online casino newcomers and avid gamblers from Australia might want to know certain rules regarding betting and Internet casino regulation in their own country. We are going to display some basic and additional facts concerning gambling laws in the home territory of kangaroos and ostriches. Here we go!
Introduction to the Rules
The Australian government classifies gambling as an activity that entails betting real money or any other real-fund consideration on the results of any event outcome of which is decided by chance, it can be entire or partial luck. And one more peculiarity: a player obtains real money prizes following a gambling action.
Aussie regulatory bodies use a special term called ‘trade promotions’. This phrase implies setting up a company that specialises in either skill games or chance games. Regulations you have to follow vary depending on the type of trade promotions an operator opts for. The major difference between games of luck and games of skill lies in how a game determines the winner.
As for chance games, each participant has an equal possibility to win, so such games choose winners randomly. While determining the winner, operators can’t rely on players’ skills. In other words, chance games are precisely luck games.
On the contrary, skill games don’t decide outcomes based on luck. Players have to show off their skills in order to get the highest place in rankings. Basically, there is a judging panel that estimates the performances of participants.
So, such trade promotions are also regulated by each state in Australia. Some jurisdictions hold their own approvals with certain gambling limitations.
Gambling and Betting Regulations
Speaking of those providers that offer fantasy sports, they have been on the gambling scene for quite some time in Australia. Early on, they fit the trade promotion category, but now authorities classify them as bookmaking organisations. Australian regulatory bodies don’t have a special set of legislation in regards to pool betting. For those who don’t have a clue what pool means here, it represents a gambling method in which a number of punters wager on a specific event and all the money wagered goes to one or more winners. To put it simply, Australian totalisators have exclusive betting rights and licenses. Such operators are entitled to accept wagers on various events that form a gambling pool. Each payout is based on the number of victorious bets.
Away from betting pools, authorities also clarify rules regarding spread and financial product betting. The spread betting method hinges on your bets whether a certain share will pile up in its price or go down. A punter opens a long position once a commodity is about to rise. Otherwise, a player takes a short position. It means a player doesn’t purchase any tools but places bets on outcomes. If you have guessed the financial trend right, you make a profit.
So, there is the Corporations Act of 2001 that has regulations concerning spread betting. To provide legal services to customers, each operator has to obtain a license from Australian Financial Services. Although spread betting is regulated separately from gambling, it is all right to get a sports betting license from time to time.
Australia and Gambling
Every Australian state jurisdiction has defined prohibitions when it comes to the promotion of gambling services. Those operators that have licenses from the Australian government can do their business without legal issues. This applies to lotteries, betting and land-based casinos that offer slots, blackjack, baccarat and other gambling games.
Speaking of online casinos, it is illegal to set up a gambling company within the territory of Australia and offer casino services to Aussie punters. That is why completely legal local brick-and-mortar casinos don’t propose games, bonuses and payment methods on the net. This is the reason the majority of Australian punters tend to choose offshore casino venues to play their favourite slots and table games. It is imperative for Aussie players to select a reputable foreign casino that doesn’t freeze payments and scam users.
Legal Land-Based Australian Casinos
Check out a list of brick-and-mortar casinos catering for Aussies. These venues offer legal services to their customers. Let’s meet:
- The Star Sydney. The second largest brick-and-mortar gambling venue in the country. The complex includes 5 restaurants, 2 nightclubs, 7 bars, a spa and a concert hall
- The Treasury. An astonishing source of fun with more than 100 playing tables and 1,500 machines
- Casino Canberra. Enjoy a wonderful atmosphere of fun with 40 roulette, poker and blackjack gaming tables. Have some drinks at a restaurant and 2 bars.
Government’s Approach to Gambling
Because of multiple examples of negative effects of gambling on players, Australian governments take serious actions in regulating the betting industry. Nevertheless, gambling and betting took roots in local culture long ago, for example, taking into account horse racing and betting on sports events. Territory-based regulation of gambling in the country started more than a century ago.
However, since the inception of online betting, the gambling industry in the country has blossomed dramatically. Although there is a controversial view from the public, local governments don’t rush to impose prohibitions on the gambling market. Can you guess why authorities have taken such a stand? This is all due to the amount of money being received from taxes superimposed on gambling companies. For example, in the year 2018, the government of Australia claimed more than $6 billion AUD from the gambling market. No doubt that amount of money went down following the coronavirus pandemic. Nonetheless, the trend shows incomes can pile up in the near future.
To summarise, it is highly unlikely Australian regulatory bodies will reject such huge payments and close down gambling in the region. The betting industry is going to blossom further unless more beneficial entertainment appears on the table.