What you should know about the Australian online gambling industry:Online gambling is growing fast in Australia, and its growing popularity is drawing the attention of the federal government.
However, the industry is facing a number of challenges, including a lack of regulation, a lack and a lack enforcement, and also concerns about the safety of the industry.
“There is an increasing number of consumers and businesses looking to access gambling online and this can be a growing concern,” the Australian Competition and Consumer Commission (ACCC) said in a statement.
“While the majority of Australians are aware of the risks of using gambling online, there are also significant risks associated with the availability of gambling online.”
For many Australians, online gambling is seen as a way to enhance their personal financial wellbeing.
“The availability of online gambling and the lack of regulated gaming sites and platforms has resulted in a growing demand for online gambling platforms and a growing reliance on gambling platforms for a large portion of the online gambling market.”
A major problem with online gamblingThe online gambling sector has struggled to overcome its challenges over the past five years, and is facing growing pressure from regulators.
The Australian Government’s new gambling regulator, the Australian Gambling Commission, has announced it will introduce new regulations to deal with the growth of online gaming in the next two years.
“Gambling on the Internet”Gathering the facts about online gamingThe ACCC says there is no evidence that online gambling harms consumers, and it is looking into the industry’s potential impact on health and safety.
“In response to growing concerns about online games, the ACCC has recently undertaken a study to identify potential risks to consumers and consumers’ safety and welfare associated with online gaming,” the agency said.
“We have also identified the needs of online gamers for the Australian gaming industry to remain competitive and offer a safe and secure experience.”
While the ACCC does not have the power to regulate online gambling sites, it has identified a number issues that it wants to address.
For example, online gaming sites need to comply with the Australian Communications and Media Authority (ACMA) Code of Conduct.
In addition, the ACCCM will be working with the Federal Government to ensure that Australian online gaming platforms are adequately regulated.
While some states and territories have laws on the books that require certain types of online games to be subject to a gambling regulatory regime, this has not been the case in Australia.
There are currently no laws in Australia that regulate online games.
“Online gaming can also present unique challenges for Australian regulators, given the number of players and the number and range of online services that exist,” the ACCCC said.
The ACCCM said online gambling can also be a “risky business”.
“While there is some evidence to suggest that some players may be at higher risk of injury or death as a result of online abuse, the evidence is less clear,” it said.
Online gambling services such as online poker and online casinos are not regulated in Australia and the ACC has also been unable to find a single online gambling operator that has been approved by the ACC.
In the US, the federal Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) has been investigating whether online gambling has any link to the use of firearms, although the agency has not made any public announcements about its investigation.
Online casinosIn the United States, online casinos have been banned for nearly a decade.
“This is a highly regulated industry,” the ACCM said.
“The only licensed gambling venue in Australia is the NSW State Lottery, and the only licensed gaming venue in the US is the Arizona State Lotteries.”
“However, in Australia the gaming industry has yet to be regulated properly by the ACMA and the gambling industry itself is not regulated.”
In recent years, online games have been growing in popularity, and there is a demand for more online gaming options.
“Australia has a huge gambling market with a growing number of people playing online games,” the Federal Communications Minister, Mitch Fifield, said in March.
“One in three Australians now play online games and it’s a growing market that is driving demand for the services of online casinos and gaming platforms.”
The Government has been in negotiations with the ACC for some time to have a formal role in the online gaming industry.
While it is not expected to be involved directly in the industry, the Government will “actively engage” with the industry in the coming months, the minister said.ABC/AAP