Peak Sports bodies are pushing hard for the legislation of live online sports betting in Australia, The Sydney Morning Herald has reported. However, the government is worried about the increasing corruption risk of the sports industry.
Live betting is currently allowed through TABs and controversially, mobile phones. However, the federal government has considereing reviewing the Interactive Gambling Act – Barry O’Farrel put together the initial review document just before Christmas. Nick Xenophon has put together a bill for Parliament to review that recommends banning live betting, the betting related credit and the micro betting.
In Europe, Live betting on the sports after the event has kicked off accounts for more than 75% betting activity. The Australian Sports Commission has said that offshore betting should be reduced and brought onshore to ensure consumer standards are met. Advocates for the reduction of gambling full stop, like Mr. Xenophon, along with the Financial Counseling Australia have stated that it is quite dangerous for gamblers to loose huge amount of money – particularly young men and that the government has a duty of care to limit access to gambling services.
According to report of NISU, Australian gamblers are considered as a world’s biggest gamblers, more over $4.6 billon were spent for offshore gambling and $2.75 billion for online sports betting.