Tabcorp Wants Live Betting Federally Regulated
TABCORP WANTS LIVE BETTING FEDERALLY REGULATED
16th March, 2012 at 03:53:03Source: http://www.azonlinecasinos.com
Live betting on sports is here to stay, says Aussie gambling group chief
David Attenborough, chief executive of the Australian betting group Tabcorp, says that live betting on sports is here to stay, and the federal government in Australia needs to do more to regulate it.
Attenborough was speaking to the American Chamber of Commerce in Australia when he made the call Friday, revealing that the federal government was examining the issues of broadcasting odds during live events and the provision of live betting over the internet, among other matters.
Currently, consumers can bet on live sporting events over the phone but not over the internet.
"Despite this prohibition, a number of wagering operators have offered live online betting to their Australian customers," Attenborough claimed without naming names. "We are not aware of any of these operators being prosecuted for breaching the Interactive Gambling Act."
Attenborough distinguished his company from such operators, saying that Tabcorp complied with the law, but was disadvantaged in so doing by competitors who appeared to defy gambling regulations with impunity.
It was therefore necessary for the federal authorities to introduce consistent national laws that would provide a level playing field for all companies involved in the Australian betting industry, he opined, adding that betting on sports was becoming "part of everyday entertainment."
This trend was boosted by advances in technology, especially in mobile devices, which made all transactions, including wagering and exchanging information, easier and faster, he said.
The Tabcorp executive revealed that his group would at some future stage like to enter Asian gambling markets, but due to complexities in culture, religion and law it may be a better idea to follow rather than lead.
WITNESSES NAMED FOR U.S. ONLINE GAMBLING HEARING (Update)
07th December, 2013 at 00:14:01
Opposing views will be presented to congressional committee.
M.G.T. CAPITAL IN U.S. SKILL GAMES SUPPLY DEAL
06th December, 2013 at 11:00:15
Company plans to expand into the US market with M2P Entertainment agreement.
Full Story: M.g.t. Capital In U.s. Skill Games Supply Deal »
MOBILE GAMBLING SET TO BOOM OVER NEXT FIVE YEARS
04th December, 2013 at 14:02:52
User numbers will rise by 100 million, says respected research firm.
Full Story: Mobile Gambling Set To Boom Over Next Five Years »
ACQUISITIONS DENT AMAYA GAMING Q3 RESULTS
29th November, 2013 at 10:49:21
Impressive increase in revenues is balanced by a net loss of $3.5 million due to hefty acquisition program.
Full Story: Acquisitions Dent Amaya Gaming Q3 Results »
BALLY TECHNOLOGIES PRESENTS SENIOR MANAGEMENT TEAM
26th November, 2013 at 05:02:01
SHFL Entertainment acquisition complete
Full Story: Bally Technologies Presents Senior Management Team »