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Racing Australia wishes to promote licensed bookmaking entities for a reason that’s all too common when it comes to gambling legalization and prohibition: money. You see, as part of the terms of their licenses, online sports and race wagering sites must pay a percentage of their revenue to the racing industry. When punters go to unregulated websites to place their bets, the Australian racing groups can’t take their cut of the proceeds.
Responsible Wagering Australia represents the licensed online betting services that conduct business in the country. Its executive director, former MP Stephen Conroy, estimated that there’s $1.3 billion per year in bets going to unlicensed offshore sites. This translates into millions in lost income for the Australian racing industry.Aussie authorities out for that money. 1.3 billion is no chump change and of course they want a cut of it. Consumption taxes in many territories are 8% or more. Thus, we’re talking at least 100 million dollars in taxes to be siphoned up if they can enforce these new rules.
News flash, they can’t. The Internet is evolving too rapidly to police.
Not that that will stop them from trying…
Source: https://professionalrakeback.com/racing-australia-regulator-announces-new-gambling-rules
