Wagering

The Hong Kong Jockey Club conceded an issue with its betting pools late in Sunday’s Sha Tin meeting cost around HK$350 million in turnover, while Australian punters were shut out of betting on commingled pools.

The early betting landscape of Australian racing changed significantly when Tabcorp altered its approach to publishing odds for certain meetings. One rival bookmaker believes the move lifts the lid on a bigger industry issue.

The Australian Communications and Media Authority has fined Unibet more than $1 million after an investigation into the wagering company’s non-compliance of self-exclusion regulations.

Predictions of a massive surge in state government revenue from the new Victorian Point of Consumption Tax rate have proven optimistic, with the state budget revealing a $139 million reduction in revenue expectations over the next four years.

Frustrated by the amount of money being bet through illegal outlets, one jurisdiction has taken a stand by ensuring owners must bet through the local tote.

The Australian Communications and Media Authority (ACMA) says a $500,000 fine imposed on PointsBet is a warning to the wagering industry to take compliance obligations seriously.

With a new Communications Minister in place and an electoral mandate in hand, the climate seems right for wagering advertising reform. But in what could prove an unexpected boost for the wagering and racing industries, there is no indication that PM Anthony Albanese has an appetite for change.