Racing has long expected a carve out from any federal gambling advertising restrictions, but even with an exemption, a significant shift in how bookmakers market to customers will have a commercial impact on the thoroughbred industry, writes Bren O’Brien.
The prime minister has outlined the biggest shake-up of gambling advertising regulation in Australian history, a move which wagering industry representatives have called “a real kick in the guts for the industry”.
There are a host of local factors in Flutter’s decision to pull the plug on national racing broadcaster FanDuel TV in the United States, but the broader issues should be enough to put racing administrators around the world on notice, especially in Australia.
Sixteen months after gambling advertising reform was pulled from the political agenda by Prime Minister Anthony Albanese, the federal government is reportedly set to announce a raft of restrictions.
Two of Australia’s three biggest bookmakers have now been caught up in class actions which contest the legality of their fast codes in-play betting service, with Entain joining Sportsbet in the sights of lawyers Maurice Blackburn.
The pending ratification of a global treaty designed to police match-fixing and illegal betting across international borders is set to trigger much stronger federal sports integrity laws in Australia.
A four-year period cost Tabcorp its dominant position in the Australian wagering landscape, with chief executive Gillon McLachlan revealing the green giant had been punished by changing customer behaviours as well as for its own entitlement and inability to accept change.
A ban on gambling advertising was just one of the 31 recommendations of the You Win Some You Lose More Report, but 1000 days after its release, Bren O’Brien says the political focus on only that one aspect has meant a missed opportunity to create a national approach to wagering reform.
Australian punters who wish to bet cash amounts of $5000 or more in venues or on track will now be required to produce photo identification as new anti-money-laundering laws come into effect at the end of March.
The sheer size of the unregulated gambling market and the fact that over 50 crypto operators are willing to offer markets on Australian and New Zealand racing present a huge integrity challenge to local racing authorities, a new report has found.
