888Poker Pulls Out of Aussie Market After the IGA Amendments
888 Poker is one of the biggest names in the online poker gaming industry, and it has always had a strong presence in the Aussie market. 888poker, following the great anticipation and tension in the market because of the imminent modification to the iGaming laws of the country, has decided to pull out of the Aussie market.
There are imminent amendments to the Interactive Gambling Act of Australia of 2001, which regulates all forms of internet and digital gaming in the country. The amendment that caused 888Poker to leave the Australian market is the one that stated that the operators that have an Australian license are the only ones that can offer gambling services to Australian players.
888Poker Has a Solid Reason for Leaving the Aussie Market
Since the country will only allow licensed gambling operators, 888Poker will not be able to operate legally in the country. This is because Australia only gives online gambling licenses to sports betting operators, but not online poker sites or online casinos. This is why websites that specializes in poker and other casinos games will have no other options but to pull out of the Aussie market.
888Poker has informed all of its players in the Aussie market with such news through a short email. The email stated that following the business re evaluation, they’d like to inform the players that the 888 Poker service are not going to be available for players who live in Australia. Therefore, any accounts for Australian players will be closed. Players will still get a chance to withdraw any funds that they have through the web cashier of 888poker.
The Previous Legal Situation of 888Poker and Other Operators
Prior to the amendments of the IGA of Australia, websites and operators like 888Poker operated in a great area. This is because poker operators and casinos were not legal, but they are not illegal either. This is a result of the fact that there was no law that specifically made them illegal or prohibited.
On the other hand, following the new rules, it seems that the Australian market is aiming to make it harder for offshore operators to target Aussie players. If these operators continue to offer their services, they will be listed as black market sites. This will certainly affect their licensing in the other jurisdictions and markets.
Heavy Fines Waiting for Operators that Do Not Abide
There are heavy fines that will be applied on the operators that choose to offer their services following these amendments. The amendment allows the ACMA to apply penalties that can amount up to 1.35 million Australian dollars per day for persons, and up to 6.75 million for any companies that are violating the law. These new rules will certainly push many reputable names from the Aussie market.