The AWC Comments About the IGA Report
The Australian Wagering Council, which is referred to as the AWC, represents some of the biggest online gaming bookmaking names in the industry such as William Hill. The AWC has brought up all of its concerns through a submission to the Australian government. The Aussies government is in the process of finalizing a report that might change the laws of the outdated IGA (interactive Gambling Act). Bodies like the Australian Wagering Council is warning that a lot of money is being directed to illegal betting sites that are located offshore, in addition, as illegal syndicates take advantage, the Australian sports is going to be more prone to illegal match fixing.
The sports betting scene in Australia has been witnessing a lot of turbulence and upheaval. This is because there are major gaming operators that are located overseas and are licensed in the country. On the other hand, critics say that a lot of money is going to offshore gaming operators and in return, these sites pay no taxes at all, or a very small percentage, unlike land based operators in Australia.
The AWC is quite keen on avoiding what it refers to as, a 2.3 billion dollar leak to the illegal sites over the course of the next 4 years. The statement also added that it is clear that players are inclining more and more to wagering through the internet through their mobile phones and that the wagering regulations must reflect that reality. He added that the amount of wagers going to offshore operators cannot be prevented completely, but it can be reduced drastically by making the legit and licensed onshore industry more appealing and competitive.
Offshore operators who are unfairly avoiding paying taxes is only one of the problems facing the Australian market, as another issue that is quite pressing is not going away either, which is the problem of match fixing. As the Australian Open Grand Slam was smeared by the BBC report that stated that many of the top tennis players from around the world were approached by match fixing syndicates to manipulate the odds and throw matches. The AWC has commented on this issue by stating that without the government’s proper regulation as well as action, the match fixing cases will keep rising.
Back to the offshore gaming issue, the AWC is strongly urging the Aussie government to adopt the UK’s model. This would legitimate offshore businesses and they will become under the regulation and supervision of the Australian government. This model worked perfectly and helped boom the online gaming market in the United Kingdom through the creation of the Licensing and Advertising Act in 2014. The UK law states that whenever the gaming operations are located in offshore havens, they are taxed depending on where the players live, rather than the location of their operations. It is called taxing on the point of consumption, so if a site offers real money gaming to a UK player, then they are taxed according to the UK laws.