Put A Hold On That Online Betting

Added: March 31, 2016

At least that online betting as it relates to live sports action, that is. This just came out. As you might have noticed, there is a new hot topic in terms of online casinos and online gambling sites that has seemingly popped up out of nowhere. You might have first seen something or the other about this online gambling topic popup in a recent news feed. If not, following is what you need to know.

Start with the indisputable fact that the reality is that the government at the federal level has as of yet come to a clear consensus. Political jokes about consensus aside, this time around the issue is about that of whether or not live in play sports betting should be allowed. As you might well expect, some legislators are for it, some legislators are against it and other legislators just don’t understand what is going on.

Anyway, you may be quite interested to learn that so-called online sports betting will be effectively banned, as in stopped immediately until the federal election and reforms announced recently by the Turnbull government are put into effect. Note that one of the most contentious items in the reform package is that of unlicensed foreign sportsbooks taking in sports betting wagers from Australians.

But look just a little bit closer and you may well understand what this is really all about. You see, at current numbers, the sports betting world in Australia is reported to be an AU$3Billion a year industry. In other words, this is big money no matter how you slice it and dice it.

More to the point, up until the terms mentioned above are satisfied, it would appear that ‘live’ in-play sports betting is about to be banned, at least temporarily. As you might well expect, that is most certainly not welcome news for the likes of William Hill, Ladbrokes and Bet365. You probably know that William Hill, Ladbrokes and Bet365 are foreign owned sports books that provide live in-play sports betting through a combination of smartphone apps and proprietary websites. On the other side of the aisle so to speak are the native sports books such as Tatts, Tabcor, numerous pubs and clubs as well as the racing industry are quite keen to see this temporary ban made permanent.

Obviously it is way too early in the game to predict how this one will play out. All the same, now you have a better handle on what is going on in your local sports betting market.