The Australian federal government has taken steps to implement new regulations aimed at improving safer gambling standards in the country. These regulations will impact various aspects of sportsbook operations, including retail betting and payments.
In response to a report from the Victoria Gambling and Casino Control Commission (VGCCC) about the rise in gambling incidents involving minors, Tabcorp, Victoria’s exclusive betting license holder, has been asked to introduce cashless retail betting on 70% of its terminals. This move is aimed at preventing potential underage betting scenarios. Approximately 1,800 electronic betting terminals belonging to Tabcorp will become cashless, requiring visitors to obtain a voucher from the venue’s counter and undergo an ID verification procedure if they appear to be younger than 25.
Meanwhile, Responsible Wagering Australia (RWA), a trade body representing various Australian license holders, including bet365, Sportsbet, Pointsbet, Betfair, Unibet, and Entain, has emphasized the importance of meeting responsible gambling standards across the industry. RWA’s chief executive officer, Kai Cantwell, described underage gambling as “absolutely unacceptable” and highlighted the importance of age and identity verifications in mitigating risks related to money laundering and terrorism financing.
The government is currently working to implement 31 recommendations from a parliamentary inquiry into gambling. Additionally, the Public Accounts and Estimates Committee issued a request to Victoria to restrict TV gambling ads as part of a broader report on gambling and liquor regulations in the state.
Overall, these initiatives underscore the government’s commitment to promoting safer gambling standards and protecting vulnerable populations, particularly minors, from the potential harms of gambling.