Written By Carla Harris
The world’s largest international bar association, the Association of Corporate Counsel recently published a comprehensive analysis of Australian wagering licensure that reveled a considerable amount of regulatory overlap in the national gaming industry. For years, political watchdog organizations such as the Rights Party of Australia have identified a problematic “regulatory creep” that significantly restricts the activities of all wagering operators that attempt to conduct business within Australian federal boundaries.
Numerous regulatory authorities currently have jurisdiction over Australian companies that support gambling operations. These regulators include each operator’s primary licensing body, its official State/Territory gambling regulator, all pertinent racing and sports controlling bodies, and various non-gambling-specific bodies such the Australian Competition and Consumer Commission. In many instances, two or more statutory organizations may enforce requirements that relate to the exact same gambling area or issue.
For example, in 2014, wagering operators faced a number of new challenges from the New South Wales thoroughbred racing regulating body, Racing NSW. The organization introduced a number of new approval conditions, including restrictions concerning the advertising of gambling products and provisions that require operators to accept certain minimum bets. These new stipulations cover the exact same ground as existing requirements that are already in effect under licensing bodies such as the Northern Territory Racing Commission and under federal public policies such as the Australian Consumer Law.
In 2015, Australia will host both the Asian Cup and the Cricket World Cup. By loosening existing restrictions in federal gambling laws and regional licensing stipulations, the country stands to benefit by capturing capitol that would otherwise go to offshore wagering operations.