Five Reasons Online Casinos Should Be Regulated in Australia
Some studies have claimed that as many as three out of four adults gamble in Australia. For those that gamble online, they are doing so at unregulated online casinos. While online casino gambling in Australia is prohibited under Australian gambling law, the act of playing at an online casino is not criminalized.
As such, players are flocking to offshore sites, putting themselves at potential risk and keeping valuable tax dollars out of Australia. This could all change if the government would regulate online gambling. Today, we will take a look at five reasons that the government should regulate online gambling in Australia.
Increased Tax Revenue With Online Casinos
It’s no secret that one of the main problems with offshore online gambling is that the Australian government is not receiving tax money. Look at areas of the world with regulated online casinos. The government taxes online casinos and that money funds various programs in the state.
For example, a recently passed bill in the US state of Michigan will see taxes from online gambling go towards bolstering the education fund. In other countries, taxes are used from everything from infrastructure to pensions. State-run programs are run on tax revenue and online gambling and provide a much-needed source of tax funding.
Greater Player Protections
What happens if an offshore casino closes today? Are you able to cash out? If you’re unable to cash out, what happens? In most cases, when an offshore casino closes, players are out of luck. Their funds are generally lost or it takes an extensively long timeframe to recoup their deposits.
When online gambling is regulated, Australian online casinos will be required to have processes in place to keep gambler funds separate from operating expenses. If the casinos close, players can still access their funds.
Additionally, if there are problems with the casino software or casino processes, players can contact the regulator to step in and advocate for them. This is something you don’t get when playing at offshore casinos.
More Help for Problem Gamblers
Problem gambling is a serious problem and deserves its own category outside of player protections. In some cases, problem gamblers have trouble seeking or getting the help they need. As such, it is up to the gambling industry and the state to help problem gamblers get help.
With online gambling regulation, there are generally provisions to help combat and treat problem gambling. At the simplest levels, it begins with casinos offering help and resources for those that know they have a problem. Next, legitimate online casinos provide tracking and resources to seek out and identify those that may have a gambling addiction.
It goes further by having the gambling industry provide funding and additional resources to treat those that have been identified as problem gamblers. These resources are in addition to any normally provided by the state. Offshore casinos do not provide this additional help and leave gamblers to suffer from their addiction.
Online Casinos Create Job Growth
Every time online gambling regulation is brought up, there are those that point out that regulation will result in job growth. However, where do the jobs come from? Naturally, there are jobs that are created when the casinos develop and launch their online casinos.
However, those casinos have to be maintained. This requires tech experts as well as customer support agents to ensure that the casinos are running optimally. Furthermore, those casinos have to be promoted. This leads to job creation in the media, customer relations, and even web development. After all, online content is necessary to drive traffic from Google.
Greater Opportunities for State Casinos
The reality of live casinos in Australia is that they have a limited range of influence. While there are those that will travel to play at the casino, their everyday players come from the general area to the casino.
Online casino regulation will provide greater opportunities for Australian casinos, allowing players from all over the region to play online pokies, video poker, blackjack, and more. There are many that would love to gamble online but cannot afford the time to travel to the Crown casino or other casinos in Australia.
Live casinos would see a definite bump in overall revenue and statistics have proven that online casinos can drive traffic to their live casino partners. It is a win-win for everyone.
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