Amid Australia’s belt-tightening on gambling regulations, William Hill, a global gambling company, is seriously reconsidering whether or not to remove their operations from Australia altogether. This comes after betting laws are scheduled to come into effect as soon as next month.
William Hill which boasts around 284 000 customers says that the tightening of regulations is going to have a direct effect on their bottom line.
William Hill vs. Stricter Regulations
It was agreed by both federal and state officials during the course of last year that they would implement a credit ban on internet betting companies. The ban would ensure that these companies stop the act of extending lines of credit to their players.
According to William Hill, the credit bet ban will most likely be followed by a point of consumption tax in a number of Australian states. This will more than likely continue to add pressure on any and all online gambling companies offering their services to Australians.
Xenophon Says William Hill is Greedy
Nick Xenophon, former South Australian senator and long-standing anti-gambling advocate, has been pushing for this credit betting ban for a few years now. When it comes to William Hill threatening to leave the country Xenophon could not be less phased stating, “I don’t have a violin small enough for William Hill.”
Xenophon goes on to say that William Hill is greedy and desperate for wanting to leave the country because of the implementation of what he expresses to be a reasonable ban.
Credit Betting Ban
Essentially, what this ban aims to do is to stop all gambling companies from offering free bets to their players once their bankroll has run out.
According to Xenophon, this credit actually adds fuel to the fire when it comes to gambling addiction. He goes on to say that quite a large portion of profits made at William Hill are off of people who are desperate enough to get credits with the hope of recovering from their losing streak.
Xenophon emphasises his lack of empathy with the company by mentioning if they want to leave the country, then good riddance.
It will be interesting to see what the gambling giant decides to do when it comes to continuing their operations in Australia. Stay tuned to Sun Vegas for the latest online casino, gaming and trending news.