The Australian Communications and Media Authority (ACMA) has issued a formal warning to Best Bookies’ Price Pty Ltd for operating an unlicensed online wagering service in Australia. The service allowed customers to compare betting odds across licensed wagering operators and place bets on their behalf, but it lacked the required wagering license, contravening the Interactive Gambling Act 2001 (IGA).
Unlicensed Online Wagering Service:
Best Bookies’ Price Pty Ltd provided customers with the ability to compare betting odds offered by licensed wagering operators. While they had obtained authorizations from the state-based regulator, they did not possess the necessary license to provide interactive gambling services under the IGA. This led to a breach of regulations as they operated as an unlicensed regulated interactive gambling service for Australian-based customers.
Importance of Licensing Arrangements:
Licensing arrangements are crucial as they facilitate key consumer protections under state and territory laws and the IGA. Licensing ensures that operators meet specific standards, adhere to responsible gambling practices, and offer a safe environment for customers.
ACMA’s Ongoing Regulatory Efforts:
This warning is part of ACMA’s continuous efforts to enforce regulations and protect Australian players from illegal online gambling services. In November 2022, ACMA initiated website blocking measures to combat illegal offshore gambling websites by partnering with internet service providers (ISPs) to block access to nine such platforms, including Winning Days, 21Bit Casino, and Lucky Elf Casino.
ACMA’s Authority Expansion:
The ACMA’s authority was expanded under the IGA in 2017, enabling more effective regulation enforcement. Since then, the ACMA has blocked a total of 642 illegal gambling and affiliate websites, highlighting its commitment to curbing illegal online gambling activities.
Impact on Australian Tax Revenue:
This development sheds light on the broader issue of illegal offshore gambling’s impact on Australian tax revenue. A report by Responsible Wagering Australia estimated that illegal offshore gambling could cost Australians up to AU$3 billion ($1.9 billion) in lost taxes between 2022 and 2027.
The ACMA’s warning to Best Bookies’ Price Pty Ltd underscores the importance of adhering to licensing requirements and regulatory compliance in the Australian online gambling market. It reflects ongoing efforts to safeguard consumers and tax revenue from the adverse effects of illegal offshore gambling operations.