The government of New South Wales (NSW) has announced that it wants to amend two gambling regulations, which are set to expire in September 2022. In its official report, the government noted that the amendments will be made by the end of this year.
Individuals and Shareholders Will Be Able to State Their Opinions Until June 22
Anthony Keon, the hospitality and racing CEO, stated that statutory reviews allow the law to keep up with the ever-changing industry. The two gambling regulations that are set to be amended are the totalizator regulation and the betting and racing regulation.
They cover measures concerning the gambling harm, including penalty notice prescriptions, counseling, special exemptions and TAB shareholdings. Keon noted that a big part of the community is fond of placing bets, but “without it becoming a problem.” He added that these regulations are able to set the standards around the conduct of companies that provide betting services.
Moreover, the regulations in question create industry sustainability and certainty for the community. They also include details concerning the penalties that operators face if they engage with players who suffer from gambling harm.
Some of the changes that are set to be introduced in the regulations include changes to the way totalizator betting providers notify the Minister, annual fee adjustment in line with inflation, strengthening responsible gambling practices, bettering harm minimization principles and improving compliance. Individuals and shareholders will be able to state their opinions until June 22.
Keon stated that the changes will set the new standards for operators and bettors will be able to wager as a form of entertainment, rather than a way to make money.
NSW Regulator Wants to Keep the Industry Safe
The Independent Liquor & Gaming Authority, NSW’s gambling regulator is keen on making sure that the state’s gambling industry is safe and that operators adhere to the industry standards. As it showed recently, the regulator won’t hesitate to punish those that do not meet these standards.
In mid-May, ILGA issued over AU$100,000 ($72,000) in penalties in just one week. BetDeluxe was held accountable for publishing Facebook advertisements and hence, it was ordered to pay AU$70,000 ($50,000). The operator also had to pay AU$8,500 ($6,100) in legal costs.
PointsBet pleaded guilty to two illegal Instagram advertisements and was ordered to pay AU$35,000 ($25,000). Interestingly enough, PointsBet was also fined under similar circumstances in 2019 as it had to pay AU$20,000 ($14,000). Back then, the operator placed ads on Apple Store and on its mobile app.
Koen stated that some operators are “pushing their luck” by thinking that these penalties come as a “cost of doing business,” but he noted that they are wrong and that is why the regulator will take these matters to court and even request for bigger penalties.