An Australian firm known as “Best Betting Company Prices Pty Ltd” received a formal caution from the Australian Communications and Media Authority (ACMA) for operating an internet wagering platform without the necessary permit.
This enterprise functioned as an intermediary, enabling clients to contrast odds from licensed betting providers and place wagers on their behalf. Despite “Best Betting Company” having authorization from pertinent state regulatory bodies, they lacked the specific license mandated under the Interactive Gambling Act of 2001 (IGA) to furnish these services.
The ACMA stressed the significance of these licenses, as they guarantee consumer safeguards under both state and federal legislation. Unauthorized gambling activities are a major concern in Australia, potentially depriving the nation of billions in lost tax income annually.
Subsequent to the warning, “Best Betting Company Prices Pty Ltd” has discontinued the service in question. This measure is part of the ACMA’s continuing endeavors to uphold regulations and shield Australians from illicit online gambling.
In an effort to curtail unlawful overseas wagering platforms aimed at Australian citizens, the Australian Communications and Media Authority (ACMA) has collaborated with internet providers to restrict connectivity to these domains. Just recently, an additional nine platforms were incorporated into this prohibited list, encompassing sites such as Winning Days, 21Bit Casino, and Lucky Elf Casino. This action elevates the cumulative tally of obstructed gambling websites to an astounding 642 since the ACMA was granted enhanced authority to implement online gambling regulations in 2017. This intensified enforcement is even more critical when considering the potential financial losses for Australia. A study conducted by the Responsible Wagering Australia organization projects that in the coming years, the government could forfeit nearly $2 billion in tax income due to these illicit gambling platforms.
