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Poker News

Online gambling sites to offer cash poker games

Written By: PokerNet.com | May 25, 2012 | Posted In Poker News

It could be seen that Australian gambling and gaming sites will beginning trials of both forms of betting including live sports bettering and cash poker games within a year. This move would come as a result of the Australian Federal Government and their efforts to combat the impact of unregulated overseas gaming sites which are attracting Australians to their cause and diverting attention from the Australian economy and Australian based businesses, particularly bricks and mortar casinos as well as Australian owned and based online gaming sites.

Documents produced by the Federal Government detailing the move have recently been briefed by the Australian gaming industry and verified for the appropriate measures that would see online in-play betting reach Australians through online gambling sites.

Sources have also speculated that there could also be a five year trial around the corner for online poker.

Live Betting gambling is currently only offered over the phone or in person according to Australian regulations though it is expected that the transition to online would create a boom in the online industry, also producing around $300 million a year. This great deal of strength would be largely based on the accessibility of smartphones and tablets in Australia.

Downsides to in-play betting are also far more open and coercive to corruption as opposed to conventional forms of wagering due to the involvement of fluctuating odds within matches.

This is also enforced by the Government’s stance on advertising within sports telecasts which has also been heavily scrutinised in the past.

Independent Senator Nick Xenophon said that the proposal was a “betrayal” to Australia after the government’s failure on the promised delivery of “real poker machine reform.”

Senator Xenophon has demanded that deals be cut with the gambling proponents and that the government be warned that he would introduce legislation to further tighten the controls over oline gambling.

“We now know the government has been engaged in secret talks with the on-line gambling industry to enable them to diversify their addictive product to suck in more Australians,” he said.

“It seems the Government is cherry-picking the Productivity Commission’s recommendations. The Commission took a very cautious approach about online poker, but now the Government seems to have gone much further with what is being proposed.”

On May 9th, Merril Lynch gaming analyst Mark Bryan had briefed his clients over the Government’s plans after a symposium on online gaming with Tattersalls, Tabcorp, Jumbo Interactive and bookmakers

“In-play live online betting: Many in the industry indicated that they expect this to be legalised alongside poker in the next six to 12 months following overseas precedents,” he wrote.

“It seems (Communications Minister) Stephen Conroy’s department recently provided a brief on draft legislation.”

It is still under consideration whether or not the government will actively pursue these changes.

Source: Herald Sun

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