🦘Australia🇦🇺: Northern Territory to introduce new restrictions for young gamblers

🦘Australia🇦🇺: Northern Territory to introduce new restrictions for young gamblers

Deposit limits for young bettors, higher fines, and other measures.

🟦 What measures are being proposed❓

🔵 Monthly deposit limits for young gamblers: approximately USD 350 for those aged 18 to 21 and USD 700 for those aged 22 to 24.

🔵 A complete ban on inducements to participate in gambling, including bonus bets and VIP programs.

🔵 A significant increase in the maximum penalty for violations, from the current USD 135,000 to approximately USD 700,000 or 10% of the operator's annual revenue.

🔵 A ban on advertising that may be accessible to children.

🟦 Separately, Australian lawmakers are proposing a set of restrictions on the local regulator, the Northern Territory Racing and Wagering Commission (NTRWC). The proposals include a public register of conflicts of interest and a ban on accepting gifts from operators. Commission members were already prohibited from owning racehorses and opening accounts with local betting operators. The annual tax cap for licensed betting operators was doubled to approximately USD 2 million.

🟦 Now, for some context.

🔵 The Northern Territory Government oversees Australia's entire online betting industry. The Northern Territory is the least populated jurisdiction in the federation, with approximately 269,000 residents, or less than 1% of the country's population. Despite this, around 50 licensed bookmakers operate there.

🔵 Australia🇦🇺 is one of the world's most developed gambling markets and has an established regulatory system. Online casinos and in-play sports betting are prohibited in the country, except for horse racing and greyhound racing. All other activities are regulated and taxed.

🔵 Over the past 15 years, the proportion of Australians who gamble has increased from 12% to 44%. In 2024, the country ranked first worldwide in gambling expenditure per capita. A law restricting gambling industry advertising will take effect on January 1, 2027.

#news #Australia #betting

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