Home / Poker News May 2012 / The Poker Grapevine – Australia Looking to Legalize Online Poker
The Poker Grapevine – Australia Looking to Legalize Online Poker
Posted by: James Carter. - Mon, 2012-05-28 11:50
If the latest rumors from Down Under are true indeed, Australia may be the next country (or rather continent) to legalize and regulate
online poker. According to the Daily Telegraph, the Australian Government has made it clear that it was exploring the idea of legal online poker and sports betting. As a matter of fact, the legislative process in the matter is so advanced already that regulation may be applied within the next 6-12 months. According to insiders, online poker may be introduced from the very beginning, on a 5-year trial period, after which lawmakers would re-assess the situation.
According to the above said newspaper, the government had already briefed the gaming industry on its regulation plans.
Online poker has been illegal in Australia pretty much from its very beginnings. That didn’t mean though that various offshore sites didn’t find loopholes and ways into the Aussie market. The 2001 Interactive Gambling Act has officially outlawed real money online gambling, but there have never been any charges brought against any of the operators who breached the law in more than 10 years. According to the law, such operators face a fine of more than $1 million.
In other news: Spanish authorities have been busy the last couple of weeks collecting back taxes from online poker operators looking to secure a share of the freshly legalized Spanish online poker market. Thus far, companies like bwin.party have contributed around €60 million for the chance to be able to enter another – potentially massive – regulated market.
Of the €60 million, €33 million was paid by bwin.party alone. Sportingbet have also announced that they too would be making a back-tax payment of €14 million, plus some ‘small change’ in interest and surcharges. Other companies expected to make similar payments are 888, bet365 and PokerStars.
It’s amazing how the Spanish state is already reaping huge financial benefits even as the market hasn’t been opened up yet.
