Horse racing is one of the most popular sports to bet on in Australia, legally and otherwise. With that in mind, the Racing Australia body has put new rules in place. These regulations will be applied to all horse owners and trainers across the country. This initiative aims to clamp down on illegal offshore gambling sites that target Aussie bettors. While many Australians use legal betting sites, there are some who prefer blacklisted and illegal operators.
While we do not condone this type of gambling, experts speculate that the odds from these sites are better. On the other hand, Aussies using these sites will face jail time and fines. So, what will the rules do to fight this?
New Racing Australia Rules
On 1 August 2018, the new rules will take effect for all horse trainers and owners. Specifically, those who are suspected of gambling illegally online. Racing Australia will be able to confiscate all electronic devices used for forensic testing. This rule is similar to regulations already in place in Victoria. Racing New South Wales has approved of the new rules due to concerns over the racing industry as whole.
The negative impact of illegal gambling has already been seen at racetracks, with the offshore betting industry valued at AU$1.3 billion in 2018. Current gambling laws have made many sites licensed overseas illegal. This change was passed into law earlier this year. As part of these new laws, every state has been voting and passing on new point-of-consumption (POC) taxes.
These taxes vary from eight percent to 15 percent, depending on the state. These POC tax gambling operators with players in the state for every bet made. So, there are a lot of taxes to be made up for Racing Australia and state regulators. Keep visiting CasinoAus for more horse racing and gambling news.