Government responds to Illegal Offshore Wagering Report
The Commonwealth Government has released its response to the Review of Illegal Offshore Wagering supporting 18 of its 19 recommendations.
Illegal offshore wagering is harming Australian consumers and our sporting and racing industries.
As the review highlighted, Australians lost an estimated $400 million betting in this illegal industry in 2014. This is expected to increase to $910 million by 2020. A further $100 million is also going offshore annually in lost tax revenue and product fees.
The incidence of online problem gambling in Australia is also high; some researchers say around 2.7 per cent of online gamblers have a problem, compared to 0.9 per cent for all gamblers.
The review sets the course for governments to deliver robust, consistent and effective safeguards to protect all Australians and the integrity of sports and gambling regulation.
The Commonwealth will lead a three-staged approach to implementation with state and territory governments aimed at ensuring all Australians are protected against illegal offshore wagering.