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The British bookmaker, bet365, is looking to expand its horizons and is reportedly applying for a gaming licence in Australia. This means that as of today, August 22, all Australian players will not be able enjoy any bet365 gaming products. Additionally, any funds held by Australian players in bet365 gaming accounts will be automatically transferred to the sports account where they will be able to withdraw or use it to place sports bets. According to a bet365 spokesperson, not until the application has been submitted and the regulatory authorities have had the opportunity to consider it, is it in a position to comment further. However, if bet365 is given the green light by Australia, it will begin operating as early has November this year. Such a development would further stiffen the competition in the egaming market in Australia as it would join the likes of Paddy Power and Betfair. The gaming operator is applying for a licence in the Northern Territory. This will also be a historical moment for bet365 as it will be its first sports betting licence outside of the UK where it has a strong foothold over the market.
The Wallabies might have already suffered a shock loss in the group stages to Ireland, but our boys remain well and truly the second favourite in sports betting odds, behind only New Zealand. Get behind the boys With one game to go in the group stage, 888 Sport is offering tempting 8/1 odds on Australia to win the World Cup. This puts the Wallabies behind only arch-rivals and tournaments hosts New Zealand, 8/15, and ahead of South Africa and England, 9/1, and France, 12/1. Unless Ireland loses to Italy on the weekend, Australia looks set to play South Africa in the quarters and then New Zealand in the semis. The odds of a southern hemisphere team winning RWC 2011 are 1/5. The northern hemisphere is 7/2. Free bet back offer To celebrate the 2011 Rugby World Cup in New Zealand, 888sport is offering you an exclusive bet back offer. Place a single bet of at least $5 on either first or last try scorer in any match, and if the first try in the match is scored by a number 8 then 888sport will match your original stake on all losing bets, crediting you with a free bet up of $50.
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Australian online betting companies have made a push for the liberalization of gambling laws. In submissions to the Federal Government’s review of the 2001 Interactive Gambling Act, they have claimed current regulations prevent them from competing with offshore firms. Appeal to Allow In-Play Betting Sportsbet recommended in its submission that Australian-based betting websites should be allowed to offer what is known as “in-the-run” betting – referring to live, in-play betting on events that have already commenced. “Betting after an event has commenced is available over the phone and in retail outlets in Australia,” the company said in its submission. “With Australian-based websites prohibited from offering betting in the run online, Australians are placing bets in the run online through unregulated overseas websites.” Rival Firms Agree Rival betting firm Betfair pushed for new laws on online interactive games, and backed Sportsbet’s bid to remove in-play betting restrictions, which it said “would ensure that the issues surrounding problem gambling and integrity in sporting contests can be managed more effectively from within Australia.” Tabcorp also said online gambling must be deregulated to allow Australian firms to compete with offshore operators, adding that a national code of conduct for sports betting should be established to convey a message of safe and responsible gambling.
A representative for the major Australian banks has warned the federal government against any attempt to restrict online gambling by introducing US-style laws that focus on regulating use of payment systems. ‘Not straightforward’ Australian Bankers’ Association CEO Steven Munchenberg told the federal government joint select committee on gambling reform this week that attempting to restrict transactions to and from internet gambling sites was “not straightforward.” Munchenberg told the committee such a move would have a significant impact on the competitiveness of Australian business and on the ability for Aussie consumers to purchase online goods and services. If such a law goes ahead, he said, “it is possible that merchants and online service providers will refuse to accept business and payments from customers…originating from Australia.” Inspired by UIGEA The federal government committee is looking at a bill introduced by independent Senator and anti-gambling crusader Nick Xenophon to restrict financial transactions to and from outlawed online gambling and betting sites. The banks are obviously onto something here. This bill is clearly inspired by the United States federal government’s Unlawful Internet Enforcement Act, which in 2006 effectively banned Internet gambling by outlawing the transfer of funds from financial institutions to online gambling sites. Since then the law has caused nothing but confusion and misery.
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