Following new gambling laws and regulations in Australia, more gambling operators are considering an exit from the market. Companies like William Hill, with a large presence in sports betting, might soon exit the country. The British gambling operator announced a ‘strategic review’ of their Aussie business earlier this week.
Their announcement comes after the London Financial Times reported possible new taxes in various Australian states. These tariffs, known as ‘point-of-consumption’ taxes, will mean that operators will need to pay revenues to each state they offer bets in, as well as the state they gained a license from. For many online casinos and poker rooms, this was a motivating factor for leaving the AU market in 2017.
William Hill Holding their Cards Close
While it’s always wise not to overplay your hand, William Hill seems to be taking their bets seriously. This ‘strategic review’ means that they could be getting ready to fold their hand in Australia. Of course, this is simply speculation for the moment. There have been other regulatory concerns impacting their profits in Australia in the past year.
At the start of 2017, sportsbooks were banned from advertising their services during sporting events. This came about after match-fixing allegations during the Australian Open and other tennis tournaments. What’s more, Australia banned credit betting shortly after. Gamblers could no longer bet with credit cards or other such services online or through operators like William Hill.
Showdown on the Way
To continue our Poker analogy, the federal government have been betting big on expected revenues from gambling laws. State officials have also been extremely vocal about other gambling forms, such as the last Queensland casino. However, their opposition to gambling may just lose them the game. After all, you can’t always bluff your way through a game when you’re dealt a bad hand.
We could be wrong, but only time will tell if Australia’s ambitious new regulations will pay off. Especially when they place focus on local operators to carry their gambling needs. Keep visiting New Zealand casinos for updates on the AU situation.
Taralynn Engels is a seasoned casino news writer with a passion for keeping her readers up-to-date with the latest happenings in the gambling industry. With over five years of professional writing experience, Taralynn has developed a deep understanding of the casino industry and a knack for delivering engaging and informative content. Aside from her in-depth knowledge of the casino industry, Taralynn possesses excellent writing skills that allow her to craft captivating narratives that keep readers hooked until the last word. Her ability to simplify complex concepts and present them in an accessible manner guarantees that her articles are enjoyed by both seasoned casino enthusiasts and newcomers alike.
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