A recent white paper issued by KPMG, the global consultancy firm, calls for the Australian government to change its attitude to online gambling.
The report, titled ‘Online gaming: A gamble or a sure bet?’ states that Australians spent approximately $800m in 2008 at off shore online pokies and casino sites, a trend which is likely to explode given the latest developments in mobile internet technology.
KPMG project the global gaming market to expand by over 40% to more than $32 billion by 2012, growth which the Australian treasury is likely to miss out on given the currently prohibitive legislation that is in force at the moment.
The current unregulated set up within Australia means that the majority of online gambling sites offering casino and poker games to Australian residents are outside the jurisdiction of the Australian government are subsequently not taxed.
Whilst changes have been made in recent years towards online sports wagering, legislation towards other online gaming sites needs to be re-evaluated in order to make the most of this growth industry and to protect Australian players by offering a regulated and secure playing environment.
KPMG’s report follows earlier calls from a draft report from the Federal Productivity Commission to legalise and regulate online gaming in Australia. The final report from the productivity commission is due out later this year.
Source: The Online Pokies Club.com
Tags: australia, Australian gambling
This entry was written by admin on Saturday, April 24th, 2010 at 9:53 pm and is filed under News.
