While politicians like Andrew Wilkie and Nick Xenophon are have been working hard to impose limits on the land-based gambling world, a burgeoning market is brewing in the online world. A new study by Southern Cross University highlights the need for regulation in the online gambling world, rather than legislation in the land-based market.
According to studies, online gambling is the fastest growing gambling market in New Zealand and Australia. It is estimated that, over the course of the past six years, residents have spent more than $600 million on online gaming activities per year.
Knowing this, Andrew Wilkie should probably give up the idea of implementing pokie reform. Should the plan go through, it is likely that players will simply take their gaming online, taking with them valuable government revenue. Even if gambling reform does not take place, online gambling is bound to take over the local gambling market.
As such, the federal government should considering legislating online gambling. This would allow officials to oversee the activity and earn tax revenue paid by online casino operators.
