The Northern Territory Racing Commission has opened a public consultation on the use of cryptocurrencies as a payment and betting option.
Australia.- The Northern Territory Racing Commission (NTRC) is analysing the possibility of regulating crypto gambling. According to local media reports, NTRC is seeking public input in a consultation on the use of cryptocurrencies as a payment method for gambling. The consultation is open until September 29.
The NTRC has recommended monthly crypto deposit limits of AU$2,000 (US$1,300), with a maximum wager of AU$5,000 (US$3,500) per month. It urged caution on the adoption of cryptocurrencies and argued that consumer protection needs to be strengthened by a better understanding of their volatility.
Julian Hoskins, principal at the major gambling law and regulatory advisory firm Sene, told Cointelegraph: “It’s clear from the draft framework that what they’re looking at is wagering using cryptocurrency, and not exchanging into fiat.”
He said that if the Northern Territory’s model works well, other states will likely follow.
Clubs ACT proposes trial of facial recognition technology
Clubs ACT CEO Craig Shannon has proposed a trial of facial recognition software to keep problem gamblers out of Canberra clubs. The technology would trigger an alert if someone who has registered for self-exclusion enters a venue’s gaming area.
Shannon said the system would only be installed in venues’ gaming areas, allowing those who signed up for exclusion to continue using the food and bar areas. He pointed out that currently, self-excluded players may be missed if they enter the gaming area from the restaurant or bar when staff are busy.
Facial recognition technology has already been installed in more than 80 per cent of gambling venues in South Australia, including casinos and clubs.
However, the proposal raised some doubts about privacy and consent. Attorney-General Shane Rattenbury said: “I’m not clear that’s the best way forward.”
Rattenbury added: “We’ve certainly encouraged the clubs to engage with the Gambling and Racing Commission to talk about the details of that, to consider restrictions and privacy legislation. Also, whether their customers really want this or whether there are other ways we might actually seek to minimise gambling harm.”