PointsBet warns gambling reforms could give offshore operators an advantage
PointsBet says higher costs for licensed operators could strengthen the illegal offshore market.
Australia.- PointsBet has warned that Australia’s new gambling advertising reforms could unintentionally strengthen offshore operators unless the government also takes tougher action against the illegal market. Speaking at the company’s annual general meeting, PointsBet Group CEO Andrew Catterall said the bookmaker supported “pragmatic reform” but warned that the new framework would make operating in the regulated market more complicated and expensive.
Catterall urged the government to give regulators enough resources and powers to tackle offshore operators as the advertising reforms move into implementation. He warned that the offshore market already accounts for around 30 per cent of Australia’s licensed domestic wagering market and is growing faster than regulated operators.
He said PointsBet’s taxes and product fees are equivalent to around 50 per cent of its revenue, creating a significant cost difference with operators that do not pay Australian taxes or comply with local regulations. Catterall called for faster removal of illegal gambling advertising from digital platforms, saying real-time takedowns should be a priority. He also suggested targeting payment providers and banks that allow Australians to transfer money to offshore operators and called for tougher restrictions on Australian-based influencers who receive commissions for promoting offshore gambling services.
“There’s a raft of things to get at there, and we really need a concerted effort,” Catterall said.
