Australian government and its ministers reached a major agreement to control the iGaming industry.
Australia.- Last Friday, the Australian Federal Government achieved an agreement with territory ministers to establish a unique National Consumer Protection Framework for the iGaming sector. A month ago, the government introduced the Interactive Gambling Amendment bill 2016 to add further legislation for the industry.
After a meeting in Melbourne, representatives of every state agreed on implementing 11 strategies to reduce the harm on gambling addiction. The Australian states will have to comply the new framework, which includes national self-exclusion register for online wagering; voluntary pre-commitment scheme for online wagering and ban on lines of credit being offered by wagering providers.
According to Federal Human Services Minister Alan Tudge, Australia reports three-times higher gambling problems than any other licensed market. “With those statistics, the real problems of the future are going to come from this space, unless we do something sensible to put in protective measures,” Tudge explained.
“We feel as if there is a complete conflict of interest between gambling companies both being a provider of gambling services and effectively a bank, giving a line of credit to continue using their services, using credit. We think this shouldn’t be allowed,” concluded the Minister.