Australia’s Betting History – Australians have a long and storied love affair with sports betting. In fact, it’s surprising to learn that sports betting history in Australia actually pre-dates the country. It was accepted as a legitimate form of recreation among the early settlers, with many of the first government buildings even having facilities for running bookmakers that would supply odds on government races.
Sports betting online has been legalised in Australia. The Draft Betting Bill was passed, allowing punters to bet on sports outside of their home country. Many bookmakers have already set up shop here, but the new law will give punters more options, and most importantly, legal protection. Punters will be able to place bets on events taking place worldwide, offering more betting markets than ever before.
The move is a little late in coming, considering the law was first proposed in 2013. At the time, it was estimated that AUS$4.7 billion was being wagered on sports every year. Punters were predicted to wager as much as $200 million in 2014 alone when the final bill was passed; far greater than any other form of gambling. It’s also interesting to note that rather than an attempt to crackdown on illegal unlicensed sports bets placed in Australia, it’s a move to make betting legal and regulated.
This means that online bookmakers will have to pay tax on their earnings and will be safe from prosecution by state-based gambling laws (under Federal jurisdiction). Accompanying this news is the revelation that when the bill passes into law later this year, Australian citizens will be able to purchase their favourite sports events directly through their telephones or computers. This will save punters money as they won’t need to go through a bookmaker or television network anymore.