Following new gambling laws and regulations in Australia, more gambling operators are considering an exit from the market. Companies like William Hill, with a large presence in sports betting, might soon exit the country. The British gambling operator announced a ‘strategic review’ of their Aussie business earlier this week.
Their announcement comes after the London Financial Times reported possible new taxes in various Australian states. These tariffs, known as ‘point-of-consumption’ taxes, will mean that operators will need to pay revenues to each state they offer bets in, as well as the state they gained a license from. For many online casinos and poker rooms, this was a motivating factor for leaving the AU market in 2017.
William Hill Holding their Cards Close
While it’s always wise not to overplay your hand, William Hill seems to be taking their bets seriously. This ‘strategic review’ means that they could be getting ready to fold their hand in Australia. Of course, this is simply speculation for the moment. There have been other regulatory concerns impacting their profits in Australia in the past year.
At the start of 2017, sportsbooks were banned from advertising their services during sporting events. This came about after match-fixing allegations during the Australian Open and other tennis tournaments. What’s more, Australia banned credit betting shortly after. Gamblers could no longer bet with credit cards or other such services online or through operators like William Hill.
Showdown on the Way
To continue our Poker analogy, the federal government have been betting big on expected revenues from gambling laws. State officials have also been extremely vocal about other gambling forms, such as the last Queensland casino. However, their opposition to gambling may just lose them the game. After all, you can’t always bluff your way through a game when you’re dealt a bad hand.
We could be wrong, but only time will tell if Australia’s ambitious new regulations will pay off. Especially when they place focus on local operators to carry their gambling needs. Keep visiting New Zealand casinos for updates on the AU situation.