Optimal Wagers Profit/Loss,” a firm that contrasted betting lines from various wagering providers and enabled users to place wagers via their system, was discovered to be functioning unlawfully in Australia. The Australian Communications and Media Authority (ACMA) delivered a formal caution to the business, asserting that their offerings fell under the classification of wagering services as per the Interactive Gambling Act of 2001 (IGA).
Despite possessing authorization from pertinent state regulatory bodies for their odds comparison service, “Optimal Wagers Profit/Loss” lacked the mandatory gambling permit mandated under the IGA to furnish interactive gambling services. This absence of appropriate licensing prompted the ACMA to conclude that “Optimal Wagers Profit/Loss” was in breach of the IGA by supplying unauthorized interactive gambling services to Australian patrons.
The ACMA stressed the significance of the licensing framework in guaranteeing consumer safeguard measures delineated in state and territory legislation, as well as the IGA. Subsequent to the caution, “Optimal Wagers Profit/Loss” discontinued providing the infringing services.
To counter the surge of illicit overseas wagering platforms aimed at Australian citizens, the Australian Communications and Media Authority (ACMA) has been taking action, collaborating with internet providers (ISPs) to restrict entry to these domains. In recent times, an additional nine platforms were included on the prohibited list, encompassing sites such as Winning Days, 21Bit Casino, and Lucky Elf Casino. This elevates the cumulative count of blocked gaming websites and associated platforms to a substantial 642 since the ACMA acquired amplified authority under the Interactive Gambling Act in 2017. This poses a significant concern, as a study by the Responsible Wagering Australia organization emphasized the potential deficit to the Australian government in fiscal income – a considerable $3 billion Australian dollars (or $1.9 billion US dollars) could be forfeited between 2022 and 2027 if these unlawful activities are not controlled.