Best Bookies’ Price Pty Ltd receives warning for unlicensed online wagering service
Illegal offshore gambling could cost Australians an estimated AUD$3bn ($1.9bn) in lost taxes.
The Australian Communications and Media Authority (ACMA) has issued a formal warning to Best Bookies’ Price Pty Ltd for operating an unlicensed online wagering service.
The Best Bookies’ service allowed customers to compare betting odds across licensed wagering operators and place bets with those operators on their behalf.
According to the ACMA, these activities met the definition of a ‘gambling service’ as outlined in the Interactive Gambling Act 2001 (IGA).
Best Bookies had obtained authorisations from the relevant state-based regulator; however, it did not possess the required wagering licence to provide interactive gambling services under the IGA.
Consequently, the ACMA found that the Best Bookies’ service contravened the IGA as it operated as an unlicensed regulated interactive gambling service provided to Australian-based customers.
The importance of licensing arrangements lies in facilitating key consumer protections under both relevant state and territory laws as well as the IGA.
Best Bookies’ Price Pty Ltd has ceased providing this service following the warning.
This warning comes as part of ACMA’s ongoing efforts to enforce regulations and safeguard Australian players from illegal online gambling services.
In November 2022, ACMA initiated website blocking measures to curb illegal offshore gambling websites, partnering with internet service providers (ISPs) to block access to nine such platforms, including Winning Days, 21Bit Casino and Lucky Elf Casino.
The ACMA’s authority was expanded under the IGA in 2017 to enforce regulations more effectively. Since then, they have blocked a total of 642 illegal gambling and affiliate websites.
This development also brings attention to the larger issue of illegal offshore gambling’s impact on Australian tax revenue. A report by Responsible Wagering Australia suggested that illegal offshore gambling could cost Australians an estimated AU$3bn ($1.9bn) in lost taxes from 2022 to 2027.
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