NSW Encouraged to Change

12/18/2008		NSW Encouraged to Change
Home History Games News Dictionary		This weeks report made to the government of New South Wales by firmer chairman of the Australian Securities and Investment Committee, Alan Cameron, brings to attention just how much money is lost fir nations choosing the prohibition of online casinos in lieu of regulation. New South Wales, for example, is cheating itself out of $14 million dollars annually by keeping betting illegal, and therefore forcing the gamblers to satisfy their hobby through online venues elsewhere. The tax losses are staggering. Cameron recommends, rather, that a conservative regulation program be enacted instead. By licensing some forms of gambling within the nation state, they would be able to keep the resulting tax incomes in state, as well. Keeping up with the gambling trends, he said, published in the Sydney Morning Herald, is the only way to compete with them. The report by Cameron detailed the changes that would allow New South Wales to benefit financially from changes made to their racing and betting industries, which can no longer compete with the popularity of online sports bettors and casinos. The loss of upwards of $14 million results directly from only gambling in Australia, with a possible $27 million falling victim to racing bets online. The challenge lies is appeasing the conservatives with the changes necessary to keep racing lucrative in NSW; the report also includes a warning for the government to act tentatively, so as not to offend "good taste or community expectations." For example, it is recommended that court hearing outcomes and sports disciplinary hearings remain on the gambling prohibited lists. Recommended to be approved, however, are reality television outcomes, and political elections. The report stands as a request for the newly organized Casino, Liquor & Gaming Control Authority to be given power to regulate tasteful gambling sectors. The overall report seems logical, fair, and responsible, though a few points are items of contention. For example, Cameron wants Betfair and similar online betting exchanges to have permissions in NSW, despite their very limited involvement in the racing industry. They are, however, operated out of Australia, and owned in part by James Packer. The report will be taken into consideration, flaws and all. Kevin Greene, Gaming and Racing Minister, made the following statement, driving home the notion that something will need to be done. "It is becoming increasingly problematic for any state to try operating independently with the entry of corporate bookmakers and the cross-border 'leaking' of revenue."

12/18/2008

NSW Encouraged to Change

This weeks report made to the government of New South Wales by firmer chairman of the Australian Securities and Investment Committee, Alan Cameron, brings to attention just how much money is lost fir nations choosing the prohibition of online casinos in lieu of regulation. New South Wales, for example, is cheating itself out of $14 million dollars annually by keeping betting illegal, and therefore forcing the gamblers to satisfy their hobby through online venues elsewhere. The tax losses are staggering.

Cameron recommends, rather, that a conservative regulation program be enacted instead. By licensing some forms of gambling within the nation state, they would be able to keep the resulting tax incomes in state, as well. Keeping up with the gambling trends, he said, published in the Sydney Morning Herald, is the only way to compete with them.

The report by Cameron detailed the changes that would allow New South Wales to benefit financially from changes made to their racing and betting industries, which can no longer compete with the popularity of online sports bettors and casinos. The loss of upwards of $14 million results directly from only gambling in Australia, with a possible $27 million falling victim to racing bets online. The challenge lies is appeasing the conservatives with the changes necessary to keep racing lucrative in NSW; the report also includes a warning for the government to act tentatively, so as not to offend "good taste or community expectations."

For example, it is recommended that court hearing outcomes and sports disciplinary hearings remain on the gambling prohibited lists. Recommended to be approved, however, are reality television outcomes, and political elections. The report stands as a request for the newly organized Casino, Liquor & Gaming Control Authority to be given power to regulate tasteful gambling sectors.

The overall report seems logical, fair, and responsible, though a few points are items of contention. For example, Cameron wants Betfair and similar online betting exchanges to have permissions in NSW, despite their very limited involvement in the racing industry. They are, however, operated out of Australia, and owned in part by James Packer.

The report will be taken into consideration, flaws and all. Kevin Greene, Gaming and Racing Minister, made the following statement, driving home the notion that something will need to be done. "It is becoming increasingly problematic for any state to try operating independently with the entry of corporate bookmakers and the cross-border 'leaking' of revenue."